CHAC News & Events

Xanadu Quantum Technologies and Crane Harbor Acquisition announced that the U.S. Securities and Exchange Commission has declared effective the companies' joint registration statement on Form F-4 in connection with their previously announced proposed business combination. This marks a significant milestone in the transaction process and moves Xanadu substantially closer to becoming a publicly traded company. The business combination is expected to close in the first quarter of 2026, subject to the satisfaction of customary closing conditions, including the approval by Crane Harbor and Xanadu shareholders and the listing of the shares of the combined company on the Toronto Stock Exchange and the Nasdaq Stock Market, which is subject to stock exchange approval. Upon closing, the transaction is expected to result in approximately $500M in gross proceeds, assuming no redemptions.

Xanadu Quantum Technologies integrated PennyLane and its Catalyst compiler with the Munich Quantum Toolkit. MQT is developed by teams at the Chair for Design Automation of the Technical University of Munich and the Munich Quantum Software Company and enables an interoperable and scalable quantum software stack, based on mature classical compilation technology. This collaboration creates more accessible quantum software by connecting a user-friendly Python interface through Xanadu's PennyLane to high-performance code that is the foundation of Catalyst and MQT. As quantum hardware scales, quantum programs are becoming exponentially more complex, and compiling these larger programs efficiently is expected to become a major challenge in the quantum computing stack. Together, PennyLane, Catalyst, and MQT's Core project bring complementary capabilities. PennyLane offers an intuitive interface for writing hybrid quantum-classical programs, while Catalyst and MQT handle the heavy-lifting for compilation by using specialized, high-performance tools that have been built over decades in classical computing. Users can now access advanced compilation techniques from both tools by adding a single line of code to their PennyLane programs. This integration works seamlessly in the background and lowers barriers for designing quantum algorithms using software - allowing researchers and developers to focus on innovation rather than managing complex software configurations.

Xanadu announced the publication of a quantum algorithm that significantly reduces the resource requirements to simulate photochemical reactions on a fault-tolerant quantum computer. Published as a pre-print research paper, "Efficient Simulation of Pre-Born-Oppenheimer Dynamics on a Quantum Computer," this work provides a scalable path for investigating phenomena that are important for many applications, such as photolithography, sustainable energy, and atmospheric chemistry. Xanadu recently announced a business combination agreement with Crane Harbor Acquisition, a publicly traded special purpose acquisition company.