Phystech Technologies Achieves Progress in Cyprus with HPC and Quantum Technology

Phystech Technologies, a leading research and development (R&D) company, is making significant progress in Cyprus in the fields of high-performance computing (HPC), chips, and quantum technology. The collaboration with Chief Scientist Dimitris Skouridis strengthens Cyprus's position on the global technology map.

In the meeting between Mr. Skouridis and Phystech's founder and CEO, Yuri Komarov, and Operations Director, Maria Ocheretina, the prospects of Cyprus in these areas were discussed. The company has developed a digital technology for generating cryptographically secure random numbers, with applications in supercomputers, cybersecurity, banking, telecommunications, and IoT.

Phystech plans new hires of engineers in Cyprus and is preparing to launch a quantum systems project, while patent applications have been filed. The company targets technology giants and chip manufacturers, as well as leaders in telecommunications.

Mr. Skouridis described the development as "exciting for the research and innovation ecosystem of Cyprus," emphasizing that the development of an emerging chip industry could generate revenues of over $1 billion by 2035 and create new jobs.