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ExxonMobil, Certain Research Labs Join IBM Q Network For Quantum Computing

Oil and gas giant ExxonMobil (XOM) announced Tuesday that it has signed a partnership agreement with IBM (IBM) to advance the potential use of quantum computing in developing next-generation energy and manufacturing technologies.

The new partnership was formally announced during the 2019 Consumer Electronics Show or CES in Las Vegas.

As part of the agreement, ExxonMobil becomes the first energy company to join the IBM Q Network.

The Network is a worldwide community of Fortune 500 companies, startups, academic institutions and national research labs working to advance quantum computing and explore practical applications for science and business.

IBM reported that along with ExxonMobil, some of the world's pre-eminent research laboratories also joined the IBM Q Network. They include CERN, Argonne, Fermilab, and Lawrence Berkeley.

These organizations will work directly with IBM scientists, engineers and consultants to explore quantum computing for specific industries, the company noted. They will have cloud-based access to IBM Q systems, as they work to discover real-world problems that may be solved faster or more efficiently with a quantum computer versus a classical computer.

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