Insider Brief
- Photonic’s proposed Project VANGUARD would establish a Canadian multi-tenant semiconductor manufacturing facility at an estimated cost of up to CAD$500 million — or about US$359 million.
- The facility would serve commercial and government customers in quantum computing, artificial intelligence, aerospace, defense, advanced sensing and semiconductor packaging.
- The project was selected for the Canada Investment Summit Prospectus and is intended to expand domestic manufacturing capacity, strengthen supply chains and create skilled jobs.
PRESS RELEASE — Photonic Inc. today announced Project VANGUARD, a proposal to establish a Canadian multi-tenant semiconductor manufacturing facility, anchored by Photonic.
Project VANGUARD has been selected for inclusion in the Canada Investment Summit Prospectus, a curated portfolio of nationally significant investment opportunities presented to global institutional investors, strategic partners, and allied governments.
With an estimated cost of up to $500 million CAD — about US$359 million, Project VANGUARD is envisioned as shared national semiconducting manufacturing infrastructure. The proposed facility would serve commercial and government organizations working across quantum computing, artificial intelligence, aerospace, defence, advanced sensing, and semiconductor packaging.
Canada is home to world-leading research and innovation in many of these fields, yet companies often face significant challenges moving from prototype development to manufacturing at scale. Limited domestic manufacturing capacity often forces companies to scale manufacturing abroad, increasing costs, lengthening development timelines, and reducing control over strategically important intellectual property and supply chains.
“Project VANGUARD is an opportunity to build critical semiconductor manufacturing infrastructure that helps Canadian companies scale at home, strengthens our economic and technological sovereignty, and positions Canada as a trusted partner in the advanced technology supply chains that will define the future,” said Don Mattrick, CEO of Photonic Inc.
Canada has important semiconductor and photonics manufacturing assets today, but demand for advanced semiconductor manufacturing capacity is growing rapidly. By providing flexible manufacturing capacity for multiple industries and customers, the facility would help strengthen Canada’s role in resilient North American and allied technology supply chains while accelerating the commercialization of Canadian innovation.
In addition to expanding domestic manufacturing capacity, Project VANGUARD is expected to create highly skilled jobs in engineering, advanced manufacturing, and technical operations, support workforce training, attract additional investment and help establish a stronger innovation ecosystem around quantum semiconductor design, fabrication, packaging, and commercialization in Canada.
The Canada Investment Summit will be hosted by Prime Minister Mark Carney in partnership with Canada Pension Plan Investment Board and Public Sector Pension Investment Board in Toronto on September 14 and 15, 2026. The Summit brings together institutional investors, industry leaders, and government representatives to advance major investment opportunities across Canada. Inclusion in the Prospectus is by selection only.
