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HONEYWELL ANNOUNCES $600 MILLION CAPITAL RAISE FOR QUANTINUUM AT $10B PRE-MONEY EQUITY VALUATION TO ADVANCE QUANTUM COMPUTING AT SCALE

1. Honeywell raised $600 million for its quantum computing subsidiary, Quantinuum. 2. Quantinuum aims for universal fault-tolerant quantum computing with upcoming Helios launch. 3. Partnerships with major firms like NVIDIA and JPMorgan enhance commercial momentum. 4. Investment supports growth in quantum technologies, advancing academic and industrial applications. 5. Honeywell expresses confidence in Quantinuum's capabilities and strategic direction.

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FAQ

Why Bullish?

The substantial capital infusion reflects strong market confidence in Honeywell's quantum initiatives, similar to previous tech industry funding rounds that bolstered long-term stock performance. For example, major investments in cloud computing have significantly benefited associated companies in the past.

How important is it?

The article indicates significant financial backing for a leading-edge technology, which could enhance Honeywell's market position and investor interest, reflective of past financier confidence leading to stock appreciation.

Why Long Term?

Quantum computing developments are expected to create sustained revenue opportunities over years, much like how AI advancements have influenced tech valuations over time. The long-term contracts and partnerships indicate a strategy for ongoing growth rather than immediate results.

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, /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced an approximately $600 million equity capital raise for Quantinuum, developer of the world's highest-performing quantum computer, at a pre-money equity valuation of $10 billion. Quanta Computer, NVentures (NVIDIA's venture capital arm) and QED Investors have joined existing shareholders JPMorganChase, Mitsui, Amgen, Cambridge Quantum Holdings, Serendipity Capital and Honeywell — all of whom have reinvested in this round. The round also includes participation from new investors MESH and Korea Investment Partners. This capital raise will support Quantinuum's advancement of quantum computing at scale, which includes continued progress toward the upcoming launch of Helios, the company's next generation quantum computing system that is expected to launch this year. It will also support Quantinuum's path to becoming the first to perform universal fault-tolerant computing. A full-stack quantum computing provider, Quantinuum is accelerating commercially useful quantum computing with commercially available quantum computers that are the undisputed leaders in performance. Along with some of the most used developer tools and end-applications such as InQuanto, the company's solutions are driving breakthrough scientific discoveries, economic growth and sustainable development.  Quantinuum continues increasing its commercial momentum and earning global recognition. The company will work with NVIDIA as a founding collaborator on breakthroughs at the NVIDIA Accelerated Quantum Research Center.  Additionally, Quantinuum has entered strategic partnerships aimed at innovative quantum computing solutions that will expand the capabilities of classical artificial intelligence and realize next-generation technologies. Quantinuum recently announced partnerships and collaborations with RIKEN, SoftBank Corp., Infineon and STFC Hartree Center, as well as expansions into New Mexico, Qatar and Singapore. The company's collaborations collectively provide substantial investment funding, accelerate research and product development, scale manufacturing capabilities, secure supply chains and foster the overall growth of the quantum technologies industry. For example, the company's Joint Venture in Qatar was selected to deliver advanced quantum computing infrastructure and solutions to the region as part of Qatar's $1 billion investment over the next decade. In Singapore, Quantinuum is enabling access to the company's advanced quantum computer, and to explore and collaborate on quantum use cases, focusing on computational biology.     Vimal Kapur, Chairman and CEO of Honeywell:"Quantinuum continues to meet and exceed our stated objectives — strategically, technically and commercially. We have complete confidence in Quantinuum's ability to continue to lead the quantum revolution and create long-term value for its investors and customers." Scot Baldry, Chief Technology Officer of JPMorganChase:"We have seen firsthand the transformative potential of Quantinuum's technology. We are looking forward to continuing our work together to help accelerate innovation and move closer toward solving real-world problems through quantum applications." Dr. Rajeeb Hazra, President & CEO of Quantinuum: "We are proud to partner with investors who share deep conviction in our vision for the future of quantum and AI. With the continued support of our customers and supply chain partners, this new funding will further extend our leadership, accelerate our roadmap and strengthen the entire quantum ecosystem." J.P. Morgan Securities LLC served as exclusive placement agent to Quantinuum in connection with the financing. Freshfields LLP acted as external legal counsel. About HoneywellHoneywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter, safer, as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. About QuantinuumQuantinuum is the world leader in quantum computing. The company's quantum systems deliver the highest performance across all industry benchmarks. Quantinuum's over 630 employees, including 370+ scientists and engineers, across the US, UK, Germany, and Japan, are driving the quantum computing revolution. For more information, please visit www.quantinuum.com The Honeywell trademark is used under license from Honeywell International Inc.Honeywell makes no representations or warranties with respect to this service. SOURCE Honeywell WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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