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.
Quick Facts
- With over 420,000 tech workers employed across 25,000 firms, Ontario is the second largest tech cluster in North America and a key economic driver for the nation.
- Since 2018, Ontario has added 100,000 new tech jobs across the sector.
- With nearly 1,800 annual AI Masters enrollments and more than 1,100 AI Masters graduates, Ontario has transformed into a world leading AI hub of talent. Home to approximately 400 specialized AI and technology companies, Ontario is driving innovation and has created more than 8,500 high-paying jobs.
- Every year, more than 70,000 STEM students graduate from post-secondary programs across the province, producing one of the most highly skilled workforces in the world.
- Since its inception, Invest Ontario has announced over $7.5 billion in investments, leading to the creation of more than 9,600 good-paying jobs.
Quotes
“Ontario innovators are leading the way in advancing critical sectors that drive and protect our economy. Our government is proud to support Ranovus’ expanded capacity, bringing more jobs, investment, and groundbreaking discoveries to the province’s technology sector and further cementing Ontario as a global innovation leader.”
– Nolan Quinn
Minister of Colleges, Universities, Research Excellence and Security
“Ranovus’ expansion is a powerful vote of confidence in Ontario’s leadership in advanced semiconductor design and manufacturing. By reshoring production and scaling AI-enabling technologies right here in Ottawa, Ranovus is helping to secure Ontario’s place at the forefront of global innovation. This investment reflects the strength of our economy, the resilience of our workforce, and our government’s commitment to building a future-ready tech sector.”
– Stephen Crawford
Minister of Public and Business Service Delivery and Procurement
“We couldn’t be prouder to support a homegrown innovator like Ranovus. What they do not only plays a key role in shaping the future of AI infrastructure, but also reinforces Ontario’s leadership in critical technologies on the global stage. Ranovus’ continued success reflects the strength of our province as a destination to innovate, scale up and drive global impact.”
– Khawar Nasim
CEO of Invest Ontario
“Ranovus is a global leader in advanced solutions that will support the next generation of AI workloads. As the only PC MPP in Ottawa, I am excited that this investment and commitment to growth will solidify our city and province as the ‘Silicon Valley of the North.’ As Carleton MPP, it is also exciting because many Ranovus employees, both present and future, live in this riding.”
– George Darouze
MPP for Carleton
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