A consortium project involving Creotech has been selected for EU funding

Consortium project with the participation of Creotech Instruments entitled "European, Certifiable, Affordable, User-oriented, Secure, Integration-able, Scalable quantum key distribution solutions", submitted under the European Commission's Digital Europe Program under Horizon Europe, was selected for funding, Creotech reported. The total budget of the project is approximately EUR 6.5 million, of which approximately EUR 1.7 million will be allocated to the company and will be financed in 75% by European funds.

The project will be implemented in a consortium led by the Austrian company ID Quantique Europe, and in addition to Creotech, the project partners will be the Austrian Institute of Technology and the Fraunhofer Institute in Germany. It will be part of the initiative to expand the European quantum communication infrastructure (EuroQCI) supporting the development of competences, products and infrastructure for quantum communication, emphasized.

“This project is synergistic with the area of ​​quantum computing in which the issuer has specialized so far. This project will allow the issuer to enter the area of ​​quantum telecommunications, in particular the area of ​​quantum key distribution in the terrestrial network.

The project will last 30 months. The total budget of the project is approximately EUR 6.5 million, of which approximately EUR 1.7 million will be allocated to the company and will be financed in 75% by European funds. As part of the project implementation, extensive production infrastructure of the issuer. the issuer planned to expand this infrastructure independently on the basis of funds obtained from the issue of shares, and thanks to this project the investment of the issuer's own funds will be significantly reduced, ”the release reads.

Creotech Instruments is the largest Polish company producing and delivering to the global market space technologies as well as specialized electronics and apparatus, incl. for quantum computers, quantum cryptography or quantum physics and high energy laboratories. The company made its debut on the NewConnect market in October 2021.

Source