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Today, Governor JB Pritzker joined the Illinois Department of Commerce and Economic Opportunity (DCEO) and EeroQ Corporation leadership to announce new investments in the company’s quantum headquarters in Chicago’s Humboldt Park community. EeroQ’s $1.1 million investment in capital expenditures, bolstered by an Economic Development for a Growing Economy (EDGE) for Startups agreement and Illinois Innovation Venture Fund (INVENT) investments, will enable the company to develop the team and tools needed to build a quantum computer and revolutionize various fields. […]
Founded in 2017, EeroQ is building a commercial-scale quantum computer using electrons floating on top of liquid helium and leveraging today’s existing chip fabrication technology. This innovative strategy allows EeroQ to scale rapidly and with resource efficiency. […]
As part of the State’s comprehensive incentive package, EeroQ received an EDGE for Startups tax credit, and has committed to making a $1.1 million investment, creating five new full-time jobs and retaining eight full-time jobs. A link to the full agreement can be found here.
* WTTW…
EeroQ CEO Nick Farina said after conducting a national search, the company chose Chicago as its headquarters.
It was the right decision, Farina said.
“There is a very, very bright future for quantum in Chicago,” Farina said. […]
Thursday’s announcement at EeroQ’s office was another notch in the state’s belt as Gov. J.B. Pritzker seeks to make Illinois the nation’s “quantum capital.”
Illinois is spending half a billion dollars to build the Illinois Quantum and Microelectronics Park on the South Side of Chicago with California startup PsiQuantum as the anchor tenant. The Defense Advanced Research Projects Agency (DARPA) also chose to partner with Illinois on a quantum prototype testing project that will be based at the park.
“I couldn’t be happier for them (EeroQ),” said Preeti Chalsani, a physicist who in June was hired by Intersect Illinois to serve as chief quantum officer. “It means a lot to me to have them be doing this work here in Illinois.”
* WTVO…
EeroQ is a startup company that uses liquid helium and traditional chip-making technologies to create processors, or qubits, for quantum computers. The 8-year-old startup that raised $13.5 million decided to move to Chicago in 2022, according to Chicago Business. […]
EeroQ’s CEO said the company is building the next generation of quantum computer chips. He said, once developed, it will help lead to breakthrough advances in areas such as medicine, finance, energy efficiency and aerospace.
posted by Isabel Miller
Thursday, Sep 26, 24 @ 8:59 am
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Nick Farina is a friend so I am biased. I’ve been to EeroQ and heard the stories about the mind-boggling ways that quantum can advance health, weather forecasting, cybersecurity, etc… It is paradigm changing. Glad JB is playing the long game.
Comment by levivotedforjudy Thursday, Sep 26, 24 @ 10:33 am
We can’t know if quantum computing will live up to its promise, but it’s good to know that this work will be happening in Chicago. More good jobs is always good news.
Comment by Friendly Bob Adams Thursday, Sep 26, 24 @ 10:42 am
Thanks for highlighting this in yesterday’s am roundup, Isabel, I watch the press conference. I’m not completely sure I understand the tech (I’m more familiar with vacuum evacuated quantum systems) but it’d going to be fun to dig in to
Comment by Suburban Mom Thursday, Sep 26, 24 @ 10:45 am
=said the company is building the next generation of quantum computer chips=
If this leads to building chips in Illinois and can get both high tech white and blue collar jobs that’s even better.
Comment by Cool Papa Bell Thursday, Sep 26, 24 @ 10:46 am
With what is already happening here at the U of I, this could lead to I-57 becoming a real tech corridor in the future. Pretty exciting stuff, really. When you start getting that much money and that many nerds concentrated in one place, there’s bound to be some weird science happening!
Comment by The Ford Lawyer Thursday, Sep 26, 24 @ 10:50 am
= weird science happening!=
True that. Do a bit of research on quantum computing and you will find some freaky weird stuff like superposition, entanglement, and quantum teleportation. Great that the state and our local research universities will be on the cutting edge.
Comment by Donnie Elgin Thursday, Sep 26, 24 @ 1:16 pm
It doesn’t even need to be AI. Musk sent a message with Harris wearing communist garb and said she admits to her communism. He admitted it was not a re-tweet and that he had it made because he thinks it’s funny. The lies are outnumbering the truth.
Comment by Lurker Thursday, Sep 26, 24 @ 5:03 pm
While the idea of quantum computing is exciting, I’ll wait to swallow the koolade.
There have been too many things that are billed at the “next big thing” that take too long to come to fruition.
For instance, over 10 years ago, the rage was connected cars and intelligent transportation systems. Cars communicating with each other and the traffic signal systems. Despite Elon Musk claims, we have yet to have fully automated vehicles. There are no systems available that allow interconnected vehicles or any communications with the traffic signals.
So I’m not going to get very excited about this type of technology.
Comment by Huh? Thursday, Sep 26, 24 @ 5:06 pm
So, what’s the actual dollar amount the company will receive? I read the agreement and didn’t see a concrete dollar amount, just a tax credit parameter to receive money/credit..
That doesn’t tell us what they’re actually receiving via EDGE.
I’m probably missing it.
Comment by Frida's boss Friday, Sep 27, 24 @ 1:59 am