Ottawa-based semiconductor company Ranovus plans to invest $100 million to expand its local operations and create new jobs.
Co-founded in 2012 by Waterloo Engineering alum Hamid Arabzadeh (BASc ’88, electrical engineering), the company develops chips that help AI run faster and more efficiently in data centres worldwide.
The company’s investment is supported by a $2 million grant from the Ontario government and will reshore significant portions of Ranovus’ supply chain back to Canada.
Ranovus’ proprietary co-design approach, which integrates systems, lasers, silicon photonics, mixed-signal ICs, and advanced packaging, positions the company as a global leader in power-efficient AI infrastructure. This technology is helping replace traditional copper interconnects, reducing both cost and energy consumption at scale — critical advancements as AI compute clusters grow worldwide.
The announcement drew provincial leaders including Victor Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, who called Ranovus’ expansion a vital step in securing Ontario’s role at the forefront of global innovation.
“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,” Ontario Minister of Public and Business Service Delivery and Procurement Stephen Crawford said in a media statement.