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Critical Quantum Computing, Tesla Carbon Credits, and MDMA

Uncovering the world’s most exciting early stage companies. Discover what’s next.

February 16, 2024

The White House Declares Quantum Computing A Critical Emerging Technology

The White House Office of Science and Technology Policy has released an updated list of critical and emerging technologies, which included quantum computing for the very first time. Quantum computing is widely seen as one of the most important technologies for the future, due to its ability to potentially revolutionize the prototyping and testing of everything from artificial intelligence to nuclear fusion processes.

Tesla Is Earning Billions From Carbon Credits

Tesla (NASDAQ:TSLA) has announced an all time high in revenue generated from carbon credits, brining in $1.79 billion in 2023. By manufacturing electric vehicles and deploying battery energy storage and solar panels that all reduce global emissions, Tesla is able to earn an abundance of high quality carbon credits which they are able to sell to other automakers who are currently unable to hit their emission targets.

FDA Grants Priority Review For MDMA

The United States Food and Drug Administration has granted MDMA assisted therapy a priority review for Lykos Therapeutics in treating individuals with PTSD. The priority review means the FDA has accepted the new drug application from Lykos Therapeutics and will provide an answer on an official approval within six months.

The Sprint

  • Australia officially added nickel to their list of critical minerals. The United States has also been putting a major focus on nickel, including notable grants from both the Department of Energy and the Department of Defense to Talon Metals (TSX:TLO).

  • Kaloma raised $246 million to pursue the production of white hydrogen at scale. White hydrogen comes from iron-rich source rocks, as opposed to carbon-rich source rocks which are responsible for oil and gas.

  • BioAge Labs raised $170 million to advance the development of a new type of weight loss drug that mimics the behaviour of a molecule that is typically stimulated through exercise.

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