Delta Gold Technologies (Aquis:AQT) announced it has raised £1.79 million through direct subscriptions of new shares, with proceeds earmarked for its quantum sensing and communications research and potential new UK university partnerships.
The Aquis-listed company, which develops intellectual property based on gold nanoclusters and planar gold structures for quantum sensing and communication applications, issued 1.63 million new shares at 110p each, representing 2.46% of its enlarged share capital.
Delta funds sponsored research at Penn State University and the University of Toronto, where it holds exclusive global licences to resulting intellectual property, and has flagged GPS-free navigation using magnetic field detection as its nearest-term commercial pathway.
The subscription proceeds will also support general working capital, alongside the sensing and communications workstreams the company has been expanding at both university partners.
Expanding Penn & UofT partnerships
In a separate statement, the company announced it had expanded its sponsored research programmes at Penn State University and the University of Toronto to add a dedicated quantum sensing and quantum communications workstream, with both universities acquiring new sensing equipment to support the work.
The Aquis-listed quantum technology developer said the new programme is expected to generate intellectual property under its existing university sponsorship agreements, feeding both near-term sensing applications and its longer-term goal of a quantum computing device.
Delta has an exclusive global licence to IP arising at each university, retaining 98.5% of net sales under the Toronto agreement and 100% of the first $20 million of net sales under the Penn State agreement.
"The international collaboration of two top teams at these two outstanding universities is driving innovation as we had planned", said CEO R. Michael Jones, adding that the technology's position "at the very root of quantum systems" gives it potential across communications, sensing and computing.
Read more about Delta Gold Technologies
At Penn State, the company will spend $500,000 from its 2026 budget on a magnetic field instrument to test how gold nanoclusters respond to changing 3D magnetic fields, part of an existing $6 million, six-year programme. The work builds on research that recorded roughly 40% spin-polarised emission in Penn State's gold nanoclusters, a figure the university team previously described as the highest known in any condensed-phase quantum material system, and which underpins three PCT patent applications now being folded into Delta's portfolio.
Professor Kenneth Knappenberger of Penn State said the nanoclusters are "stable spin-polarized emitters" expected to form "a robust platform for quantum sensing", including magnetometer applications for navigation that does not rely on GPS.