Key Highlights
- Finland’s IQM Quantum Computers has finalized a landmark agreement with Eldorado Research Institute to bring quantum computing to Brazil
- Installation of the IQM Spark quantum system at Eldorado’s Campinas facility is scheduled for early 2027
- Brazilian researchers will gain remote connectivity to IQM’s European-based 54-qubit cloud infrastructure
- With 26 complete systems sold and 17 already deployed worldwide, IQM outpaces competitors including IBM in on-site installations
- Following its July blank-check merger, IQM became Europe’s pioneer quantum computing firm on a premier U.S. stock market
IQM Quantum Computers (IQMX) announced Wednesday that it has finalized a procurement deal with Eldorado Research Institute in Brazil to install a quantum computing system in South America. Following the announcement, IQMX stock climbed 0.21%.
IQM Quantum Computers Oyj, IQMX
This partnership represents IQM’s inaugural venture into South American territory, a continent that has remained relatively untapped as quantum technology proliferates throughout North America, Europe, and Asian markets.
Eldorado’s headquarters in Campinas—approximately 100 kilometers northwest of São Paulo—will house the IQM Spark quantum computing platform, with deployment expected during the opening quarter of 2027.
Located adjacent to Unicamp’s campus within Brazil’s most prominent technology hub, Campinas provides strategic positioning. The installation will connect directly with an extensive network encompassing academic institutions, emerging tech ventures, and corporate collaborators.
Beyond the physical installation, the partnership grants Brazilian researchers remote connectivity to IQM’s 54-qubit cloud-accessible quantum system operating in Europe. This dual approach enables local teams to experiment with proprietary hardware while accessing more powerful quantum processing capabilities for demanding computational tasks.
“Brazil has the talent, the research base and the ambition to build a real quantum ecosystem,” said Jan Goetz, CEO and Co-founder of IQM. “What’s been missing is direct access to real quantum computers.”
José Bertuzzo, Superintendent of the Eldorado Research Institute, characterized the installation as a strategic commitment to “people, knowledge and an ecosystem that will prepare Brazil to actively participate in the quantum future.”
IQM Leads Competition in Physical System Deployments
IQM has successfully contracted 26 complete quantum computing systems and completed 17 installations across international markets, including its inaugural U.S. deployment. According to company statements, this positions IQM ahead of established competitors such as IBM in terms of on-site system sales.
In August, the company disclosed an outstanding order pipeline valued at EUR 102 million. This substantial backlog provides stakeholders with more tangible revenue visibility compared to most nascent quantum computing ventures.
The quantum computing sector remains in its commercial infancy. Enterprise implementation continues to face constraints as fully fault-tolerant, error-corrected quantum systems remain years from maturity.
To date, demonstrated quantum computational advantages have primarily occurred in controlled research environments at modest scales. Broader market acceptance hinges on enterprises recognizing genuine operational efficiencies and cost reductions from the technology.
Nevertheless, physical system sales represent meaningful commercial momentum indicators within an industry where most participants have yet to generate substantial revenue.
IQM’s Journey to Public Markets
IQM completed its transition to public trading through a special purpose acquisition company (SPAC) transaction in early July, establishing dual listings on both Nasdaq and the Helsinki exchange. The company holds the distinction of being the first European quantum computing enterprise listed on a major American stock exchange.
Established in 2018 with headquarters in Espoo, Finland, IQM maintains a workforce exceeding 450 employees across operational sites in Europe, Asia, and North America.
The Eldorado partnership aligns with IQM’s broader strategic approach of collaborating with organizations seeking to establish proprietary quantum computing infrastructure rather than depending exclusively on cloud-based quantum access.
At the Eldorado facility, the IQM Spark system will facilitate quantum algorithm development, hybrid computing frameworks integrating high-performance computing with artificial intelligence, and comprehensive workforce development initiatives spanning quantum hardware and software competencies.
The EUR 102 million order backlog disclosed in August represents the most current financial metric publicly available from IQM.
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