Archer Materials Ltd Halts Stock Trading: 12CQ Project Set for Major Announcement?
Australia’s Archer Materials Ltd has announced a halt to their stock’s trading. The halt will remain until May 5th. If Archer chooses, trading may resume upon release of their announcement. Purportedly, the halt is in relation to their 12CQ project.
“The trading halt is requested to allow the Company time to finalise and execute a material agreement regarding Archer’s12CQ quantum computing chip technology.” – Archer Materials Limited
If you are unfamiliar, the company has been working feverishly to produce a quantum bit, “qubit”, which is stable at room temperature and based upon silicon chip technology.
Qubit stability at temperatures above zero degrees Kelvin (minus 273.15 Celsius) has proven difficult to impossible due to the nature of quantum mechanics and quantum physics. If stabilized at room temperature, incorporating a qubit onto silicon based computing platform would be a breakthrough across the industry.
Both of these feats, when attained, could catapult quantum computing technology into every device.
Continuing their close relationship with Australia’s academia, Archer seems to have all the makings for a breakthrough.
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