Press release: Vexlum Was Awarded 2.4M€ Highly Competed EIC Accelerator Grant for Laser Technology Developments
Tampere, Finland – March 05, 2024
Vexlum Ltd, a leading supplier of advanced laser system for quantum technology applications including quantum computers and high precision optical clocks, announces that it has been awarded a 2.4 M€ grant from the European Innovation Council (EIC) as part of the deep-tech EIC Accelerator Programme. The grant will be used to advance Vexlum’s semiconductor laser platform to enable industrial-level scaling of quantum technology systems using trapped ions and neutral atoms.
Vexlum’s laser platform is regarded as disruptive technology and has been validated in key quantum system experiments by early technology adopters. The new SEMIQLEAP-project (Novel Semiconductor Lasers for the Industrial Quantum Leap) targets to achieve improved system performance with economic metrics adequate for industrial scaling of quantum computers and ultra-high precision optical atomic clocks, enabling unmatched performance in terms of system size, laser power, and cost.
From a broader perspective, the EIC Accelerator Programme aims at “supporting the development of critical technologies where start-ups and SMEs with disruptive innovations have the potential to scale up and help ensure the future open strategic autonomy of the Union”. The companies receiving funding were selected following a highly competitive process with a success rate of only 3.9% (42 companies were selected from 1083 applicants).
“We are extremely delighted to be selected amongst the recipients of the EIC Accelerator grant”, says Jussi-Pekka Penttinen, CEO & CTO of Vexlum. “Being awarded a grant as part of this extremely competed funding round, with a rigorous evaluation process, is a testimony of the strong innovation that has promoted Vexlum’s operations and sales so far, but also of the business potential of our laser technology. The new project will be used to advance the maturity of the lasers and to develop new volume production processes that allow us to capture the market potential and continue the growth also in the future”, adds Jussi-Pekka.
“This grant is a pivotal opportunity to mitigate the risks in commercialization and scale-up of Vexlum technology. Our comprehensive expertise on III-V semiconductor technology and advanced laser systems, coupled with the resources provided by SEMIQLEAP-project propel Vexlum in an ideal position to create disruptive products and trigger European leadership in the global quantum and lasers markets”, adds Prof. Mircea Guina, Executive Chairman and CSO of Vexlum.
More information: Jussi-Pekka Penttinen, CEO, jp@vexlum.com, +358 40 841 7826