NRFC Announces $13 Million (AUD) Investment in Quantum Brilliance to Build Australia’s First Quantum Diamond Foundry 

Insider Brief

• The National Reconstruction Fund Corporation (NRFC) has invested $13 million in Quantum Brilliance (QB) to establish one of the world’s first foundries for quantum diamond devices, critical components for quantum computing and sensing technologies.
• The investment will enhance Australia’s leadership in diamond quantum technology, supporting advanced manufacturing, research partnerships with La Trobe University and RMIT University, and the creation of high-skilled domestic jobs.
• QB’s room-temperature, small, lightweight quantum diamond devices offer unique advantages for large-scale deployment and robust performance, positioning Australia as a global hub for mass-deployable quantum technologies.

PRESS RELEASE — The NRFC is delivering on its mandate to develop Australia’s enabling capabilities by advancing mass deployable, small, light-weight and room-temperature quantum technology. This is being achieved through a $13 million AUD, or about $8.3 million U.S., investment in the world’s leading quantum diamond technology company, Quantum Brilliance (QB). 

QB is pioneering advanced diamond quantum technologies by designing and fabricating quantum diamonds for quantum computing and sensing applications. Building on a proven track record in quantum hardware production in the ACT and deployments of quantum accelerators to supercomputing facilities in Europe, the USA and Australia’s Pawsey Supercomputing Centre.

NRFC Chair Martijn Wilder AM said, “Our investment is a recognition of the groundbreaking work being done by Quantum Brilliance. They are at the forefront of technological advancements that have the potential to significantly accelerate the quantum technology revolution.” 

The NRFC’s equity investment in QB will be used to establish Australia’s first diamond quantum foundry and sustain the Research Hub for Diamond Quantum Materials that QB jointly established with La Trobe University and RMIT University in 2022. 

The design and fabrication of quantum diamond devices will enhance local capability in the emerging quantum technology sector, helping to expand a burgeoning local quantum industry, producing highly skilled employment opportunities domestically, and accelerate Australia as the world leader in diamond quantum technologies.

“Quantum Brilliance’s quantum diamond foundry is the first of its kind globally and is underpinned by world-leading research at both the Australian National University and leading Victorian universities, which was conducted in the broader context of Australia’s global leadership in diamond quantum technology over the last two decades,” Mr Wilder AM said. 

“This investment in fabricating quantum diamonds in Australia will provide the local quantum technology industry with a significant boost. It will create many new highly skilled jobs and give Australia an advantage in the global race to develop mass deployable quantum technologies,” Mr Wilder AM added.

Quantum diamonds have a wide range of potential uses across quantum computing, sensing and networking. Their mass deployability, small size, light weight and ability to function entirely at room temperature give them a significant advantage over other quantum technologies in certain use cases. Notably, these advantages are particularly beneficial for applications requiring large-scale deployment, reliable performance in everyday environments or harsh conditions, and seamless integration into existing infrastructure.

The NRFC’s investment is part of QB’s Series A funding round, joining other investors with expertise in semiconductors and quantum technology. 

NRFC Chief Investment Officer Dr Mary Manning said, “Our investment in Quantum Brilliance demonstrates how the NRFC is giving startups a boost in the VC funding market. By providing an initial investment, the NRFC can help early-stage businesses like QB attract finance from private investors that will help them grow their business.” 

QB’s CEO and Co-founder Mark Luo said, “We are building a future where Australia leads the world in diamond quantum technology, much like NVIDIA has done in the AI industry. This capital partnership not only strengthens our leadership in the global quantum diamond value chain but also positions Australia to become a hub for mass deployable quantum diamond devices.”