Insider Brief
- Quantum Exponential Group signed an MOU with the government-aligned Harwell Quantum Cluster to strengthen domestic support for UK quantum technologies.
- The partnership aligns QE’s £100 million Quantum Technologies Fund with national facilities such as the NQCC and NPL to address the UK’s scale-up funding gap.
- The collaboration aims to support more than 100 quantum companies over the next decade by improving investor access to Britain’s quantum infrastructure and ecosystem.
PRESS RELEASE — Quantum Exponential Group plc (QE) – the UK’s first investor group exclusively focused on quantum technologies – has signed a landmark Memorandum of Understanding (MOU) with the Harwell Quantum Cluster, led by the Science and Technology Facilities Council (STFC), which is part of UK Research & Innovation (UKRI). The partnership brings QE into closer collaboration with one of the UK’s most important government-backed quantum hubs, located on the Harwell Science and Innovation Campus.
The agreement addresses a critical challenge facing British deep-tech startups: the scale-up funding gap that risks homegrown technologies being acquired by foreign investors or relocating overseas, as highlighted by a recent RUSI report. The MOU coincides with QE’s new £100 million Quantum Technologies Fund, created to address the scale-up funding gap that threatens the UK’s ability to compete in the global quantum race.
Protecting UK quantum sovereignty through strategic investment
The Harwell Quantum Cluster is a flagship national environment for quantum innovation. It brings together STFC; the Harwell Joint Venture (Brookfield Asset Management and the UK Atomic Energy Authority); the Department for Science, Innovation and Technology (DSIT); and the Department for Business and Trade. The cluster links directly to the National Quantum Computing Centre (NQCC) on the Harwell Campus and works closely with the National Physical Laboratory (NPL), another major DSIT-backed national hub.
By partnering with this government-aligned infrastructure, QE becomes one of the first private investors to work directly alongside the UK’s national quantum facilities, helping ensure that British quantum breakthroughs translate into British-based companies.
Steve Metcalfe, CEO of Quantum Exponential, said:
“Working directly with the Harwell Quantum Cluster and the London Quantum Cluster, together with national facilities including the NQCC, NPL, and the Institute of Physics, creates a clear pathway to keep quantum innovation, jobs, and wealth creation in the UK. Britain leads the world in quantum research, yet without accessible domestic investment we risk seeing our most promising companies bought up overseas. This partnership reinforces the UK’s technological sovereignty and ensures investors can engage with one of the most dynamic sectors in global deep tech.”
£100 million fund to anchor the UK quantum supply chain
The fund will deploy around two-thirds of its capital into UK companies emerging from the national quantum ecosystem, supporting startups and accelerating commercialisation while strengthening Britain’s domestic quantum supply chain. This commitment complements UKRI’s long-term government investment and attracts essential private capital to translate research into scalable companies.
The fund will invest across quantum computing, sensing, communications, and enabling technologies, from seed to scale. QE brings a proven 3.5-year track record, eight revenue-generating portfolio companies, and performance targets in the top quartile of deep-tech funds (25–33% IRR). The strength of the UK’s sector has already helped secure an anchor Letter of Intent from a major Silicon Valley investor.
Unprecedented access to Britain’s quantum infrastructure
Under the MOU, QE will work with Harwell leadership to identify early-stage companies within government-backed environments and support their growth across the wider ecosystem, including links to the NQCC, NPL, and STFC’s national laboratories. Investors gain unmatched access to Britain’s most advanced quantum facilities.
Over the next decade, the Harwell Quantum Cluster aims to grow more than 100 quantum-focused companies, create over 1,000 high-value jobs, and attract more than £1 billion in public and private investment. This partnership directly supports those ambitions.
QE welcomes interest from family offices, institutional investors, sovereign funds, and strategic industry partners seeking exposure to the emerging global quantum technology sector.