Quantum diamonds will soon be ‘Made in Australia’, with the National Reconstruction Fund Corporation (NRFC) announcing $13 million of funding for Australia’s quantum manufacturing capability.
Minister for Industry and Science Ed Husic has welcomed the investment in Quantum Brilliance (QB) to build Australia’s first quantum diamond foundry.
Lab grown diamonds are the key component of QB’s quantum accelerators which enable the precise fabrication of quantum bits, or qubits, which power computers and sensors.
“I have said many times that I want Australia to be a country that makes more things here – the NRF is reigniting our nation’s manufacturing might,” said minister for Industry and Science Ed Husic.
“This is about ensuring Australian ideas will be backed and built here, creating more high-paying jobs and keeping Australia at the forefront of the global quantum industry.
“In Opposition we promised to set aside $1 billion for investment in critical technology and today we’re delivering.”
Quantum technologies will usher in a new generation of computers that will be thousands of times faster and more powerful than current computers.
The technologies have significant potential uses in national security, aerospace, healthcare, transport, civil engineering and mining industries.
The funding injection will enable QB to manufacture its diamond technology in Australia, delivering more highly skilled jobs and strengthening nation’s position as a significant player in the global quantum technologies supply chain.
Australia’s quantum technology industry is projected to be worth $6 billion and employ 19,400 Australians by 2045.
This is the second investment under the NRF, which is administered at arms-length from Government by the National Reconstruction Fund Corporation.
Investing in seven priority areas, the NRF will grow a skilled workforce and diversify the Australian economy. For more information, visit www.nrf.gov.au