The archive · Space, Robots, Defence · Strategic decision · 2018–2026
IQM's on-premises bet lands: Euro-Q-Exa, its 54-qubit Radiance, goes live at LRZ
IQM bets Europe will own rather than rent quantum computers — its 54-qubit Radiance at LRZ becomes Germany's first EuroHPC quantum machine.
IQM Quantum Computers
What the business is
IQM designs, builds and operates full-stack superconducting quantum computers — hardware, control software and cloud access — for on-premises deployment at research institutions and supercomputing centres.
How it started
IQM was founded in Finland in 2018 with the bet that countries would want to own their quantum infrastructure rather than rent it. CEO and co-founder Jan Goetz: "The countries that own their open quantum infrastructure, not just access to the cloud will lead."
What happened
The bet took concrete form in the Radiance platform, superconducting systems designed for deep integration with classical supercomputers — tunable couplers, high-fidelity gates in a lattice topology, cryogenic cooling and low-latency hybrid workflows. In February 2026 Euro-Q-Exa, a 54-qubit Radiance system hosted and operated by the Leibniz Supercomputing Centre (LRZ) in Garching near Munich, began serving European researchers — the first EuroHPC Joint Undertaking quantum computer deployed in Germany, and the second hybrid quantum machine LRZ installed together with IQM. The €25M system and its planned upgrade are co-funded by the European Union (€10M), Germany's BMFTR (€12M) and Bavaria (€3M). It is coupled to LRZ's SuperMUC-NG supercomputer, programmed through the Munich Quantum Software Stack with Qiskit and PennyLane, and opened to researchers via the Munich Quantum Portal.
How it ended up
Euro-Q-Exa is operational and accessible to European researchers through the Munich Quantum Portal and the EuroHPC portal. A second, more powerful system with more than 150 qubits is planned by the end of 2026, with a further substantial upgrade in early 2027. IQM is one of the suppliers behind six EuroHPC quantum systems across Europe, with sister installations in Czechia, France, Italy, Poland and Spain, and says it intends to become the first publicly listed European quantum company via its Real Asset Acquisition Corp merger.
Background
IQM Quantum Computers was founded in Finland in 2018 on a contrarian bet: the institutions that matter in quantum computing would want to own and operate their machines, not rent time on US cloud systems. CEO Jan Goetz's formulation — "The countries that own their open quantum infrastructure, not just access to the cloud will lead" — turned a technology company into an infrastructure bet.
The bet was embodied in the Radiance platform: full-stack superconducting quantum computers engineered for deep integration with classical high-performance computing, with tunable couplers, high-fidelity gates in a lattice topology and cryogenic cooling. Rather than selling generic hardware, IQM made the supercomputing centre the customer-operator, keeping the machine, the operating know-how and the intellectual property on site.
In February 2026 that model produced its flagship milestone: Euro-Q-Exa, a 54-qubit Radiance system hosted and operated by the Leibniz Supercomputing Centre in Garching near Munich, began serving European researchers as the first EuroHPC Joint Undertaking quantum computer deployed in Germany. The €25M programme is co-funded by the European Union (€10M), Germany's BMFTR (€12M) and Bavaria (€3M); the system is coupled to LRZ's SuperMUC-NG supercomputer and programmed through the Munich Quantum Software Stack with standard tools such as Qiskit and PennyLane.
The deployment is designed to expand: a second Radiance system with more than 150 qubits is planned by the end of 2026, with a further substantial upgrade in early 2027. Euro-Q-Exa is one of six EuroHPC quantum systems across Europe — with installations in Czechia, France, Italy, Poland and Spain — and IQM, with more than 350 employees, says it intends to become the first publicly listed European quantum company through a merger with Real Asset Acquisition Corp (Nasdaq: RAAQ).
What has to be true
- Ownership changes who builds the ecosystem: on-premises systems let European institutions retain operating expertise and the IP generated on the machines, rather than sending both to a foreign cloud.
- Deep HPC integration is the wedge: coupling to SuperMUC-NG makes hybrid workflows useful now for climate modelling, computational pharmacology and neurodegenerative disease research.
- The milestone is dated and hard: Euro-Q-Exa went live in February 2026 as Germany's first EuroHPC quantum computer, co-funded with €25M, with a 150-qubit expansion due by end-2026.
- Repeatability signals a working model: IQM is one of six EuroHPC quantum suppliers across Europe and already installed a second hybrid machine at LRZ, evidence that the procurement playbook travels.
What can be applied
Sell ownership, not access: IQM made sovereign HPC centres the operators of their own quantum machines, turning a public procurement into a flagship reference site and a path to scale.
Aftermath
As of February 2026 Euro-Q-Exa is operational at LRZ and open to European researchers through the Munich Quantum and EuroHPC portals. IQM is scaling toward a 150-qubit system by end-2026 and a further upgrade in early 2027, and is pursuing a US listing via its Real Asset Acquisition Corp merger with a possible dual Helsinki listing. The open question is whether sovereign on-premises demand grows fast enough, and hybrid applications deliver soon enough, to turn flagship installations into commercial volume.
Sources
- Europe launches Euro-Q-Exa quantum computer in Germany, strengthening sovereign digital infrastructure
- Europe Launches Euro-Q-Exa Quantum Computer at LRZ to Strengthen Digital Sovereignty
- Erster europäischer Quantencomputer für Deutschland: Euro-Q-Exa nimmt am LRZ seine Arbeit auf
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