Queensland reveals detail of equity stake in PsiQuantum

Joseph Brookes
Senior Reporter

The Queensland government’s $465 million investment in PsiQuantum includes a US$125 million (A$188 million) convertible note, offering the state a potentially valuable share in the US firm vying to build the world’s first quantum computer.

InnovationAus.com can reveal Queensland’s stake in the US firm – which was founded by two Australians – after a secretive selection process and then a delay between the announcement of the deal and the actual contract being signed had kept the information from public view.

The state government’s A$465 million investment comprises a US$125 million convertible note, a conditional A$200 million construction and term debt facility, and a conditional A$75 million economic development and credit support facility.

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