Key hire positions the quantum processor leader for rapid global growth and industrial production. Delft, The Netherlands – October 15, 2025 // QuantWare, the world’s highest-volume supplier of quantum processing units (QPUs), has today announced that it has named Jean-Pierre Pennacino, a seasoned financial executive, as Chief Financial Officer. Pennacino brings nearly three decades of experience in Semicon and high-growth technology companies, including senior leadership roles at STMicroelectronics and Motorola Semiconductor, and most recently as CFO at MedAlliance Swiss Medical Technology – a company that was acquired for 1.1B$ under his leadership. This announcement follows the news that QuantWare’s 64-qubit Tenor QPU will power Italy’s largest quantum computer. Pennacino joins QuantWare with a powerful track record in financing the growth phase of deep-tech companies, guiding them to industrial-scale production. Powered by the company’s proprietary 3D scaling architecture VIO, QuantWare is solving critical industry bottlenecks by unlocking utility-scale quantum processing units. The company’s Quantum Open Architecture (QOA) significantly lowers the time and capital required to build world-class quantum computers, allowing companies to scale their systems to large QPU sizes. “I’m thrilled to join QuantWare at such a pivotal moment on its journey and for the Quantum industry,” said Jean-Pierre Pennacino. “VIO is the key breakthrough technology that unlocks utility-scale quantum processors, and delivering it at the scale required will demand bold strategic investment. My priority is to combine QuantWare’s world-class technical capabilities with financial agility, ensuring we secure the right capital mix while structuring the company for sustained, scalable growth and rapid international expansion.” “At QuantWare, we’ve assembled an exceptional high-performance team to match our ambition,” said Matt Rijlaarsdam, CEO of QuantWare. “As the company moves rapidly towards industrial scale-production and international expansion, we’re bringing leadership on board who have an exemplary track record in scaling growth companies. Jean-Pierre is exactly that – a world-class executive who combines discipline and experience with the ability to execute with confidence and speed.” Editors Notes About QuantWare QuantWare is building the world’s most powerful quantum processors, and is today the highest-volume supplier of quantum processing units (QPUs) worldwide, with customers in more than 20 countries. Its unique VIO 3D scaling architecture is the only technology that unlocks MegaQubit-scale, ultra-high-speed quantum processors, delivering exponentially more performance per Watt per dollar invested. VIO paves the way for the hyper-scale quantum computers that will solve humanity’s greatest challenges. The company was founded in 2021 by quantum computing experts Matt Rijlaarsdam and Alessandro Bruno as a spin-out from QuTech, a globally-leading quantum computing research institute, part of TU Delft in the Netherlands. The company has won multiple awards, including the Deloitte Technology Fast 50 Rising Star award in 2024. For more information, visit www.quantware.com and follow us on LinkedIn.

EARTO, the European Association of Research and Technology Organisations, awarded SemiQon and VTT first prize in the “Impact Expected” category on 14 October 2025 in Brussels for a pioneering cryogenic CMOS (complementary metal-oxide semiconductor) chip innovation. The solution enables the full capacity of advanced CMOS functionalities at cryogenic temperatures, thereby unlocking new possibilities for quantum computing and space applications. ”Although cryogenic electronics may seem niche today, they will soon become mainstream first driven by quantum computing and aerospace. SemiQon, leveraging VTT’s foundational work, is proud to be driving this shift globally. We’re truly honoured to receive this award, which highlights the promise of our technology and the impact we aim to create,” shares Himadri Majumdar, CEO of SemiQon. “Innovations such as the cryo-CMOS offer the opportunity to renew businesses and drive significant growth to society. This recognition goes beyond a single breakthrough. It celebrates the vital role that research and technology organisations play in strengthening Europe’s competitiveness, building resilience and addressing global challenges,” notes Tauno Vähä-Heikkilä, Vice President, Microelectronics and Quantum technology at VTT. “Although cryogenic electronics may seem niche today, they will soon become mainstream first driven by quantum computing and aerospace. SemiQon, leveraging VTT’s foundational work, is proud to be driving this shift globally.” With its superior energy efficiency and performance, SemiQon’s Cryo-CMOS chip solutions do not have the energy consumption and heat dissipation issues that have hindered the wide deployment of CMOS so far. For space applications, it offers 50-90% lower power consumption. In the short term, it can reduce the cost and volume of quantum computers readout infrastructures by up to 30%, and over tenfold in the long-term. Furthermore, by eliminating the need for separate infrastructure for cooling the chips, the innovation paves the way for more sustainable supercomputers and data centres, potentially saving USD 20-30 billion globally in annual cooling costs. The technology was originally developed at VTT. SemiQon spun off from VTT in 2023 to advance cryogenic CMOS chips to achieve superior energy efficiency and performance. Production of the chips takes place in European pilot line foundries Micronova and in future also in the forthcoming Kvanttinova hub, operated by VTT in Espoo, Finland. Micronova is the largest semiconductor R&D cleanroom facility in the Nordics, while the Kvanttinova hub is currently at the peak of its planning stage. Cryogenic CMOS technology is set to revolutionise multiple industries. It has the potential to contribute to various United Nations’ Sustainable Development Goals by enabling breakthroughs in quantum computing, energy-efficient electronics, space exploration and even environmental monitoring. “Growth requires not only renewal of industry but also the emergence of new startups. By spinning off technologies into new companies like SemiQon, VTT transforms years of research and development into real-world impact.” Beyond its environmental and economic benefits, this innovation is strengthening the European semiconductor industry and supports Europe’s strategic autonomy in critical technologies. “Growth requires not only renewal of industry but also the emergence of new startups. By spinning off technologies into new companies like SemiQon, VTT transforms years of research and development into real-world impact, while simultaneously strengthening Europe’s competitiveness and resilience,” says Vähä-Heikkilä. About Cryogenic CMOS Cryogenic CMOS is a chip built using semiconductor materials and transistors, using innovative design and industrial processing that can function at super-cold temperatures (below -270°C). The chips are required, for example, by quantum computers and for space electronics applications. Within the next two years, product testing with customers will begin in the customers’ product environments. The global market for Cryo-CMOS is worth over EUR 3 billion and is expected to reach EUR 10 billion by 2030. SemiQon’s chip manufacturing cost is more than 50% lower than competitors. SemiQon’s successful funding rounds After securing its initial funding round by February 2023, SemiQon has been successful in several highly competitive funding applications independently and through different consortium projects. In the spring of 2025, the company announced that the European Innovation Council had awarded it EUR 2.5 million in a competitive, non-dilutive grant and an additional EUR 15 million of equity-based ear-marked funding. More information about SemiQon SemiQon’s mission is to realise the promise of quantum computing by delivering scalability through powerful, resilient, and cost-effective quantum processors. Its technology builds upon decades of development and know-how from the semiconductor industry, making its quantum integrated circuits and other components commercially competitive and well-suited for mass-manufacturing. SemiQon’s first-in-the-world cryo-optimised CMOS forms the basis of its quantum chips and has wide-ranging applications in quantum, space, and beyond.   Read more here.