360 views on tech #35
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🍕 Food for thought
Can quantum computers solve the climate crisis?
By Freya Pratty
Europe’s quantum efforts are ramping up. This month saw the launch of the continent’s first dedicated quantum VC fund while governments are also pledging increased support for the industry.
How can quantum computing help the climate crisis?
Computers, both quantum and conventional, are machines which you programme a problem into and get an answer back. The problem with conventional computers is that there are some problems that are so complex that they’d be calculating the answer for thousands of years — or potentially forever.
“The promise of quantum computers is that for some of those problems, they can create a shortcut, which brings the timescale from 1000s of years, to hours, minutes or seconds,” explains IQM’s cofounder and CEO Jan Goetz.
If we’re going to tackle the climate crisis, there are complex problems we need to overcome — and quantum computing companies believe they can help.
Better batteries, more efficient solar and a replacement for concrete
One of the key applications where IQM thinks quantum could have an impact is on developing more efficient batteries to better replace the combustion engine. Quantum computers can more accurately simulate the way chemical processes work at an atomic level — and that precision can help develop more efficient batteries.
The computers could also simulate the processes within a solar power cell, to work out how to increase the percentage of the light spectrum that gets turned into electric energy.
Goetz says the computers could also work on alternatives to materials like concrete (which produces a significant fraction of global emissions), as well as working on energy grid optimisation and making the traffic flow of cities more efficient to lower CO2 emissions.
How big can the impact be?
Quantum computing is still in its early stages. Eventually, companies intend for them to replace large computing centres, which work for days on a problem.At present, conventional computing centres can run faster than quantum, but companies like IQM say the tech should surpass the centres in speed soon.
McKinsey estimates that quantum computing could help develop technologies with the potential to abate 7 gigatonnes of CO2 a year by 2035.
🔴🟠🟡 At 360 Capital, we are always on the lookout for groundbreaking tech making a sustainable impact this is why we invested in C12 Quantum Electronics, which is developing a revolutionary quantum processor built with the use of carbon nanotubes.
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💸 Money matters
- Latana, AI-powered brand tracking and customer insights platform, raised€36M, from Oxx, Balderton Capital and Kreos.
- Figures, salary compensation benchmarking app, raised €6.67M, Point Nine, Seedcamp, Bpifrance and Kima Ventures, Acadian and Entrée
- Jungle, using AI to resolve underperformance and improve machine productivity, raised €5M, SHIFT Invest, Rocks International Group, EDP Ventures, Gorilla Growth Capital and Future Energy Ventures.
- DoxyChain, solution to make document management more secure and fit for the web3 world, raised €2.2M, from Level2 Ventures, CV VC, Polish Satus Starter, and a German family group of companies: Müller Medien.
😂 Meme of the week
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