Creotech Instruments S.A. and Austrian-based ID Quantique Europe GMBH signed a partnership agreement in the field of quantum telecommunications for the European Union’s quantum independence program. In parallel, since May, by the decision of the European Commission, the company, together with other members of an international consortium, has been involved in a pioneering project to build the EU’s first large quantum computer. Creotech Instruments S.A. is currently carrying out its Public Offering worth up to PLN 49.6 million gross, which precedes the company’s debut on the Warsaw Stock Exchange’s main market.
“We are pursuing ever more challenging goals, including in quantum computing. I am, therefore, very pleased to announce that we have just become involved in another quantum project as we signed an agreement with Austria’s ID Quantique Europe GMBH. We will support our new partner in marketing quantum communication products developed by them in the European Union. This is a great opportunity for CRI to strengthen our position in this extremely high-potential market, one we fully intend to leverage,” says Grzegorz Brona, President of the Management Board of Creotech Instruments S.A.
ID Quantique Europe was established as a sister company of Swiss-based ID Quantique to develop and distribute solutions for quantum communication in the European Union market, particularly through participation in the EuroQCI program aiming to build a European quantum key distribution (QKD) infrastructure. This partnership will see the two companies cooperate in developing new products and evaluating the potential for the production and testing of systems launched by ID Quantique Europe. These efforts will be carried out using Creotech’s assembly line, which conforms to requirements applicable to devices with optoelectronic components. ID Quantique Europe has access to the know-how and intellectual property developed by ID Quantique, a company founded in 2001 that originated from the University of Geneva. It was the second company in the world to announce the introduction of quantum key distribution technology for commercial applications related to secure information network encryption. In 2007, ID Quantique implemented its proprietary solution to encrypt elections in Geneva, the world’s first application of this kind. Since 2020, the first chips with quantum random number generation capabilities have made their way to commercially available mobile phones.
“Ultimately, with good and effective cooperation between both parties, the solutions developed by ID Quantique Europe will be combined with solutions developed by Creotech Instruments,” says Grzegorz Brona. “The quantum telecommunications market is a parallel market to quantum computers. Importantly, both of these markets require accurate control and measurement electronics, produced to the highest quality standards, something Creotech Instruments excels at,” he adds.
The partnership with ID Quantique Europe is not the only quantum computing undertaking carried out for the European Union Creotech Instruments is currently engaged in. In May, the company was part of the winning consortium selected to initially build a 100 qubit, followed by a 1000 qubit quantum computer for the EU. As a result, the company was promoted to a highly specialized group of players working on quantum systems, allowing Creotech Instruments to garner considerable attention from other leading manufacturers active in the global quantum market.
According to market estimates, by 2030 the quantum network market will be worth between USD 10 and 30bn. The products and systems implemented by Creotech Instruments will allow the company to take a strategic position in this market.
A few days ago, the company announced that it resumed its public offering worth up to PLN 49.6 million gross, with the maximum price set at PLN 125. The equity raised will be used to grow the company, including to complete key satellite and quantum computing R&D projects, as well as to boost production and sales capacities. According to the revised schedule, subscriptions under the Retail Investors Tranche will start on 6 June and will last until 13 June. The Bookbuilding process among Institutional Investors will run from 8 June to 14 June. The issue price of the offered shares will be published on 14 June. Subscriptions in the Institutional Investors Tranche will be open from 15 to 20 June 2022. Details of the issue are available at: https://creotech.pl/pl/, in the “IPO” tab or directly at: https://creotech.pl/ipo/. The Offering Manager is Dom Maklerski Navigator S.A. with Noble Securities S.A. acting as co-manager. The Public Offering is related to the transfer of the company’s shares from NewConnect to the Warsaw Stock Exchange’s main market, planned for this year.
Creotech Instruments is able to consistently hit its growth milestones, which translates to improved revenues and high margins. The business expansion also affects the company’s return on investment (calculated as the difference between the current price per share company and the issue price on the day of the NewConnect debut, i.e. 12 October 2021). The ROI for Creotech Instruments currently stands at 118%.