Pasqal CEO: Aramco deal shows quantum computing moving from research to reality

Investing.com -- Pasqal, the neutral-atom quantum computing company preparing to go public via SPAC merger with Bleichroeder Acquisition Corp. II (NASDAQ: BBCQ), is positioning itself as a leader in commercial quantum deployment following the inauguration of Saudi Arabia's first quantum computer and a string of recent partnership announcements.

Pasqal CEO Wasiq Bokhari has described the company's deployment with Aramco as evidence that "the most demanding industrial challenges in the world are now being tackled with Pasqal's quantum processors, software and specific solutions."

The 200-qubit neutral-atom system, located at Aramco's data center in Dhahran, gives the energy giant low-latency cloud access to quantum hardware for use cases including reservoir optimization, CO2 storage, well placement, rig scheduling and port logistics.

This week, Bokhari told Investing.com in an interview that classical computers struggle with problems like rig scheduling, which involves coordinating equipment, personnel, transportation and safety regulations across an enormous number of possible configurations.

"We expect that neutral-atom quantum computing will be able to explore a much larger solution space more efficiently," he said, adding that this should enable higher-quality outcomes such as reduced delays and improved resource utilization as complexity grows. "Classical systems often rely on approximations, whereas we expect that neutral-atom quantum computing will be able to explore a much larger solution space more efficiently. We believe this will make it possible to identify higher-quality optimization outcomes—such as reduced delays or improved resource utilization—particularly as complexity grows."

The Dhahran system also became the Middle East's first commercial Quantum Computing as a Service platform, allowing other regional enterprises and research institutions to access the hardware remotely.

Bokhari said Pasqal's neutral-atom architecture operates at room temperature, avoiding the cryogenic infrastructure required by competing quantum modalities, which he said makes deployment "easier to install and simpler to integrate into existing data center environments."

As for the Middle East in general, Bokhari believes the launch of the first quantum computer “significantly expands regional access to quantum computing, making these capabilities available to a much broader range of local businesses and institutions via a secure cloud platform.”

“Companies can now remotely access quantum hardware without investing in their own infrastructure, lowering barriers to entry and accelerating experimentation, innovation and utilization,” he added.

The milestone builds on a foundation laid by Wa’ed Ventures, Aramco’s venture capital arm, which invested early in Pasqal in 2023 and has supported the localization of its technologies and operations.

Pasqal's public listing push has continued in parallel. The company filed a registration statement with the SEC in late May tied to its proposed business combination with Bleichroeder, which values Pasqal at $2.0 billion pre-money and is expected to deliver approximately $500 million in gross proceeds.

Pasqal has seven quantum processing units already deployed in the field, with three more in production, giving it what it describes as one of the largest installed bases among pure-play quantum computing companies.

Looking ahead, Bokhari said Pasqal plans to expand into financial services, energy, logistics, and specialty materials, including magnets, batteries, and semiconductors.

“Pasqal is focusing on sectors where our quantum computing can deliver near-term impact in optimization, simulation, and AI,” the Pasqal CEO commented. “This includes financial services, energy including oil and gas, logistics and specialty materials including magnets, batteries and semiconductors.”

That strategy was underscored on Tuesday with an announcement that Pasqal is deepening its partnership with Crédit Agricole CIB to move quantum computing applications in capital markets toward production deployment, with initial use cases targeted as early as 2028.

In a press release, Bokhari said the collaboration is "combining advanced neutral atom quantum technology with real-world financial use cases to build a clear path toward production-scale deployment."

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