Xanadu and TELUS Collaborate to Advance Quantum Data Centre Infrastructure in Canada

Executive Summary

• Xanadu Quantum Technologies and TELUS signed an MOU to explore a sovereign quantum‑classical hybrid computing infrastructure and a dedicated quantum data centre on Canada‑controlled networks.
• Xanadu disclosed its pending business combination with Crane Harbor Acquisition Corp., which will create a new publicly traded entity (NewCo) capitalized at approximately US $500 million (≈ US $225 M from the SPAC trust and US $275 M from private‑placement investors).
• The combined company is expected to list on both Nasdaq and the Toronto Stock Exchange, positioning Xanadu as a leading quantum‑computing platform with secured Canadian sovereign infrastructure.

Key Details

• Collaboration MOU (Xanadu & TELUS)
• Objective: develop a hybrid quantum–classical computing environment and a quantum data centre integrated with TELUS’ PureFibre network and sovereign AI infrastructure.
• Expected outcomes: secure, Canada‑controlled access to quantum processors for enterprises, researchers, and government agencies; enable breakthroughs in AI, drug discovery, materials science, cybersecurity, and national security.

• Scope includes joint work across hardware, software, algorithms, applications, services, education initiatives, research pilots, knowledge exchange, and ecosystem development.

• Business Combination with Crane Harbor Acquisition Corp.

• Transaction type: SPAC merger forming “Xanadu Quantum Technologies Limited” (NewCo).
• Capital structure: ~US $500 million total gross proceeds.
  • US $225 million from Crane Harbor’s trust account (as of Sep‑30‑2025), assuming no shareholder redemptions.
  • US $275 million from a group of strategic and institutional investors via a common equity private placement.
• Post‑combination listing: Nasdaq Stock Market and Toronto Stock Exchange.

• Registration: Form F‑4 declared effective by the SEC on 2026‑02‑27; definitive proxy statement/prospectus mailed to shareholders (record date 2026‑02‑04).

• Related Prior Announcement

• Reference to Xanadu’s “Project OPTIMISM” where Canadian federal and Ontario governments are negotiating up to CAD $390 million in support for advanced semiconductor and photonic manufacturing capabilities.

Notable Quotes

• “Canada has a unique opportunity to lead the world in quantum computing.” – Christian Weedbrook, Founder & CEO, Xanadu
• “At TELUS, we strongly believe that Canada's technological future must be built on infrastructure we own and control…” – Nazim Benhadid, Chief Technology Officer, TELUS

All forward‑looking statements are subject to risks and uncertainties detailed in the release.