AXE finalises terms for graphene-based quantum tech with University of Sydney
Archer Exploration Limited (ASX:AXE) has informed the market it has finalised terms with the University of Sydney Commercial Development and Industry Partnerships (CDIP) for exclusive rights to develop and commercialise intellectual property related to carbon-based quantum computing technology.
AXE and CDIP have agreed to negotiate a definitive binding licence agreement for AXE’s exclusive international rights to develop and commercialise quantum technology IP. CDIP has agreed to deal exclusively with AXE for the execution of a proposed licence agreement for the next six months.
The key terms of the proposed licence agreement between the two parties has been finalised and remain confidential, and this process has facilitated the filing, and national phase entry, of a patent cooperation treaty (PCT) application by the University of Sydney in the geographic areas covered by a European Patent, Australia, the US, Japan, Republic of Korea and China.
Commenting on the negotiations, CEO of AXE Dr Mohammad Choucair said: “We are pleased to have finalised terms to execute the licence for the IP rights related to the carbon-based quantum computing technology with CDIP.
“When executed, the licence will provide us with patents to develop and commercially exploit the quantum computing technology across major geographic regions around the world including Europe, America and Australasia.
“Over the next six months we will focus on finalising the exclusive binding agreement and we remain very excited about the opportunity for Archer to expand in the strategic focus area of Quantum Technology,” he said.
It’s worth noting that remains a speculative play and investors should seek professional financial advice if considering this company for their portfolio.
Background on the project
The IP referred to above relates to the development of a quantum electronic device (QED) for storing and processing quantum bits (qubits) — the fundamental components of a quantum computer. In particular, the QED comprises advanced carbon material components critical for its function.
That’s where AXE comes in, as the QED requires graphene; available in the inventory of the small cap’s wholly owned subsidiary, Carbon Allotropes.
The negotiations are centred on AXE’s exclusive international rights to develop and commercialise the IP, which is described in a patent cooperation treaty (PCT) application that was filed by the University in the names of the University and École Polytechnique Fédérale de Lausanne (EPFL). The PCT was the result of quantum materials and technology research led by Dr Choucair during his previous employment at the University.
The University and EPFL finalised an inter-institutional agreement with which EPFL allows the University to take the commercialisation lead in negotiating with AXE.