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IQM Advances SPAC Deal To Expand Europe’s Quantum Sector

Finland’s pioneering quantum computing startup, IQM, has announced a landmark move to become one of Europe’s first publicly listed quantum companies. The firm is positioning itself for a merger with special purpose acquisition company Real Asset Acquisition Corp in a New York listing that values IQM at an initial $1.8 billion. Pending shareholder consent and regulatory clearance, the transaction is expected to conclude by June, with a potential dual listing on the Helsinki stock exchange further reinforcing its European ties.

Strategic Merger And Funding Milestone

Founded in 2018, IQM has raised $320 million, including a Series B round led by Ten Eleven Ventures and Finnish investor Tesi. The proposed merger is expected to generate more than $300 million through a combination of private investment in public equity and funds held in the SPAC trust account.

The company plans to use the capital to accelerate development of full-stack, open-architecture quantum systems designed for both on-premise installations and cloud access.

Commercial Deployment And Industry Breakthroughs

Quantum computing is being developed to process complex calculations faster than traditional systems, with potential applications in medicine, scientific research, and finance. While large-scale commercial adoption remains limited, analysts note steady technical progress across the sector. Recent commentary from UBS indicates that the industry is gradually moving from research-driven experimentation toward practical use cases.

Industry Momentum Across Europe And Beyond

IQM’s progress reflects broader momentum in the European quantum ecosystem. The company has sold 21 systems to 13 customers and reported at least $35 million in unaudited revenue in 2025. Other European firms, including UK-based Quantinuum and Spain’s Multiverse Computing, have also attracted significant investment.

Globally, competition continues to intensify. China has committed close to $18 billion to quantum research, while the European Union is expanding funding initiatives aimed at strengthening regional capabilities in advanced computing.

Europe’s Deadly Summer Heat Exposed The Cost Of A Warming Continent

Europe experienced its deadliest summer for heat-related deaths on record in 2026, with an estimated 24,400 excess deaths linked to extreme temperatures across 30 countries. Researchers estimate that human-induced climate change was responsible for around 32,000 of the deaths attributed to heat in the study’s broader analysis, accounting for 65% of the total.

The findings highlight the growing public-health consequences of global warming, largely driven by fossil fuel use, as extreme heat becomes more frequent and severe.

A Summer Of Dangerous Heat

Between June and August, heatwaves pushed temperatures in Western Europe to an average of 2.9°C above the 1991–2020 norm, with some days reaching 12°C above average. Nearly a third of estimated heat-related deaths occurred during a particularly intense heatwave between 17 June and 1 July.

“These numbers are a stark reminder that our hotter, more extreme summers are having an increasingly severe impact on public health,” said Dr Clair Barnes, a researcher at Imperial College London and co-author of the study.

The estimated toll exceeded previous peaks of around 29,000 deaths in summer 2022 and 28,000 in 2003 across the region studied.

How Researchers Estimated The Toll

Researchers modelled the relationship between temperature and mortality across 854 urban areas in the EU, UK, Norway and Switzerland, covering around 40% of the population in the 30 countries studied.

The analysis incorporated temperature records, age, socioeconomic conditions, environmental factors and access to healthcare. By comparing actual temperatures with those expected without human-induced warming, the team estimated the additional deaths attributable to climate change.

Final official mortality figures for summer 2026 are not yet available in many countries, and heat-related deaths are often underreported because their effects can be difficult to identify directly.

Older People Face The Greatest Risk

People aged 85 and over accounted for roughly half of the estimated deaths. However, the impact extended across age groups, with around 800 excess deaths among adults aged 20–44 and approximately 6,000 among people under 65.

Southern Europe experienced the highest mortality burden, reflecting hotter temperatures and other vulnerabilities, including air pollution, limited green space and unequal access to healthcare and heat-alert systems.

Italy, France And Spain Record Highest Toll

Italy recorded an estimated 13,303 heat-related excess deaths, followed by France with 7,268 and Spain with 6,824. Germany recorded around 6,340, while the UK saw an estimated 4,354 deaths.

In the UK, the heat also placed significant pressure on healthcare services. Andrew Hartle, Professor of Practice of Anaesthesia at Imperial College Healthcare, said demand during the summer resembled that of a severe winter virus season.

Cities Urged To Strengthen Heat Protection

Researchers say cities can reduce the risks through climate shelters, external shading and building retrofits, alongside measures to help residents avoid exposure during the hottest hours. Checking on vulnerable people, staying hydrated and following heat alerts are also important.

The researchers stress that adaptation must go hand in hand with reducing fossil fuel use to limit further warming. The findings underline that extreme heat is already a major public-health threat across Europe, with thousands of lives at risk each summer.

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