TORONTO, Feb. 13, 2026 (GLOBE NEWSWIRE) -- Xanadu (Xanadu Quantum Technologies Inc.), a world leader...


TORONTO, Feb.  13, 2026  (GLOBE NEWSWIRE) -- Xanadu (Xanadu Quantum Technologies Inc.), a world leader in photonic quantum computing, today announced the publication of a quantum algorithm that significantly reduces the resource requirements to simulate photochemical reactions on a fault-tolerant quantum computer. Published as a pre-print research paper, "Efficient Simulation of Pre-Born-Oppenheimer Dynamics on a Quantum Computer," this work provides a scalable path for investigating phenomena that are important for many applications, such as photolithography, sustainable energy, and atmospheric chemistry.  Most algorithms for chemistry rely on the Born-Oppenheimer approximation, which assumes that nuclear and electronic motions can be treated separately. While effective for many systems, this approximation fails in crucial scenarios where electronic states are closely coupled, such as in photochemical reactions. These reactions are critical in industries like energy, aerospace, and semiconductors. Xanadu’s new research utilizes a quantum algorithm that simulates both nuclear and electronic motion beyond the Born-Oppenheimer approximation, leading to accuracies beyond what is possible with classical computing.  Critically, these simulations have low resource requirements compared to prior state-of-the-art work. For a common acid-base reaction such as the reaction between ammonia and boron trifluoride, Xanadu’s quantum algorithm provides more than an order of magnitude reduction in cost compared to previous state-of-the-art results.  “Accurately simulating nonadiabatic dynamics remains a formidable challenge for classical computation. By significantly lowering the resource requirements for simulation on a fault-tolerant quantum computer, we are positioning this technology as an essential tool for photochemical processes found in many important industries,'” says Christian Weedbrook, Founder and Chief Executive Officer of Xanadu.  Xanadu’s quantum algorithm is particularly well-suited for reactions in organic and photo-organic systems, which is critical for progressing many important technologies. This research represents a foundational step towards Xanadu’s mission of building quantum computers that are useful and available to people everywhere.  About Xanadu  Xanadu is a Canadian quantum computing company with the mission to build quantum computers that are useful and available to people everywhere. Founded in 2016, Xanadu has become one of the world’s leading quantum hardware and software companies. The Company also leads the development of PennyLane, an open-source software library for quantum computing and application development. Visit xanadu.ai or follow us on X @XanaduAI.  Business Combination  Xanadu recently announced a business combination agreement with Crane Harbor Acquisition Corp. (“Crane Harbor”) (Nasdaq: CHAC), a publicly traded special purpose acquisition company. The combined company, Xanadu Quantum Technologies Limited (“NewCo”), is expected to be capitalized with approximately US$500 million in gross proceeds, comprising approximately US$225 million from Crane Harbor’s trust account, assuming no redemptions by Crane Harbor’s public stockholders, as well as US$275 million from a group of strategic and institutional investors participating in the transaction via a common equity committed private placement investment. NewCo is expected to be listed on the Nasdaq Stock Market and on the Toronto Stock Exchange.  About Crane Harbor Acquisition Corp  Crane Harbor Acquisition Corp is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.  Additional Information About the Proposed Transaction and Where to Find It  The proposed business combination transaction will be submitted to shareholders of Crane Harbor and Xanadu for their consideration. NewCo and Crane Harbor have jointly filed a registration statement on Form F-4 (the “Registration Statement”) to the U.S. Securities and Exchange Commission (the “SEC”). The Registration Statement includes a proxy statement/prospectus to be distributed to Crane Harbor’s shareholders in connection with Crane Harbor’s solicitation of proxies for the vote by Crane Harbor’s shareholders in connection with the proposed transaction and other matters to be described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to Xanadu’s shareholders in connection with the completion of the proposed transaction. After the Registration Statement has been publicly filed and declared effective by the SEC, a definitive proxy statement/prospectus and other relevant documents will be mailed to Crane Harbor shareholders as of the record date established for voting on the proposed transaction. Before making any voting or investment decision, Crane Harbor’s shareholders and other interested persons are advised to read, once available, the preliminary proxy statement/prospectus and any amendments thereto and, once available, the definitive proxy statement/prospectus, as well as other documents filed with the SEC by NewCo and/or Crane Harbor in connection with the proposed transaction, as these documents will contain important information about NewCo, Crane Harbor, Xanadu and the proposed transaction. Shareholders may obtain a copy of the preliminary or definitive proxy statement/prospectus, once available, as well as other documents filed by NewCo and/or Crane Harbor with the SEC, without charge, at the SEC’s website located at www.sec.gov, Crane Harbor’s website at www.craneharboracquisition.com or by emailing investors@xanadu.ai.  Forward-Looking Statements  This communication includes “forward-looking statements” within the meaning of the U.S. federal securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. We have based these forward-looking statements on current expectations and projections about future events. These statements include: the stock exchanges on which the shares of the combined company are expected to trade; proceeds from the business combination and related PIPE; funds received by the combined company from Crane Harbor’s trust account and redemptions by Crane Harbor’s public shareholders; Xanadu’s ability to commercialize its hardware and software; upon the consummation of the business combination, Xanadu becoming the first and only publicly traded pure-play photonic computing company; Xanadu’s ability to leverage photonics as the only medium universally compatible across all quantum modalities for commercialization.  These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, many of which are beyond the control of Xanadu and Crane Harbor. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause the actual results of the combined company following the proposed transaction, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such statements. Such risks and uncertainties include: that Xanadu is pursuing an emerging technology which faces significant technical challenges and may not achieve commercialization or market acceptance; that quantum computing does not become an important part of the global compute ecosystem; Xanadu’s historical net losses and limited operating history; that there is substantial doubt about Xanadu's ability to continue as a going concern; Xanadu’s expectations regarding future financial performance, capital requirements and unit economics; Xanadu’s use and reporting of business and operational metrics; Xanadu’s competitive landscape; Xanadu’s dependence on members of its senior management and its ability to attract and retain qualified personnel; the potential need for additional future financing; Xanadu’s ability to manage growth and expand its operations; potential future acquisitions or investments in companies, products, services or technologies; Xanadu’s reliance on strategic partners and other third parties; Xanadu’s concentration of revenue in contracts with government or state-funded entities; Xanadu’s ability to maintain, protect and defend its intellectual property rights; risks associated with privacy, data protection or cybersecurity incidents and related regulations; the use, rate of adoption, and regulation of artificial intelligence and machine learning; uncertainty or changes with respect to laws and regulations; uncertainty or changes with respect to taxes, trade conditions and the macroeconomic environment; material weaknesses in Xanadu's internal control over financial reporting and the combined company’s ability to maintain internal control over financial reporting and operate as a public company; the possibility that required shareholder and regulatory approvals for the proposed transaction are delayed or are not obtained, which could adversely affect the combined company or the expected benefits of the proposed transaction; the risk that shareholders of Crane Harbor could elect to have their shares redeemed, leaving the combined company with insufficient cash to execute its business plans; the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; the outcome of any legal proceedings or government investigations that may be commenced against Xanadu or Crane Harbor; failure to realize the anticipated benefits of the proposed transaction; the ability of Crane Harbor or the combined company to issue equity or equity-linked securities in connection with the proposed transaction or in the future; and other factors described in Crane Harbor’s filings with the SEC. These forward-looking statements are based on certain assumptions, including that none of the risks identified above materialize; that there are no unforeseen changes to economic and market conditions, and that no significant events occur outside the ordinary course of business. Additional information concerning these and other factors that may impact such forward-looking statements can be found in filings and potential filings by Xanadu, Crane Harbor or the combined company resulting from the proposed transaction with the SEC, including under the heading “Risk Factors.” If any of these risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, these statements reflect the expectations, plans and forecasts of Xanadu’s and Crane Harbor’s management as of the date of this communication; subsequent events and developments may cause their assessments to change. While Xanadu and Crane Harbor may elect to update these forward-looking statements at some point in the future, they specifically disclaim any obligation to do so, unless required by applicable securities laws. Accordingly, undue reliance should not be placed upon these statements.  In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this communication, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.  An investment in Crane Harbor is not an investment in any of Crane Harbor’s founders’ or sponsors’ past investments, companies or affiliated funds. The historical results of those investments are not indicative of future performance of Crane Harbor, which may differ materially from the performance of Crane Harbor’s founders’ or sponsors’ past investments.  No Offer or Solicitation  This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This communication is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering of the securities described herein in the United States or any other jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or exemptions therefrom. INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. This press release is not, and under no circumstances is to be construed as, a prospectus, an advertisement or a public offering in any province or territory of Canada. In addition, no securities commission or similar regulatory authority in Canada has reviewed or in any way passed upon this press release or the merits of any of the securities described herein and any representation to the contrary is an offense.  Participants in the Solicitation  NewCo, Crane Harbor, Xanadu and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitation of proxies from Crane Harbor’s shareholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Crane Harbor’s shareholders in connection with the proposed transaction will be set forth in proxy statement/prospectus when it is filed by NewCo with the SEC. You can find more information about Crane Harbor’s directors and executive officers in Crane Harbor’s final prospectus related to its initial public offering filed with the SEC on April 25, 2025 and in the subsequent Quarterly Reports on Form 10-Q filed by Crane Harbor with the SEC. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests will be included in the proxy statement/prospectus when it becomes available. Shareholders, potential investors and other interested persons should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the sources described above.  Press Contact:press@xanadu.ai  Investor Relations:investors@xanadu.ai  
            

CHAC

Xanadu Develops Quantum Algorithm Closing in on Chemistry's Toughest Challenge

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>TORONTO, Feb. 13, 2026 (GLOBE NEWSWIRE) -- Xanadu (Xanadu Quantum Technologies Inc.), a world leader...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Xanadu&#039;s release of a new quantum algorithm optimizes photochemical reaction simulations. This advancement complements its impending merger with Crane Harbor Acquisition Corp., which will create a publicly traded entity expected to raise US$500 million. Collectively, these developments could position Xanadu as a leader in photonic quantum computing.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Xanadu publicizes a revolutionary quantum algorithm for photochemical reactions.</li><li>New algorithm significantly lowers resource requirements for quantum simulations.</li><li>Xanadu&#039;s business merger with Crane Harbor Acquisition Corp. is forthcoming.</li><li>NewCo to list on Nasdaq with projected US$500 million in gross proceeds.</li><li>CRANE HARBOR shareholders must approve merger through proxy votes.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Xanadu Quantum Technologies Inc. (N/A)</strong>: Leading quantum computing firm poised for growth post-merger.</li><li><strong>Crane Harbor Acquisition Corp. (CHAC)</strong>: Special purpose acquisition company merging with Xanadu, providing liquidity and market access.</li></ul>
  </section>

  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>This news falls under the &#039;M&amp;A&#039; category, as it discusses a significant merger between a SPAC and a tech-oriented company. Such business combinations often lead to substantial market revaluations and integrations of innovative technology, especially in a burgeoning sector like quantum computing.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Completion of the merger could unlock significant investment interest in CHAC shares.</li><li>Successful demonstration of Xanadu&#039;s new technology may attract more institutional investors.</li><li>Any delay or risk in the merger process could adversely impact CHAC&#039;s share price.</li><li>Investors should watch for regulatory approvals impacting the proposed merger.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Xanadu&#039;s new algorithm reduces costs for simulating chemical reactions significantly.</li><li>Combined entity, NewCo, expects US$500 million in gross proceeds and public trading.</li><li>Merger dependent on shareholder approvals from Crane Harbor and Xanadu.</li><li>Xanadu targets applications in energy, aerospace, and semiconductor industries.</li><li>Founded in 2016, Xanadu is a leader in quantum hardware and software.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Buy CHAC to capitalize on the quantum computing growth post-merger, with a 6-12 month outlook.</p>
  </section>
</section>


<article>
    <h2>Xanadu Develops Breakthrough Quantum Algorithm Addressing Chemistry's Toughest Challenges</h2>
    <p>TORONTO, Feb. 13, 2026 (GLOBE NEWSWIRE) — Xanadu Quantum Technologies Inc. (CHAC), a leader in photonic quantum computing, has announced a significant advancement in quantum algorithms aimed at simulating photochemical reactions on fault-tolerant quantum computers. This revolutionary work, titled <em>"Efficient Simulation of Pre-Born-Oppenheimer Dynamics on a Quantum Computer,"</em> was recently published as a pre-print research paper and offers a scalable solution for various applications, including photolithography, sustainable energy, and atmospheric chemistry.</p>

    <section>
        <h3>Understanding the Breakthrough: Beyond the Born-Oppenheimer Approximation</h3>
        <p>Traditional algorithms in chemistry largely rely on the Born-Oppenheimer approximation, which effectively separates nuclear and electronic motions. However, this method has limitations, particularly in scenarios involving closely coupled electronic states as seen in vital photochemical reactions critical for industries such as energy, aerospace, and semiconductors. Xanadu’s new quantum algorithm transcends these limitations, efficiently simulating both nuclear and electronic motions, achieving accuracies that surpass classical computing methods.</p>

        <p>Notably, the new algorithm features reduced resource requirements compared to existing state-of-the-art techniques. For instance, in a typical acid-base reaction between ammonia and boron trifluoride, Xanadu’s quantum algorithm demonstrates a reduction in costs by more than an order of magnitude compared to previous methods.</p>
    </section>

    <section>
        <h3>Industry Implications and Executive Insights</h3>
        <p>Christian Weedbrook, Founder and Chief Executive Officer of Xanadu, remarked, <strong>“Accurately simulating nonadiabatic dynamics remains a formidable challenge for classical computation. By significantly lowering the resource requirements for simulation on a fault-tolerant quantum computer, we are positioning this technology as an essential tool for photochemical processes found in many important industries.”</strong></p>

        <p>The implications of Xanadu's quantum algorithm are profound, particularly for organic and photo-organic systems, which play a crucial role in innovating significant technologies. This research represents a critical milestone towards Xanadu’s commitment to developing quantum computers that are accessible and beneficial to users globally.</p>
    </section>

    <section>
        <h3>About Xanadu and Recent Developments with Crane Harbor Acquisition Corp.</h3>
        <p>Xanadu, founded in 2016, is a Canadian company with a mission to construct quantum computers that are both useful and widely available. It has gained recognition as one of the premier firms in quantum hardware and software, also spearheading the development of PennyLane, an open-source software library for quantum application development. For more information, visit <a href="https://xanadu.ai">xanadu.ai</a> or follow them on X @XanaduAI.</p>

        <p>In exciting recent news, Xanadu has entered into a business combination agreement with Crane Harbor Acquisition Corp. (Nasdaq: CHAC), a publicly traded special purpose acquisition company. The newly formed entity, named Xanadu Quantum Technologies Limited, is projected to achieve approximately <strong>US$500 million</strong> in gross capital proceeds, comprising <strong>US$225 million</strong> from Crane Harbor’s trust account and <strong>US$275 million</strong> from strategic and institutional investors through a committed private placement.</p>

        <ul>
            <li>Expectations for listing on the Nasdaq Stock Market and the Toronto Stock Exchange.</li>
            <li>Proceeds will help drive further advancements in quantum computing technologies.</li>
        </ul>
    </section>

    <section>
        <h3>Next Steps for Shareholders</h3>
        <p>The proposed business combination will be presented to shareholders from both Xanadu and Crane Harbor. A registration statement on Form F-4 is set to be filed with the SEC, which will include a proxy statement/prospectus distributed to Crane Harbor’s shareholders for voting on this significant transaction.</p>

        <p>It is crucial for shareholders and interested parties to review the forthcoming documents to stay informed about this pivotal deal. After the registration statement is declared effective, a detailed proxy statement/prospectus will be sent out, containing essential information regarding the merger and its implications for both companies.</p>
    </section>

    <section>
        <h3>Forward-Looking Statements</h3>
        <p>This communication contains forward-looking statements as defined by U.S. federal securities laws, characterized by terms such as <strong>“estimate,” “plan,” “project,” “expect,”</strong> and others. These statements are based on current expectations and may involve risks and uncertainties. Potential investors should be aware that actual results may vary significantly from those anticipated.</p>

        <p>These forward-looking assessments include projections surrounding the success of the business combination and Xanadu’s ambitions to innovate within the quantum computing field. Stakeholders are encouraged to consider these insights while keeping abreast of future updates on this transformative venture.</p>
    </section>
</article>

Xanadu's release of a new quantum algorithm optimizes photochemical reaction simulations. This advancement complements its impending merger with Crane Harbor Acquisition Corp., which will create a publicly traded entity expected to raise US$500 million. Collectively, these developments could position Xanadu as a leader in photonic quantum computing.

Xanadu Develops Quantum Algorithm Closing in on Chemistry's Toughest Challenge

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

M&A

Related News