Unveiling Moreton Bay’s quantum future

It may have been a simple sod turn, but today’s PsiQuantum ceremony at Moreton Bay Central is forecast to “go down in history”.

By breaking ground, work is officially underway on the site where PsiQuantum will build the world’s first utility-scale, fault-tolerant quantum computer.

The computer uses quantum mechanics to enable computing far more powerful than conventional and even super-computers, dramatically accelerating research and development.

It will also create an “ecosystem” of further jobs, drive innovation and generate opportunities.

“We’ll have the ability to design more effective drugs, save lives, reduce suffering, create new materials and drive industries and create tremendous economic and societal value,” PsiQuantum Interim CEO Victor Peng said.

“In fact, I image there will be new industries we cannot conceive of today.”

PsiQuantum’s Asia-Pacific HQ will also create an “eco-system of research, engineering, advanced manufacturing, education and develop a workforce for the era of quantum”.

In keeping with the quantum computer’s speed, agreement for the Moreton Bay Central site was reached with Council in just three months.

“Moreton Bay Central provides this fantastic site and a partner that moves fast,” Mr Peng told dignitaries today.

“I believe it will take decades before we can all appreciate the magnitude of this milestone.

“Today’s an historic milestone for Queensland, for Australia, the future of computing and the pursuit of truth and knowledge.”

City of Moreton Bay Mayor Peter Flannery agreed saying: “A project this size and scale is unprecedented. Remember … this will go down in history.

“We’re a city of ambition, a city of opportunity and a city of future. There’s so much more to come at Moreton Bay Central and the City of Moreton Bay.”

State Minister for Science and Innovation Andrew Powell, the Member for Glasshouse, said Moreton Bay is “driving change and leading the pace in Queensland”.

“It’s about turning Moreton Bay into one of the most exciting economic precincts in the country, where new industries can grow, new industries can invest and Queenslanders can build a career closer to home.

“A project like this will attract an ecosystem around researchers, start-ups, advanced manufacturers, technology companies and highly-skilled workers and create further jobs, drive innovation and generate opportunities.

“We want Queensland kids to study here, train here and build careers here. And projects like this will do that.”

PsiQuantum said the new quantum computer will lead to world-changing breakthroughs in chemistry, developing drugs, materials and even financial services.

A quantum computer can rapidly run molecular simulations that would currently take years, or even decades, via simulations on existing super-computers.

New drugs will come to market faster by using a quantum computer to identify a small subset of likely drug candidates with a high likelihood of passing clinical trials.

A quantum computer can help design new materials with improved properties, including a more efficient solar cell or better catalysts for green ammonia and green hydrogen.

And even build better pricing algorithms which will consider more parameters than any conventional computer could model.