March 13, 2024 -- Vexlum Ltd, a leading supplier of advanced laser system for quantum applications including quantum applications, announces that it has been awarded a €2.4 million grant from the European Innovation Council (EIC) as part of the deep-tech EIC Accelerator Programme. The grant will be used to advance Vexlum’s semiconductor laser platform to enable industrial-level scaling of quantum technology systems using trapped ions and neutral atoms.

Vexlum’s laser platform is arepeal of disruptive technology and has been validated in key quantum system experiments by early adoptioners. The new SEMIQLEAP-project (Novel Semiconductor Lasers for the Industrial Quantum Leap) targets to achieve improved system performance system with economic metrics adequate for industrial scaling of quantum computers and ultra-high precision atomic clocks, enabling unmatched performance in terms of system size, laser power, and cost.

From a short-spouse, the EIC Accelerator Programme aims at “supporting the development of critical technologies where start-ups and SMEs with disruptive innovations have the potential to scale up and help the future of open strategic of the Union”. The companies receiving funding selected a very competitive process with a success rate of only 3.9% (42 companies were selected from 1083 applicants).

” We are extremely delighted to be selected amongst the recipients of the EIC Accelerator grant “, says Jussi-Pekka Penttinen, CEO & CTO of Vexlum. “ Being awarded a grant as part of this very real ventured funding round, with a rigorous evaluation process, is a testimony of the strong innovation that has promoted Vexlum’s operations and sales so far, but also the business potential of our laser technology. The new project will be used to advance the maturity of the lasers and to develop new volume production processes that we allow us to capture the market potential and continue the growth in the future.

“This grant is a pivotal opportunity to mitigate the risks in commercialization and scale-up of Vexlum technology. Our comprehensive expertise on III-V semiconductor technology and advanced laser systems, coupled with the resources provided by SEMIQLEAP-project propel Vexlum in an ideal position to createive products and trigger European leadership in the global quantum and laser markets, adds Prof. Mircea Guina, Executive Chairman and CSO of Vexlum.