QTREX Quantum Ltd. said it has entered into a binding agreement with a prominent, unnamed company in the quantum computing sector after successful product testing. Its shares rose 40.2% on Friday on exceptionally high trading volume, following a 15.1% gain on Thursday.
The company, which specializes in cryogenic connections and thermal management for quantum computers, described the test results as a categorical improvement. QTREX said the results will be essential to developing million-qubit machines.
QTREX also said it expects to announce further agreements with other companies within the current quarter. The agreement marks a step in the company’s efforts to strengthen its position in the quantum computing infrastructure supply chain.