Multiverse Collaborates with Iberdrola to Research Quantum Optimization for Power Grids

Iberdrola is a large multinational electric utility company headquartered in Bilbao, Spain with revenues of over €53 billion ($58 billion USD) by 2022. It is also the largest producer of wind power and the second electric utility in the world by market capitalization. As a step in exploring how quantum technology can be leveraged in their business, they have chosen the problem of finding how to best optimize the number, characteristics, and location of batteries in their smart electricity grid. This is an important consideration for systems using wind and solar renewable energy, but it is also a very complex computational problem to solve. Iberdrola will work with Multiverse Computing within the framework of the Gipuzkoa Quantum Program supported by the Gipuzkoa Provincial Council in a 10-month program to see if a quantum computer can help provide a solution. A blog article provided by Multiverse announcing this project can be accessed on their website Here.

June 16, 2023