Efficient compression of quantum information

We propose a scheme for an exact efficient transformation of a tensor product state of many identically prepared qubits into a state of a logarithmically small number of qubits. Using a quadratic number of elementary quantum gates we transform N identically prepared qubits into a state, which is nontrivial only on the first log(N+1) qubits. This procedure might be useful for quantum memories, as only a small portion of the original qubits has to be stored. Another possible application is in communicating a direction encoded in a set of quantum states, as the compressed state provides a high-effective method for such an encoding.