Equal1 secures €13.7M to advance quantum solutions for energy and medicine

Irish quantum computing company Equal1, a UCD spin-out, has raised €13.7 million under the Disruptive Technologies Innovation Fund (DTIF) to lead the QUBIC project, a collaborative initiative aimed at developing quantum algorithms, hardware, and software with practical applications in energy, climate modelling, advanced materials, and pharmaceuticals. The project brings together industry and academic partners, including Biosimulytics Ltd and the UCD Centre for Quantum Engineering, Science, and Technology (C-QuEST), with backing from Ministers Peter Burke TD and James Lawless TD.

QUBIC is designed to translate quantum research into real-world impact. Biosimulytics will leverage the technology to enhance predictive modeling for drug development, potentially reducing the time and cost of identifying promising candidates. In energy, the project focuses on optimising grids and developing new materials for more efficient storage, while also supporting more accurate climate simulations.

Jason Lynch, CEO of Equal1, highlighted the collaborative nature of the initiative, stating it unites Ireland’s leading research and industry players to deliver tangible results. Peter Doyle, CEO of Biosimulytics, emphasised the transformative potential of quantum algorithms for pharmaceuticals, noting that these advances could accelerate drug discovery and improve precision in molecular simulations.

The DTIF investment is part of a broader €36.9 million funding allocation to six projects, reinforcing Ireland’s strategy to foster disruptive technologies and strengthen its position in global quantum computing. By bridging academic expertise with industry application, the QUBIC project positions Ireland as a frontrunner in delivering practical quantum solutions for critical sectors.

For industries reliant on complex data analysis and simulations, this funding marks a significant step toward leveraging quantum computing to drive innovation, enhance competitiveness, and solve pressing challenges in energy, climate, materials, and pharmaceuticals.

Explore the full article to see how Equal1 and its partners are shaping the future of quantum-powered innovation in Ireland.