TLDR
- IQM signed a purchase agreement with Brazil’s Eldorado Research Institute to deploy its first quantum computer in South America
- The IQM Spark system will be installed at Eldorado’s Campinas headquarters in Q1 2027
- The deal includes remote access to IQM’s 54-qubit cloud-based system in Europe
- IQM has 26 on-premises systems sold and 17 delivered globally, ahead of peers like IBM
- IQM went public via a blank-check merger in July and is the first European quantum company listed on a major U.S. exchange
IQM Quantum Computers (IQMX) has signed a purchase agreement with Brazil’s Eldorado Research Institute to deploy a quantum computer in South America, the company announced Wednesday. IQMX stock moved 0.21% on the news.
IQM Quantum Computers Oyj, IQMX
The deal marks IQM’s first entry into the South American market, a region that has largely been left out as quantum technology spreads across the U.S., Europe, and Asia.
The IQM Spark quantum computer will be installed at Eldorado’s Campinas headquarters, located about 100km northwest of São Paulo, in the first quarter of 2027.
Campinas sits alongside the Unicamp campus in Brazil’s largest technology cluster. The location gives the system direct reach into a network of universities, startups, and industry partners.
The agreement also includes remote access to IQM’s 54-qubit cloud-based system in Europe. This allows Brazilian teams to develop applications on hardware they own and scale up to larger quantum workloads when needed.
“Brazil has the talent, the research base and the ambition to build a real quantum ecosystem,” said Jan Goetz, CEO and Co-founder of IQM. “What’s been missing is direct access to real quantum computers.”
José Bertuzzo, Superintendent of the Eldorado Research Institute, called the deployment an investment in “people, knowledge and an ecosystem that will prepare Brazil to actively participate in the quantum future.”
IQM Ahead of the Pack on System Sales
IQM currently has 26 full-stack systems sold and 17 delivered globally, including its first system in the United States. The company says that puts it ahead of industry peers like IBM in on-premises sales.
The company reported an order backlog of EUR 102 million in August. That backlog gives investors a clearer picture of near-term revenue than most early-stage quantum companies can offer.
Quantum computing is still in the early stages of commercialization. Enterprise adoption remains limited as fully error-corrected systems are still several years away.
Most quantum speed-up demonstrations so far have been small-scale and limited to research settings. Wider commercial takeup will depend on customers seeing real cost savings from the technology.
Still, on-premises system sales are considered a positive signal of commercial traction in an industry that is largely pre-revenue for most players.
IQM’s Public Market Path
IQM went public through a blank-check merger in early July, resulting in a dual listing on Nasdaq and in Helsinki. It is the first European quantum company to list on a major U.S. stock exchange.
Founded in 2018 and headquartered in Espoo, Finland, IQM employs over 450 people and operates across Europe, Asia, and North America.
The Eldorado deployment is part of IQM’s stated strategy of expanding with partners who want to build their own quantum infrastructure rather than relying solely on cloud access.
The IQM Spark system at Eldorado will support quantum algorithm research, hybrid computing architectures combining HPC and AI, and workforce training in quantum hardware and software.
IQM’s August backlog figure of EUR 102 million remains the most recent financial data point available for the company.
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