HIGHLIGHTS

• Archer will collaborate with The Australian Missile Corporation (“AMC”) to support Australia’s Sovereign Guided Weapons Enterprise.
• AMC was founded by NIOA, a 100% Australian-owned Defence Prime Contractor and the largest Australian-owned supplier of weapons and munitions to Defence.
• Archer will work with AMC to identify opportunities to contribute to the Commonwealth Government’s new Sovereign Guided Weapons Enterprise to support missile and guided weapons manufacturing in Australia.
• The collaboration with AMC will be focussed on Archer’s 12CQ quantum computing chip technology.
• Archer is a semiconductor company with technology that will be critical to the Commonwealth Government’s Sovereign Guided Weapons Enterprise.
  The AMC was formed to facilitate collaboration with Defence in response to the Government’s call to strengthen sovereign defence industrial capability.

Archer Materials Limited (“Archer”, the “Company”, “ASX: AXE”) is pleased to announce that it has signed a non-binding letter of intent (“LOI”) with the Australian Missile Corporation Pty Ltd. By signing the LOI the Company has confirmed its interest in cooperating with NIOA’s Australian Missile Corporation to help fulfil the Australian Government’s long-term vision of developing sovereign Australian defence industrial capabilities.

Archer is developing quantum computing processor chip technology, and currently possesses advanced semiconductor manufacturing capabilities, that will be of benefit to a future sovereign guided weapons enterprise.

THE SOVEREIGN GUIDED MISSILE ENTERPRISE

Announced by Prime Minister Scott Morrison on March 31 2021†, The Sovereign Guided Missile Enterprise is part of a $270 billion Government spend over the next decade to strengthen Australia’s defence forces, including high-tech submarines, new fighter jets, hypersonic weapons, and advanced munitions.

According to Defence, the new Sovereign Guided Missile Enterprise could be worth up to $40 billion over the next two decades, creating 2,000 jobs at various locations across the country. NIOA established the Australian Missile Corporation as a team of like-minded Defence organisations willing and able to support the new enterprise.

Commenting on the collaboration with AMC, Archer CEO Dr Mohammad Choucair said:

“Archer supports the Government’s vision for the development of a sovereign guided weapons enterprise in Australia and we look forward to contributing to NIOA’s collaborative initiative.

“Archer brings to this national endeavour key capabilities in quantum computing and advanced semiconductor materials manufacture which will be critical to creating, supporting, and developing Australian defence capabilities.”

ABOUT NIOA

NIOA was founded in regional Queensland in 1973 and is the largest Australian owned weapons and munitions Prime Contractor. Committed to the development of Australian sovereign capability, NIOA is investing $130 million in domestic munitions and explosives manufacturing over the next five years, including a $60 million artillery shell forging plant in Maryborough Queensland with joint-venture partner Rheinmetall Waffe Munitions, an upgrade of the Commonwealth’s Government-owned Benalla munitions plant in Victoria and an $11 million expansion of its Brisbane warehouse and distribution facility.

ABOUT AMC

The Australian Missile Corporation was founded by NIOA, formed to facilitate collaboration between industry partners, academia, State Governments and Defence in response to the Australian Government’s call to establish a sovereign guided weapons enterprise.

ABOUT ARCHER AND THE 12CQ QUANTUM COMPUTING CHIP

Archer is a technology company that builds advanced semiconductor devices, including processor chips that are relevant to quantum computing. 12CQ is a world-first qubit processor technology that Archer is building to enable quantum computing powered devices for mobile and data-centric applications.