OTTAWA — A $20-million investment by the federal government in Ranovus will allow the company to create a new facility in Ottawa and bring back to Canada the advanced manufacturing and testing of its products.
Ranovus is an Ottawa-based company that specializes in the development of energy connectivity solutions for data centres and communication networks. The funding will also support the company’s development of next-generation data centre infrastructure that will double data processing capacity while significantly reducing its environmental impact and cost, indicates a release issued by Innovation, Science and Economic Development Canada. The investment is expected to create 566 jobs and produce new energy-saving technology solutions.
The funding will allow Ranovus to invest $220 million in R&D, implement inclusive hiring practices as it grows its workforce and develop and retain intellectual property in Canada. By anchoring its advanced manufacturing in Canada, Ranovus will also expand its collaborations with private companies, post-secondary and research institutions and not-for-profit organizations for further innovation.
The government investment is being made through the $1.26-billion Strategic Innovation Fund.