REG - UIL Limited UIL Finance Ltd - Portfolio update – Diraq

UILAnnouncement

22/05/2026 11:15

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RNS Number : 4826F  UIL Limited  22 May 2026

22 May 2026

UIL LIMITED

(LEI Number: 213800CTZ7TEIE7YM468)

Portfolio update - Diraq

The Board of UIL Limited ("UIL" or the "Company") is pleased to announce that
its investee company Diraq Pty Ltd ("Diraq") has signed a Letter of Intent
(LOI) with the U.S. Department of Commerce for up to $38 million in proposed
federal funding from the CHIPS Research and Development Office. This award
will support production and scaling of fault-tolerant silicon quantum
computing processors via the U.S. semiconductor industry.

Diraq is pioneering the use of silicon-based quantum processors, which have
the ability to contain millions of qubits on a single chip, and are fabricated
with existing semiconductor manufacturing processes. This investment will
accelerate Diraq's roadmap to enable an end-to-end quantum supply chain.
Founded in Sydney, Australia, Diraq has U.S. offices and labs in Palo Alto and
Chicago, and will soon open a significant new operation in Los Angeles. The
company is growing its team and business in the United States and is actively
working with domestic partners to further accelerate the U.S. quantum
ecosystem

UIL's investment in Diraq is through Allectus Quantum Holdings Limited, an
investment holding company for quantum technology investments with its current
portfolio comprising only an investment in Diraq.  As at 30 April 2026,
Allectus Quantum Holdings Limited represented 8.4% of UIL's investment
portfolio.

 

 

Name of contact and telephone number for enquiries:

 

Charles Jillings

ICM Investment Management Limited

Telephone: 01372 271486

 

 

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