PensionDanmark Invests $10 Million in Atom Computing to Strengthen Denmark’s Role in Quantum Technology

Insider Brief:

• PensionDanmark has invested $10 million in the American quantum computing company Atom Computing, with the intent to secure long-term financial gains for its members while contributing to Denmark’s broader efforts in quantum technology.

• Atom Computing announced the development of the world’s first gate-based quantum platform with over 1,000 qubits in 2023 and has since partnered with Microsoft with hopes to build the world’s most powerful quantum machine.

• Denmark’s national quantum strategy has been further supported by a 70 million DKK investment from the Danish Export and Investment Fund (EIFO), which led to Atom Computing establishing its European headquarters in Copenhagen.

PRESS RELEASE — In a recent announcement, PensionDanmark, one of Denmark’s largest labor-market pension funds, revealed it has made a venture into the next generation of computing with a $10 million investment in the American quantum computing company, Atom Computing. This strategic move not only intends to deliver long-term financial gains for PensionDanmark’s members but also contributes to Denmark’s wider efforts in quantum technology.

As noted in the release, quantum computing’s financial potential is expected to reach hundreds of billions of dollars annually, and PensionDanmark’s investment could secure long-term returns for its members while reinforcing Denmark’s expanding role within the global quantum ecosystem. Companies such as Atom Computing are actively working towards notable developmeents in the field. In October 2023, Atom Computing announced the world’s first gate-based quantum platform with over 1,000 qubits. Building on this innovation, the company has partnered with Microsoft to develop what they claim will be the world’s most powerful quantum machine. By integrating Atom Computing’s neutral atom quantum hardware with Microsoft’s Azure Quantum platform, the collaboration intends to advance scalable, reliable quantum computing solutions.

Denmark’s Legacy of Science, A Future in Quantum

This recent investment builds on an earlier move by the Danish Export and Investment Fund (EIFO), which invested 70 million DKK (approximately $10.2 million USD) in Atom Computing. EIFO’s backing was a also a key factor in Atom Computing’s decision to establish its European headquarters in Copenhagen, aligning with Denmark’s national quantum strategy.

“Quantum computers can open up a whole new world of solutions, and with this investment, we give our members the opportunity to share in the returns from this potential paradigm shift to the benefit of their pension savings,” said Peter Stensgaard Mørch, CEO of PensionDanmark.

According to the release, the choice of Copenhagen as Atom Computing’s European base ties into Denmark’s deep scientific heritage, tracing back to Niels Bohr’s work on atomic theory in 1913. But this investment signifies more than just financial support; it reflects a commitment to strengthening Denmark’s standing in the global quantum industry.

“The link between Atom Computing’s promising computing power and the Danish quantum environment holds great potential, which we would like to support. We see quantum solutions as part of the future, and with Denmark’s scientific traditions in the area, it is obvious that we should strive for a place in the international forefront,” Mørch added.