- Terra Quantum grows its presence into Asian markets through meaningful collaboration with leading steel manufacturer POSCO Holdings to deploy quantum AI for optimizing steel production, specifically focusing on POSCO's advanced blast furnaces.
- Together, we will demonstrate the potential of Quantum Neural Networks to enhance efficiency, targeting tangible outcomes such as reduced emissions and energy consumption.
- This partnership signals an embrace of innovation to harmonize sustainability and economic growth in the steel industry. By pioneering quantum AI for greener steel production, we aim to empower POSCO’s competitiveness while contributing to the industry’s decarbonization.
Improving Sustainability in Steel, the Cornerstone of the Global Economy
Terra Quantum, the trailblazer in quantum technology solutions with Swiss roots and global presence, proudly announces a strategic collaboration with South Korea's titan in steel manufacturing, POSCO Holdings, marking the company's expansion into the APAC region. This collaboration aims to showcase the potential impact of Quantum AI in addressing the pressing sustainability challenges in the steel industry.
Steel forms the backbone of the global economy, primarily due to its exceptional strength, durability, and versatility. It is a cornerstone material in major industries, notably construction, energy, manufacturing, and transportation. Its ability to be alloyed and recycled makes it both adaptable for various applications and sustainable for long-term use.
POSCO has been conducting the digitization of its steelmaking process since 2016 and has been applying technologies such as big data, artificial intelligence, and the Internet of Things to its steelmaking operations. The steelmaking process of POSCO has been recognized as a "lighthouse factory" leading the global manufacturing industry by the World Economic Forum (WEF) and Davos Forum
Pursuing Next-Level Efficiency for Steel Production
This collaboration between Terra Quantum and POSCO Holdings will serve as a starting point for exploring the use of quantum computing, in steelmaking and, furthermore, in the entire manufacturing industry.
Steel manufacturing is a highly complex and energy intensive endeavor. Current production processes operate on Blast furnaces which are volatile and difficult to measure due to high temperatures/pressure conditions. We aim to increase the efficiency of these furnaces through time series prediction and end to end optimization. For the Proof of Concept (PoC), the solution will be deployed at a blast furnace in the Gwangyang Steelworks facility in South Korea, the largest steel mill in the world.
The Quantum Enhancement
Utilizing deep tech quantum technologies in optimizing blast furnace operations, the initiative targets key areas such as Reducing Agent Rate (RAR) optimization where emissions and costs can be significantly reduced. The project will aim to produce better results than already advanced AI solutions developed by POSCO through utilizing Hybrid Quantum Neural Networks: a combination of classical state of the art AI with quantum layers.
Quantum machine learning's ability to process complex datasets efficiently and superior accuracy will be instrumental in optimizing fuel usage and operational parameters, leading to less carbon output and greater overall efficiency in steel production.
Terra Quantum is leading the development of Quantum AI, empowered with its Quantum Machine Learning toolbox, TQml, soon also available in TQ42, the first low-code Quantum-as-a-Service platform making quantum AI accessible and performant for real world use cases which are highly complex and of strategic importance.
Opportunity and Implications
The implications of this partnership could be far reaching and instrumental in the challenge to decarbonize steel production. High emissions in steel manufacturing not only contribute to global warming but also pose regulatory and economic challenges for the industry. By reducing emissions and energy consumption, Terra Quantum and POSCO Holdings are not only addressing environmental concerns but are also aligning with global sustainability goals. Moreover, the adoption of quantum tech and the anticipated cost savings could create a strong competitive edge for steel producers.
"This collaboration marks an important milestone for Terra Quantum and the expansion of European deep tech into the Asian market, with POSCO Holdings as our first Korean customer. But more significantly, this work embodies the intrinsic values of our ethos, rooted in exploring the connection between nature and quantum tech, with a view to maximizing the return on our resources.” says Markus Pflitsch, CEO of Terra Quantum.
“It's a significant step towards making accessible, applicable and useful the power of deep technologies in heavy industrial settings such as steel plants" said Karan Pinto, Global Director of Growth for Terra Quantum. "We are committed to delivering superior performance and sustainable outcomes across industries globally, and our partnership with POSCO Holdings is a testament to this mission."
“POSCO Holdings is at the forefront of driving change in the steel industry. Through this collaboration, we are exploring the power of quantum computing to enhance the steel production, and to set new benchmarks for the industry, proving that economic growth and environmental responsibility can go hand in hand."- Senior Researcher from POSCO Holdings.
POSCO Holdings, based in South Korea, is a holding company of POSCO which is a global leader in steel manufacturing since 1968. Alongside steel, its business portfolio includes manufacturing, materials, battery production, hydrogen, energy, construction, infrastructure, and agri-food.