Semiconductor Manufacturer Ranovus Plans $ 100 Million Expantion of Ottawa Facility

Ottawa-based Ranovus is Spending $ 100 Million to Expand Its Optical Semiconductor Manufacturing Facility in the Nation’s Capital.

According to the ontario government, the investment will create 125 new jobs as the company commits to “Reshoring their outsourced manufacturing capacity back to ontario.” The province is supporting the investment with a $ 2 million grant through the investment ontario fund.

Founded in 2012 by Ceo and Nortel Veteran Hamid Arabzadeh, Ranovus Develops Optical Interconnects, A Type of Semiconductor used to improve data transfer speed and power consumption. It Counts Semiconductor Giants Like Advanced Micro Devices (AMD) and MediaTek Amg Its Customers.

Arabzadeh Told Betakit in an email statement that $ 100 million investment is part of an ongoing scaling of the 140-Person company. He added that the investment is shooting all of Ranovus’ Supply Chain, Except for Foundry Wafer Production, Back to Canada, Where its product is made.

“By Rashoring Production and Scaling AI-Enabling Technologies Right Here in Ottawa, Ranovus is Helping to Secure Ontario’s Place at the ForefRont of Global Innovation,” ONTARIOO MINISTER ONTARIFRANT OF Business Service Delivery and Procurement Stephen Crawford Said in a Statement.

Ranovus Previous Secure Feding in 2023 For Another for another $ 100 Million Project to Develop Better-Farforming and Power-Efficient Technologies for Interconnect Computer Chips for Use Whit Artificial Intelligence (AI).

Related: Blumind Secus $ 20-Million Series A To Build The Ai Chip We’D Have If Computers Didn’T Exist

Earlier this year, Ranovus and silicon valley chip company Cerebras Systems SECRED A $ 45-Million UsD Contract With the United States Military’s Defense Research Projects Agency (DARPAPA). The contract focused on connecting cerebras ‘chips with Ranovus’ Networking Technology.

Council of Canadian Innovators (CCI) ontario Affairs Director Skaidra Puodžiūnas said in a statement that it was “encouraging” to see ontario’s support of the efficiency. Earlier this year, 75 ontario ceos signed an open letter put forward by the cci calling on Premier Doug Ford to Prioritize Homegrown Innovation. The letter argued that provincial economy policy has focused on short-term Foreign Direct Investment Over Long-Term Domestic Wealth Creation.

When the province went ahead with subsidizing a new research and development center from German multinational Technology conglomerate siemens in April, Puodžiūnas said that “EVRE DOLAR FUNNELELELED Foreign entities are a missed options ”to advance ontario’s prosperity.

Now, she said that supporting ranovus “is a step in the right direction.”

Feature Image Courtesy Ranovus Via Linkedin,