News Summary

Ottawa-based semiconductor manufacturer Ranovus has announced a $100 million investment to expand its optical semiconductor manufacturing facility. This expansion, supported by a $2 million grant from the Ontario government, is expected to create 125 new jobs and further Ontario’s position in global innovation. Founded by CEO Hamid Arabzadeh in 2012, Ranovus develops optical interconnects for data centers, with clients including AMD and MediaTek. The expansion is part of Ranovus’ strategy to reshore its supply chain back to Canada, excluding foundry wafer production. This move aligns with Ontario’s efforts to enhance homegrown innovation and reduce reliance on foreign investments. The decision follows previous federal funding and a $45 million USD contract with DARPA for AI-enhancing technologies. The investment is seen as a positive step by local innovation leaders, reinforcing the province’s commitment to supporting domestic technology growth.