Ontario Welcomes Over $100 Million Investment in the Critical Technologies Sector

August 20, 2025

Ranovus’ expansion will create 125 new jobs in Ottawa, bolstering the province’s leadership in semiconductor manufacturing

OTTAWA — The Ontario government is welcoming an investment of over $100 million from Ranovus Inc., a homegrown Canadian technology company, to expand its optical semiconductor manufacturing facility in Ottawa. The investment will create 125 new, good-paying 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. “Our government is proud to support Ranovus in their continued expansion, which will create over a hundred new, high-value jobs across our tech corridor and prepare our province for the future of work.”

At a time when U.S. tariffs are taking direct aim at Canada’s leading industries, Ranovus’ investment is a reflection of the competitiveness and resilience of the province’s economy and workers. In addition to increasing their domestic production of specialized chips used in artificial intelligence (AI) and machine learning, the company has committed to reshoring their 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. “We are grateful for the Government of Ontario’s support as we expand our operations, create good jobs and contribute to securing Canada’s leadership in the AI and quantum era.”

Founded in Ottawa in 2012, Ranovus is a leading developer of advanced optical interconnect solutions, a type of semiconductor that enables 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’ leadership in hardware production plays an important role in scaling AI infrastructure in the manufacturing, defence, and automotive sectors.

By leveraging the strength of the semiconductor sector and ensuring strategic supply chains are developed in Ontario, with Ontario workers, the government continues to secure the province’s place as the most competitive jurisdiction to invest and grow within the G7.

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