The National Reconstruction Fund has taken a $13 million equity stake in a company building quantum computers, doubling down on Labor’s bid to create a local quantum technology industry.
The $15 billion fund announced it had taken a stake in Quantum Brilliance’s Series A funding round. The money will go towards building an Australian-first facility to make diamonds used in quantum computers and sustain a research hub operated with La Trobe and RMIT universities.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
