Canada Invests in Ranovus to Boost Semiconductor Industry

Innovation, Science and Economic Development Canada

Ottawa, Ontario

Semiconductors, often called chips or microchips, are critical to Canada’s national security, economy and technological interests and, more importantly, to Canadians’ daily lives, as they are essential to the functioning of phones, computers, cars and appliances. That is why the Government of Canada is committed to collaborating with Canadian industry and investing in semiconductor innovation and manufacturing.

Today, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, announced a $36 million contribution through the Strategic Innovation Fund (SIF) to Ottawa-based Ranovus Inc. to support a $100 million project that will advance the domestic production and manufacturing of semiconductor products and services, while positioning Canada as a key player in this strategic industry.

This project aims to develop the highest performing and most power-efficient technologies for interconnect computer chips for next-generation artificial intelligence work. This will further leverage Canadian semiconductor and compound semiconductor manufacturing capacity and silicon photonics expertise, allowing Ranovus to remain a leader in its field while contributing to significant reductions in greenhouse gas emissions from data centres.

With this contribution, Ranovus will also increase its highly skilled workforce in Canada to 200 full-time employees and provide opportunities to 150 Canadian co-op students. This contribution is part of the Government of Canada’s intellectual property (IP) rich initiative, ensuring that innovative, IP-rich firms are grown into world leaders. This will help accelerate Ranovus’s development of IP in Canada, as this project is expected to produce 40 new patents.

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