Finland's Business Finland allocates €2.79 million to support two quantum technology projects by QMill and ESL Shipping.
The Finnish government agency Business Finland has announced a funding initiative totaling €2.79 million to support two key industrial quantum technology projects. The recipients of this funding include QMill, a software developer, and ESL Shipping, a maritime logistics company.
The allocation of funds is as follows:
- €1.09 million designated for ESL Shipping's Smart Fleet Optimization project;
- €1.7 million awarded to QMill for its Supernova research initiative.
ESL Shipping's project aims to implement a hybrid computational model that integrates classical computing with quantum algorithms to enhance fleet optimization. This approach is particularly relevant to tramp shipping, where operational scheduling is influenced by factors such as cargo flow, power limitations, emissions, and market demands.
Meanwhile, QMill's Supernova initiative is focused on developing algorithms suited to the constraints of current noisy intermediate-scale quantum (NISQ) systems. The project's objective is to pinpoint commercially viable applications in sectors like energy, transportation, and telecommunications where quantum computing might outpace classical computing solutions.
Supernova builds on the foundation of the QMill program, which was initiated in 2024 with the backing of Business Finland. This funding is part of a broader national strategy aimed at bolstering Finland's position as a quantum technology hub in Northern Europe, showcasing how quantum tools can be leveraged in heavy industry and logistics to minimize fuel usage and adhere to environmental standards.
Additionally, in a related development, Quantinuum and BP have commenced a collaborative project in May to utilize quantum computing for subsurface exploration and geological mapping.
