Archer Materials Extends Queen Mary University Partnership in AU$279,000 Deal; Shares Down 3%

MT Newswires Live

2025/05/12

Archer Materials (ASX:AXE) extended its partnership with Queen Mary University of London to build on work for quantum bit demonstration as part of its quantum technology program, according to a Monday Australian bourse filing.

Quantum bit, or qubit, is used in encoding data in quantum computing, according to IBM.

The cost of the six-month extension to the partnership is estimated to be about AU$279,000.

Archer Materials' shares fell 3% in recent Monday trade.

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