EeroQ Corporation has announced an expansion at its quantum computing site in Chicago’s Humboldt Park neighborhood. The company is committing $1.1 million, supported by a state program that helps startups and investments from the Illinois Innovation Venture Fund (INVENT).

“Illinois wants to be a leader in this industry,” Gov. JB Pritzker said in a statement. “We’re proud that EeroQ chose Chicago for its headquarters, which will help bring more investment and jobs for families across our state.”

Founded in 2017, EeroQ is working on a new type of quantum computer that uses electrons floating on liquid helium. This technology allows for fast and efficient development. The company aims to make advances in fields like healthcare, finance, and climate science.

“This investment means more jobs and new opportunities right here in Chicago,” said Lt. Gov. Juliana Stratton. “EeroQ is not only helping to shape the future of technology but also benefiting our local communities.”

Quantum computers can process information much faster than traditional computers, which could lead to major breakthroughs in many areas. EeroQ is well-positioned to take advantage of Illinois’ strong infrastructure and its closeness to important institutions like the Illinois Quantum and Microelectronics Park and the University of Chicago.

Nick Farina, co-founder and CEO of EeroQ, thanked the state for its support. “Illinois has been a great place for our company to grow, and we appreciate the state’s commitment to our work,” he said.

As part of the investment deal, EeroQ plans to create five new full-time jobs and keep eight existing jobs. The EDGE for Startups program helps new companies with tax credits that allow them to reinvest in their growth.

The state has committed billions to support quantum technology, including a $500 million investment in a quantum campus and $200 million for the Chicago Quantum Exchange. Gov. Pritzker has made it a priority to attract investments in this important field, making Illinois a leader in quantum science and technology.

With this new investment, EeroQ is set to play a key role in the future of quantum computing in Illinois, promising to drive innovation and create valuable economic benefits for the state.

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