Ranovus lands $20M in federal funding to build Ottawa manufacturing facility
Summary
A Kanata firm that develops technology that makes it cheaper and more energy-efficient for customers to store data in the cloud has landed $20 million in funding from the federal government. Ranovus says it’s aiming to pour more than $220 million into a long-term R&D program and plans to expand its partnerships with other private-sector companies as well as post-secondary and research institutions and non-profit organizations in its drive to reduce the amount of energy data centres consume. In an interview with OBJ last year, Arabzadeh said the data centre sector has the same carbon footprint as the airline industry but is growing at a much faster pace. You need very power-efficient connectivity,” Arabzadeh said, adding his company’s data-connection hardware uses only a quarter of the power of today’s prevailing technology and runs at 25 per cent of the cost. An engineering graduate of the University of Waterloo, Arabzadeh worked in various roles for Nortel’s optical group during that firm’s heyday before leaving in 2003 for CoreOptics, a California outfit that was bought out by Cisco in 2010 for nearly $100 million.