VuReal to increase microLED manufacturing with Invest Ontario support
By Plant staff
Business Operations Innovation & Technology Government Manufacturing Invest Ontario manufacturing microLED VuReal
Invest Ontario will provide investment support to VueReal, a micro LEDtechnologies company based in Ontario, to enhance their technology manufacturing capabilities in the province.
Invest Ontario is contributing a $2 million grant – through the InvestOntario Fund – subject to executing a definitive agreement, to boost VueReal’s innovation and production in Canada’s largest tech hub. The federal government is also providing $8.5 million through its SDTC fund.
With funding assistance from Invest Ontario and Sustainable Development Technology Canada (SDTC), VueReal plans to create 75 new jobs over three years in the Kitchener-Waterloo area.
The project will boost commercial capacity for VueReal’s microLED displays. VueReal’s printing technology allows for customized display manufacturing for niche and mainstream markets. Their displays are used in various electronic products, including computers, phones, television, and smartwatches, as well as monitors in the aerospace, automotive, and medical technology industries.
“VueReal’s investment is a vote of confidence in Ontario’s world-class workforce and advanced manufacturing sector,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “We’re building Ontario by working closely with companies like VueReal to create more opportunities for workers today and for generations to come. Thank you VueReal for choosing Ontario.”
Market forecasts for microLED displays are estimated to reach US$11.5 billion by 2026, according to Research and Markets.
“Now is the time for ambitious climate action, and to support cleantech entrepreneurs like VueReal, who are turning vision into reality with help from today’s investments,” said François-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry. “Our government is proud to stand shoulder to shoulder with these groundbreaking companies as they drive innovation and make their mark as international leaders in clean technology. We will continue to supportour companies as they grow the economy and create well-paying jobs in this industry.”
