IQM, Quantinuum and Creotech: getting to know Europe’s quantum computing industry

One promising use is studying how molecules interact. As quantum computers become more capable, they could help researchers explore potential medicines and new materials in greater detail, giving them a better idea of what to test in the lab. These applications are still developing, but they show why the technology is attracting interest. NIST’s explanation of quantum computing

In this article, we’ll look at the European companies building quantum computers, the specialists supplying their equipment and the businesses preparing for their potential impact on data security.

AI and quantum computing in drug research

The emerging approach combines quantum processors with the computers we already use. Conventional machines handle data and much of the calculation, while a quantum processor tackles a particular part that suits its capabilities. IBM’s March 2026 computing blueprint describes how quantum processors, ordinary processors and the graphics chips used for AI could work together. IBM’s hybrid computing blueprint

An example of that ambition comes from France’s Quandela. In October 2026, it announced a research agreement with South Korea’s Korea Research Institute of Bioscience and Biotechnology, known as KRIBB. The partners want to combine AI, conventional computing and quantum computing to help identify promising candidates for laboratory testing. AI would narrow the possibilities, with the other computing methods handling different parts of the remaining work.

This is a research programme whose benefits still need to be established. Its purpose is nevertheless easy to understand: help researchers make better choices about what to test next. Quandela and KRIBB’s research plans

For these applications to develop, quantum computers need to preserve information reliably throughout a calculation. Their basic units of information, called qubits, are fragile. Small disturbances can introduce mistakes, which become a bigger problem as calculations get longer.

Researchers are therefore developing ways to detect and correct errors. Google’s Willow research demonstrated that using more physical qubits together could protect stored quantum information more effectively. That was progress in reliable quantum memory; performing a long, useful calculation involves further work. Google Quantum AI’s published research

This helps explain why a larger qubit count alone cannot tell us how useful a machine will be. The interesting question is what it can calculate reliably, and whether that helps someone do a job better.

Computer builders and equipment suppliers

Europe has businesses building complete quantum computers as well as companies supplying the specialised equipment they need.

Finland’s IQM Quantum Computers builds machines that universities, research centres and businesses can install and operate themselves. On 23 October 2026, IQM and Telefónica announced plans to install an IQM Spark computer at the Universidad Politécnica de Madrid before the end of the year. It is designed for research, education and early development, giving users a way to learn on actual quantum hardware and test potential applications. IQM and Telefónica’s Madrid announcement

Investors can also buy shares in IQM. Its American depositary shares began trading on Nasdaq in July 2026, followed by its ordinary shares in Helsinki, both under IQMX. These are two listings of the same Finnish business. IQM’s listing details

France’s Pasqal uses individual atoms controlled with lasers to perform quantum calculations. In June 2026, it announced the inauguration of a machine at CINECA, Italy’s public supercomputing centre in Bologna. Designed to work with the Leonardo supercomputer, the installation gives researchers a place to develop and test applications that combine conventional and quantum computing. Pasqal’s CINECA installation

Quandela takes a different route, using particles of light. It delivered its Lucy computer to the French research organisation CEA in October 2025, together with Germany’s attocube systems. Lucy subsequently became one of the machines available through EuroHPC’s quantum access programme, launched in June 2026. Researchers and businesses can apply to use these machines for testing and development, giving them access without having to buy a computer themselves. Lucy’s delivery, EuroHPC’s access programme

Europe’s contribution also extends to companies with international roots. Quantinuum was formed in 2021 by combining the UK’s Cambridge Quantum with Honeywell Quantum Solutions. It is now headquartered in Colorado, with operations in the UK and Germany, and trades on Nasdaq as QNT. Quantinuum’s company and listing information

Quantinuum develops both quantum computers and software for using them. Its InQuanto software gives researchers tools for studying molecules and materials using quantum computers, with potential applications in drug discovery and material design. Quantinuum’s InQuanto software

Alongside the computer builders, specialist suppliers provide equipment for quantum research. Poland’s Creotech Quantum S.A., which we cover on ETE, sells electronics that control equipment used in quantum experiments. Its Sinara modules send precisely timed signals and collect measurements, helping researchers coordinate lasers, detectors and other instruments. Customers can buy individual modules or assembled systems, with training and support. Creotech Quantum’s products and services

These suppliers can sell equipment while the wider industry is still developing its applications. Their longer-term opportunity depends on whether laboratories and computer builders need more of it as their projects grow. This gives Europe several ways to participate, from building a processor to making its surrounding equipment work reliably.

Protecting data from quantum attacks

More capable quantum computers could also threaten some of the encryption methods used to protect digital information. Hence the work already under way to introduce new methods designed to resist quantum attacks. These can run on conventional computers, so organisations can start upgrading their protection before a powerful quantum computer becomes available. NIST has published standards for this transition and is encouraging organisations to begin adopting them. NIST’s post-quantum security guidance

Germany’s secunet Security Networks AG offers a concrete example. Its SINA Communicator H, used for protected voice and data communication, already incorporates post-quantum cryptography. The product helps government and defence users communicate securely while preparing for future threats. secunet’s SINA Communicator H

For businesses such as secunet, the work is helping customers adapt the equipment and networks they use today. That is a different commercial opportunity from building the quantum computer itself.

The market for quantum computers and services

Europe therefore has a starting position that includes computer builders, specialist suppliers and facilities where potential customers can try the technology. The challenge is turning that activity into products that people keep using and paying for. The European Commission’s Quantum Europe Strategy identifies this gap between research strength and commercial growth, alongside the difficulty of coordinating efforts across countries. European Commission’s quantum strategy

McKinsey estimates that worldwide spending on quantum-computing hardware, software and services could reach $43 billion to $71 billion in 2035, if developers achieve their technology plans. That is a conditional market forecast, rather than revenue already being earned or a guaranteed opportunity for any particular company. McKinsey’s October 2026 outlook

The next stage will take shape through work like the European computing installations and Quandela’s biotechnology research: giving people access to the machines, developing applications and finding out where they help. Along the way, smaller companies supplying electronics, equipment and security may become familiar names to the customers building this future.

Explore ETE’s quantum technology theme and our company profiles of IQM Quantum Computers, Quantinuum and Creotech Quantum S.A..