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Xanadu secures a $195 million CAD loan from the Government of Canada to establish an advanced photonics hub in Toronto, enhancing its quantum computing development efforts.
Quantum computing firm Xanadu announced the opening of a new photonics research and manufacturing hub in Toronto, backed by a $195 million CAD loan from the Government of Canada. This funding is part of the company's larger initiative, Project OPTIMISM, which seeks additional federal support. The investment will accelerate Xanadu's efforts in quantum computing and build essential components for future quantum data centers. The facility will be based in the former Campbell's Soup factory in Etobicoke.
Company Information
Company
Xanadu Quantum Technologies
Location
Toronto, Ontario, Canada
About
Xanadu Quantum Technologies is a leader in photonic quantum computing. Established in 2016, its Borealis quantum processor achieved quantum supremacy in 2022. The company offers the open-source platform PennyLane, supporting global quantum developers.
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