Xanadu Secures $23M CAD for Fault-Tolerant Quantum Computing

Xanadu Quantum Technologies Inc. (“Xanadu”) has been selected to participate in the Canadian Quantum Champions Program (CQCP), a federal initiative designed to accelerate the development of fault-tolerant quantum computing capabilities in Canada. Led by Innovation, Science and Economic Development Canada (ISED), with technical due diligence from the National Research Council of Canada (NRC), the program will provide Xanadu with up to CAD $23 million in funding during its first phase. This investment supports Xanadu’s mission to build quantum computers—utilizing a photonic architecture with enhanced qubit connectivity—that are useful and available, addressing challenges beyond the reach of today’s computers. Xanadu Selected for Canadian Quantum Champions Program Xanadu Quantum Technologies has been selected to participate in the Canadian Quantum Champions Program (CQCP), a new federal initiative. Led by Innovation, Science and Economic Development Canada (ISED) with technical assessment by the National Research Council of Canada (NRC), the CQCP aims to accelerate the development of fault-tolerant quantum computing and solidify Canada’s leadership in the field. This is a three-phase, merit-based funding program, with Phase 1 now launching for technical validation and benchmarking. As part of Phase 1, Xanadu will receive up to CAD $23 million in funding from ISED. This funding will support Xanadu’s mission to build accessible and useful quantum computers.

The National Research Council of Canada (NRC) will concurrently establish the Benchmarking Quantum Platforms (BQP) initiative to assess Xanadu’s underlying quantum technologies. This expert assessment will employ a science-based, interdisciplinary approach to track Xanadu’s technical progress within the CQCP. Xanadu’s photonic quantum computing architecture is highlighted as offering advantages, including room-temperature operation and enhanced qubit connectivity. The company’s Aurora computer is presented as a proof-of-concept for large-scale, error-corrected quantum computing. Participation in the CQCP reinforces Xanadu’s work towards delivering practical quantum solutions across various industries, including drug discovery, aerospace, and AI. CQCP Program: Phases and Funding Details The Canadian Quantum Champions Program (CQCP) is a three-phase, merit-based funding initiative led by Innovation, Science and Economic Development Canada (ISED), with technical evaluation provided by the National Research Council of Canada (NRC). This program aims to accelerate the development of fault-tolerant quantum computing in Canada and solidify the nation’s position as a leader in the field. The NRC will also establish the Benchmarking Quantum Platforms (BQP) initiative to assess the underlying quantum technologies of participating companies. As part of Phase 1 of the CQCP, Xanadu Quantum Technologies will receive up to CAD $23 million in funding from ISED. This initial funding will support Xanadu’s technical validation and benchmarking processes as they work to build practical quantum computers. The program recognizes Xanadu’s photonic quantum computing architecture, which offers advantages like room-temperature operation and enhanced qubit connectivity, as a promising path toward large-scale, error-corrected quantum computing. Participation in the CQCP is intended to reinforce Xanadu’s efforts to develop quantum computing solutions with real-world applications. This includes areas like drug discovery, advanced chemistry, aerospace, defence, and artificial intelligence. The program’s focus on long-term economic resilience aligns with Xanadu’s mission to create quantum computers that are both useful and accessible to a broad audience. Xanadu’s Photonic Quantum Computing Architecture Xanadu’s photonic quantum computing architecture is distinguished by several key advantages. Unlike some systems, it requires minimal cooling due to room-temperature operations. Furthermore, the architecture boasts enhanced qubit connectivity, which is crucial for more efficient fault-tolerant operations – a critical step towards practical quantum computing. This approach is demonstrated by Aurora, Xanadu’s latest photonic quantum computer, which serves as a foundational proof-of-concept for large-scale, error-corrected systems.

The Canadian Quantum Champions Program (CQCP) will provide Xanadu with up to CAD $23 million in funding. This investment supports Xanadu’s mission to build quantum computers useful for a variety of applications, including drug discovery, advanced chemistry, aerospace, defense, and artificial intelligence.

The National Research Council of Canada (NRC) will assess Xanadu’s technology as part of the Benchmarking Quantum Platforms (BQP) initiative, using a science-based approach. A core element of Xanadu’s architecture is its modular, networkable design. This feature is considered critical for achieving practical quantum computing capabilities. Founded in 2016, Xanadu has become a leading quantum hardware and software company, also developing PennyLane – an open-source software library for quantum computing and application development – furthering its commitment to accessibility and advancement in the field.

Benchmarking Quantum Platforms Initiative Established The Canadian Quantum Champions Program (CQCP) is a new, three-phase federal initiative designed to accelerate the development of fault-tolerant quantum computing in Canada. Led by Innovation, Science and Economic Development Canada (ISED) with technical evaluation by the National Research Council of Canada (NRC), the program will provide merit-based funding. As part of Phase 1, Xanadu Quantum Technologies Inc. will receive up to CAD $23 million to support its work building quantum computers. A key component of the CQCP is the establishment of the Benchmarking Quantum Platforms (BQP) initiative by the National Research Council of Canada (NRC). This initiative will perform expert assessment of the underlying quantum technologies from participating companies, like Xanadu, utilizing an interdisciplinary, science-based approach. This rigorous evaluation is crucial for validating technical progress and ensuring Canada maintains its leadership in the field. Xanadu’s participation in the CQCP reinforces its efforts to develop practical quantum computing solutions. Its photonic quantum computer, Aurora, demonstrates a viable approach with advantages like room-temperature operation and enhanced qubit connectivity. The company aims to apply this technology to areas like drug discovery, aerospace, and AI, delivering solutions beyond the capabilities of today’s computers. Applications of Xanadu’s Quantum Computing Solutions Xanadu has been selected to participate in the Canadian Quantum Champions Program (CQCP), a merit-based funding program led by Innovation, Science and Economic Development Canada (ISED). As part of Phase 1, Xanadu will receive up to CAD $23 million to support its mission of building useful and accessible quantum computers.

The National Research Council of Canada (NRC) will concurrently establish the Benchmarking Quantum Platforms (BQP) initiative to assess Xanadu’s underlying quantum technologies as part of the program. Xanadu’s photonic quantum computing architecture offers advantages over other systems, including room-temperature operations and enhanced qubit connectivity. Their latest computer, Aurora, serves as a proof-of-concept, laying the groundwork for large-scale, error-corrected quantum computing. This approach is intended to deliver practical value across industries like drug discovery, aerospace, and AI, demonstrating a focus on real-world applications of quantum technology. The company’s participation in the CQCP reinforces Xanadu’s efforts to develop quantum computing solutions. Founded in 2016, Xanadu is a leading quantum hardware and software company, and also leads the development of PennyLane, an open-source software library for quantum computing. Xanadu aims to tackle problems beyond the reach of today’s computers, unlocking transformative solutions for science, industry, and society. This is an important moment for quantum computing in Canada. At Xanadu, we aim to harness quantum computing to tackle problems that are beyond the reach of today’s computers and unlock transformative solutions for science, industry, and society. Christian Weedbrook, Chief Executive Officer and Founder of Xanadu Proposed Transaction and Forward-Looking Statements The proposed transaction between Crane Harbor Acquisition Corp. and Xanadu will be submitted to shareholders of both companies for consideration. A draft registration statement on Form F-4 has been confidentially submitted to the U.S. Securities and Exchange Commission (SEC), including a proxy statement/prospectus detailing the merger. Once the SEC declares the Registration Statement effective, a definitive proxy statement/prospectus will be distributed to shareholders, outlining important information about the transaction and the combined company. Xanadu has been selected to participate in the Canadian Quantum Champions Program (CQCP), a merit-based funding initiative. As part of Phase 1, Xanadu will receive up to CAD $23 million to support its mission of building practical quantum computers. This funding is intended to support technical validation and benchmarking, with subsequent phases of the CQCP currently under development. This investment underscores Canada’s commitment to quantum leadership and long-term economic resilience. The source explicitly states that forward-looking statements are included within the communication. These statements, identified by words like “estimate,” “plan,” or “expect,” cover projections about stock exchange listings, proceeds from the business combination and the CQCP, and Xanadu’s ability to deliver transformative solutions via quantum computing. These statements are not guarantees and are subject to risks and uncertainties beyond the control of Xanadu and Crane Harbor. Canada’s investment in the Canadian Quantum Champion Program is a bold step to anchor our world-class talent and companies here at home, helping drive innovation in a field that will transform our economy and daily lives.

The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario Source: https://www.globenewswire.com/news-release/2025/12/15/3205566/0/en/Xanadu-to-receive-up-to-23M-from-new-Canadian-Quantum-Champions-Program.html Tags: