Ranovus invests over $100M to expand semiconductor manufacturing in Ont.
Ranovus Inc. is investing more than $100 million to expand its optical semiconductor manufacturing operations in Ottawa. In a press release on Aug. 20, the Ontario government reported the expansion is expected to create 125 new jobs in the technology sector and “further position the province as a North American leader in advanced semiconductor design and manufacturing.”
“As global competition for next-generation technologies intensifies, Ontario’s world-class workforce, state-of-the-art research institutions and resilient business environment continue to anchor our province as a partner for success,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade.
Ranovus is a developer of advanced optical interconnect solutions, a type of semiconductor that can enable faster data transfers, reducing delays and power consumption in data centres. The company’s Ontario-designed-and-made technologies are relied on by global semiconductor technology companies such as AMD, MediaTek and Cerebras (DARPA). Ranovus’ hardware production plays a role in scaling AI infrastructure in the manufacturing, defence and automotive sectors.
The Ontario government says that in addition to increasing its domestic production of specialized chips, Ranovus has committed to reshoring its outsourced manufacturing capacity back to Ontario. In support of this investment, Ontario is providing up to $2 million in funding through the Invest Ontario Fund.
“At Ranovus, we’re proud to be designing and manufacturing advanced artificial intelligence solutions right here in Ontario, which relies on a world-class workforce,” said Hamid Arabzadeh, Co-Founder and CEO of Ranovus Inc.
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