EUR 80 million investment in new Nordic quantum initiative
EIFO, the export and investment fund of Denmark, and the Novo Nordisk Foundation are investing in the establishment of QuNorth, with the purpose to advance the region’s technological development.
Microsoft and Atom Computing will bring to QuNorth the world’s most powerful quantum computer and the first operational deployment of a machine powered by logical qubits, states the investors.
“Today, the Nordic countries have limited access to the latest quantum computers on the market. This means our researchers and companies risk falling behind compared to other parts of the world. With the investment in QuNorth and Magne, we aim to provide a strong platform that prioritizes access for Nordic users,” says Mads Krogsgaard Thomsen, CEO of the Novo Nordisk Foundation.
Quantum computing – Solving the most complex life science issues
The power of quantum computing holds great promise for the life science industry, not least speeding up and reducing costs within drug discovery. McKinsey & Company describes quantum computing like this in one of their Insight articles (What is quantum computing? 2023): “Classic computing is built on bits while quantum computing is built on quantum […]
The world’s most powerful commercial quantum computer to date
QuNorth’s primary mission is to acquire and operate the world’s most powerful commercial quantum computer to date.
The computer will be named Magne, inspired by Norse mythology, where Magne, the son of Thor, is known for his immense strength. Magne is currently set to become the world’s most powerful commercially available quantum computer as one of the very first Level 2 quantum systems globally which is characterized by performing calculations using so-called logical qubits. With Magne, Denmark and the Nordic region will gain unprecedented research and commercial potential, contributing to a global leadership position, the investors state.
“The world has changed, and the competition for critical technologies is fierce. China and the USA are investing massively while Europe is falling behind. Quantum technology comes with enormous potential, and Denmark and the EU must seize this opportunity. With the investment in the world’s strongest quantum computer, we are making a solid shift in the global quantum race. This will benefit all of Europe. We need to harness the untapped possibilities of quantum technology for Danish and European businesses, society, and security. Denmark and the EU must lead the race in developing new technologies,” says Morten Bødskov, Danish Minister of Industry, Business and Financial Affairs.
Attract talent and new quantum investments
QuNorth will work proactively to support researchers and industry in leveraging Magne – among other things by developing new applications across areas such as material science and chemistry related product development, and by helping to attract talent and new quantum investments to the Nordic region. QuNorth will collaborate closely with other stakeholders involved in the development and commercialization of quantum research in the Nordic region, which is expected to also provide a European competitive advantage.
Breaking new ground: Quantum computing
According to Professor Matthias Christandl, Leader of the Quantum for Life Centre in Copenhagen, the potential of quantum computing within life sciences is enormous and in order to take the lead, investments in both quantum hardware and software is essential.
Delivered by a partnership between Microsoft and Atom Computing
Magne will be delivered by a partnership between Microsoft and Atom Computing. Microsoft has invested significantly in building and expanding its global quantum innovation center just north of Copenhagen and will equip Magne with their specialized quantum software and applications powered by the recently unveiled Microsoft Discovery. Atom Computing decided last year to establish its European headquarters in Copenhagen as EIFO and a local pension fund invested in the company. Atom Computing has developed a “neutral atom” technology, currently considered the best performing quantum technology.
Ready for its first tasks by the new year 2026/27
Construction of Magne will begin in autumn 2025, and the computer is expected to be ready for its first tasks by the new year 2026/27. The selection of Microsoft and Atom Computing in making Magne possible is the result of a thorough evaluation of various quantum platform’s current technological strengths and benefits, as well as the solution’s overall contribution to the Nordic quantum ecosystem, including access for researchers to the physical hardware, the investors state.
100% Danish-owned
Magne will be 100% Danish-owned, with EIFO and the Novo Nordisk Foundation each investing approximately EUR 40 million in the establishment of QuNorth. Search for a CEO for the new company will now begin, and QuNorth plans to build a small organization of around 10 employees, whose primary task will be to ensure optimal utilization of Magne across commercial and academic users in the Nordic region. In addition, QuNorth will establish four PhD/postdoc roles in collaboration with Microsoft.
QuNorth will present its commercial and academic program at a Nordic quantum event to be held in autumn 2025. Both Magne and QuNorth will be based in Copenhagen.
Updated: November 6, 2025, 10:20 am
Published: July 16, 2025
