IQM Quantum Computers (IQMX) Expands to Brazil with Landmark South American Deal

Key Highlights

• Finland-based IQM Quantum Computers secured a landmark agreement with Eldorado Research Institute to install Brazil’s first on-site quantum computer
• Installation of the IQM Spark platform is scheduled for early 2027 at Eldorado’s Campinas facility
• Brazilian researchers will gain remote connectivity to IQM’s European 54-qubit cloud infrastructure
• With 26 full-stack systems under contract and 17 installations complete, IQM leads competitors including IBM in on-site deployments
• The Finnish company became Europe’s first publicly-traded quantum firm on a major U.S. exchange following its July SPAC transaction

IQM Quantum Computers (IQMX) announced Wednesday a groundbreaking partnership with Eldorado Research Institute in Brazil, bringing quantum computing technology to South America for the first time through an on-premises deployment. IQMX shares gained 0.21% following the announcement.

IQM Quantum Computers Oyj, IQMX

This agreement represents a significant geographical milestone for IQM as it enters the South American market, a region that has remained largely untapped while quantum infrastructure has expanded throughout North America, Europe, and parts of Asia.

Eldorado’s facility in Campinas will host the IQM Spark quantum computing platform, with installation targeted for the opening quarter of 2027. The site is approximately 100 kilometers northwest of São Paulo.

The strategic location within Brazil’s premier technology hub places the quantum system at the center of an innovation ecosystem that includes Unicamp and numerous tech ventures, enabling collaboration across academia and industry.

Under the terms of the partnership, Eldorado will also secure access to IQM’s more powerful 54-qubit European cloud infrastructure. This dual approach enables Brazilian researchers to work on locally-hosted hardware while leveraging greater computational capacity for demanding quantum applications.

“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, characterized the initiative as a commitment to “people, knowledge and an ecosystem that will prepare Brazil to actively participate in the quantum future.”

IQM Leads Industry in On-Premises Installations

IQM reports 26 complete quantum systems under contract worldwide, with 17 already operational, including its inaugural U.S. deployment. According to the company, this positions it ahead of established players like IBM in the on-site quantum computing market.

August figures revealed an order pipeline worth EUR 102 million, providing unusual revenue visibility for a sector where most companies remain pre-commercial.

The quantum computing industry continues navigating its early commercial phase. Enterprise adoption faces hurdles as fault-tolerant, error-corrected systems remain years from reality.

Demonstrated quantum advantages have largely occurred in controlled research environments with limited scope. Broader market penetration hinges on proving tangible economic benefits and operational cost reductions.

Nevertheless, securing on-premises system sales signals meaningful commercial momentum in an industry where revenue generation remains elusive for most participants.

Path to Public Markets

IQM completed its transition to public markets via a special purpose acquisition company merger in July, establishing dual listings on Nasdaq and the Helsinki exchange. The transaction marked a historic first for European quantum technology companies seeking U.S. capital markets access.

Established in 2018 with headquarters in Espoo, Finland, IQM has grown to more than 450 employees with operations spanning Europe, Asia, and North America.

The Brazilian partnership aligns with IQM’s strategic focus on organizations seeking proprietary quantum infrastructure rather than exclusive reliance on cloud-based quantum services.

At Eldorado, the IQM Spark installation will enable quantum algorithm development, exploration of hybrid computing models integrating high-performance computing and artificial intelligence, and comprehensive workforce development in quantum technologies.

The EUR 102 million backlog disclosed in August represents the latest available financial metrics from the company.