Group Formed To Commercialize Quantum Cryptography - InformationWeek

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12:09 PM

Group Formed To Commercialize Quantum Cryptography

Vendors and a university have landed $2.5 million from the Australian government to develop devices that can store and transfer vast amounts of information with "impenetrable" encryption.

LONDON — A consortium of companies and universities led by MagiQ Technologies has formed a joint venture to commercialize diamond encrusted single photon (single particles of light) sources that are a crucial component of quantum cryptography systems.

The other major players are Silicon Graphics Inc., Qucor Pty Ltd and the University of Melbourne, Australia.

The group announced Monday (Jan. 23) it was awarded a $2.5 million grant by the Victoria government of Australia to develop devices capable of producing and using single photons for storing and transferring vast amounts of information with impenetrable encryption.

The Quantum Communications Victoria - Industry Development Initiative (QCV-IDI) is a University of Melbourne-led program.

Under terms of the agreement, all members of the joint venture will share in the development of intellectual property and commercialization of the photon sources.

"The Joint Venture places Victoria as a recognized centre of activity in the rapidly expanding global area of quantum communications and is expected to open new avenues of research in nanotechnology and photonics. We expect great advances, both scientific and economic, out of the Joint Venture," said Dr. Shane Huntington, CEO of QCV-IDI.

Andrew Hammond, Vice President of Marketing and Business Development at MagiQ added that the participants are confident partnering is the best way to accelerate the development of quantum cryptography.

MagiQ Technologies claims to be the first company to commercialize advances in quantum information. Founded in 1999, the privately-held company is headquartered in New York City with research & development laboratories in Somerville, Mass.

Qucor Pty Ltd is a more recent, 2003, start-up formed to commercialise technologies developed from R&D into quantum computing in Australia, mainly of those in universities like the Physics Department at Melbourne.

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