Pasqal Holding SA

Pasqal Holding SA develops quantum computing systems. On August 24, 2026, Pasqal announced a memorandum of understanding with Eleven Ventures, an investment platform and venture capital firm based in the Kingdom of Saudi Arabia, to establish a commercial joint venture. This joint venture aims to deploy, commercialize, and scale Pasqal's quantum computing systems across the Kingdom of Saudi Arabia and the wider region. The joint venture is intended to deploy and operate Pasqal's neutral-atom systems in the Kingdom, bring its offerings to market for customers in the Kingdom and the wider region, and develop local talent and expertise. HRH Abdulaziz bin Turki bin Talal Al Saud, the founder of Eleven Ventures, is expected to be appointed as Chairman of the Board of the joint venture entity, Pasqal Arabia. On August 12, 2026, Pasqal entered into a research collaboration agreement with King Abdulaziz City for Science and Technology (KACST), represented by its National Center for Quantum Technologies. This agreement aims to advance research and development across multiple domains of quantum technology and enhance quantum cryptography readiness in the Kingdom of Saudi Arabia. Under the agreement, Pasqal's neutral-atom quantum processing technology and cloud services will be paired with KACST's national research infrastructure to develop, test, and validate quantum-safe cryptographic solutions. This work will be carried out at the National Center for Quantum Technologies. Quantum cryptography is the initial focus area of what the parties intend to be a broader multi-year research program, with a shared objective of ultimately bringing commercial offerings to the Saudi market. This agreement complements Pasqal's other activities in the Kingdom, including its deployment of QPUs with Saudi Arabian Oil Company.