Key Highlights
- Finland-based IQM has inked a landmark contract with Eldorado Research Institute to bring quantum computing to Brazil
- Eldorado’s Campinas facility will receive the IQM Spark quantum system during the first quarter of 2027
- Brazilian researchers will gain remote access to IQM’s European-based 54-qubit cloud platform
- With 26 systems sold and 17 already deployed worldwide, IQM outpaces competitors including IBM in physical installations
- The Finnish quantum firm became the first European quantum computing company on a major U.S. exchange following its July SPAC merger
IQM Quantum Computers (IQMX) announced Wednesday it has finalized a purchase contract with Eldorado Research Institute in Brazil, bringing quantum computing technology to South America for the first time. IQMX shares climbed 0.21% following the announcement.
IQM Quantum Computers Oyj, IQMX
This agreement represents IQM’s inaugural venture into South American territory, a continent that has remained largely untapped while quantum technologies have proliferated throughout North America, Europe, and various Asian markets.
Eldorado’s headquarters in Campinas—situated approximately 100 kilometers northwest of São Paulo—will house the IQM Spark quantum computing system when installation completes in early 2027.
The Campinas location offers strategic advantages, positioned adjacent to the Unicamp campus within Brazil’s most significant technology hub. This placement provides immediate connectivity to an extensive network encompassing academic institutions, emerging tech companies, and established industry collaborators.
Beyond the physical installation, the partnership grants Brazilian research teams remote connectivity to IQM’s European-based 54-qubit cloud quantum system. This dual-access model enables local teams to conduct development on proprietary hardware while leveraging more powerful quantum resources for complex computational tasks.
“Brazil possesses the intellectual capital, academic infrastructure, and strategic vision necessary to cultivate a thriving quantum technology sector,” stated Jan Goetz, CEO and Co-founder of IQM. “The missing piece has been hands-on access to operational quantum hardware.”
José Bertuzzo, Superintendent at Eldorado Research Institute, characterized the installation as a strategic investment in “human capital, intellectual property, and an innovation ecosystem that positions Brazil as an active contributor to the quantum revolution.”
IQM Leads in Physical System Deployments
IQM has successfully secured purchase agreements for 26 complete quantum computing systems, with 17 units already operational at client sites worldwide, including its inaugural U.S. deployment. According to company statements, this positions IQM ahead of established competitors such as IBM in the on-site system sales category.
In August, the company disclosed an outstanding order backlog valued at EUR 102 million. This substantial backlog provides market observers with more tangible revenue visibility compared to most nascent quantum computing ventures.
The quantum computing sector remains in its commercial infancy. Enterprise-level adoption continues to face barriers as fully fault-tolerant, error-corrected quantum systems remain years from market readiness.
To date, most demonstrations of quantum computational advantages have been confined to laboratory environments with limited scope. Broader commercial acceptance hinges on enterprises recognizing measurable economic benefits and operational efficiencies from quantum technology implementation.
Nevertheless, physical system sales serve as an encouraging indicator of market traction within an industry where most participants have yet to generate substantial revenue.
IQM’s Journey to Public Markets
IQM completed its transition to public markets via a SPAC transaction in early July, establishing dual listings on both Nasdaq and the Helsinki exchange. This milestone made IQM the inaugural European quantum computing firm to achieve listing status on a prominent U.S. stock market.
Established in 2018 with headquarters in Espoo, Finland, IQM has grown to employ more than 450 professionals with operations spanning European, Asian, and North American markets.
The Eldorado partnership aligns with IQM’s deliberate growth strategy focused on collaborating with organizations seeking to establish proprietary quantum computing infrastructure rather than depending exclusively on cloud-based quantum services.
At the Eldorado facility, the IQM Spark system will enable quantum algorithm development, hybrid computational frameworks integrating high-performance computing with artificial intelligence, and comprehensive workforce development programs covering quantum hardware engineering and software development.
The EUR 102 million order backlog disclosed in August represents the most current financial metric publicly available from IQM.
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