Australia’s quantum manufacturing capability is set to expand following a $20 million investment by the National Reconstruction Fund Corporation (NRFC) in Sydney-based Silicon Quantum Computing (SQC), a company specialising in atomic-scale semiconductor manufacturing and quantum computing technologies.
The investment, announced by the NRFC, is aimed at supporting the growth of SQC’s proprietary Precision Atom Qubit Manufacturing (PAQMan™) process, which the company describes as enabling the manufacture of quantum chips with atomic precision.
According to the NRFC, the funding will help accelerate the development of next-generation atomic electronics and strengthen Australia’s domestic quantum industry.
The announcement comes as Australia seeks to build sovereign capabilities in advanced manufacturing and emerging technologies. The Federal Government’s National Quantum Strategy estimates the country’s quantum industry could be worth $6 billion and support 19,400 jobs by 2045.
Industry and Innovation Minister Tim Ayres said the investment would support the commercialisation of Australian-developed technology.
“This investment backs Australian ingenuity and ensures world-leading quantum technologies are designed, built, and commercialised here at home,” Ayres said.
“Developed in Australia over 25 years, SQC’s world-leading technology shows what a Future Made in Australia looks like in practice, turning Australian research into Australian manufacturing, delivering sovereign semiconductor and quantum capability, highly skilled jobs, and global opportunity.”
Founded in 2017 at the University of New South Wales by Professor Michelle Simmons AC, SQC is one of a small number of companies globally pursuing commercial-scale quantum computing. The company is also among 11 organisations worldwide to reach stage B of the US Defense Advanced Research Projects Agency’s Quantum Benchmarking Initiative.
According to the NRFC, SQC’s in-house manufacturing capability allows it to design, produce and test new quantum chips in less than a week, supporting rapid development of its quantum computing technology. The company currently offers two commercial products, Watermelon™, a quantum machine learning system, and Quantum Twins™, a quantum simulation platform.
NRFC chief executive David Gall said the investment aligned with the organisation’s objective of supporting advanced manufacturing and Australian innovation.
“Silicon Quantum Computing is a leader in the field of silicon-based quantum computing, and we are proud to be investing in a company that creates highly skilled jobs, commercialises Australian innovation, and helps to build our sovereign quantum capability,” Gall said.
“Australia leads the world in quantum computing, and SQC’s in-house manufacturing allows the company to iterate significantly faster, and with greater accuracy, than its competitors.”
SQC employs more than 100 people in Sydney and said the investment is expected to support additional jobs in areas including quantum engineering, chip design, hardware engineering and sales.
SQC founder and chief executive Michelle Simmons said the funding would help accelerate the company’s long-term objectives.
“From day one, SQC’s mission has been clear: To build the world’s first commercial-scale quantum computer in silicon, right here in Australia,” Simmons said.
“Our globally unique manufacturing capability gives us a decisive advantage in the global race, and NRFC’s investment allows us to accelerate that mission.”
The NRFC said the investment forms part of a broader funding round involving existing investors including Commonwealth Bank, Telstra, the University of New South Wales, the NSW Government and the Australian Government.
On 11 June 2026, the NRFC also announced an additional $40 million investment in SQC to support the development and expansion of the company’s quantum chip manufacturing capability.
