Ray in Sonic 1 is a ROM hack, not an officially released game. It's a modified version of the original Sonic the Hedgehog for the Sega Genesis. The 'Ray' element likely refers to the addition of a new character or significant changes to the original game's gameplay, possibly introducing new levels or altering existing ones. Fan-made ROM hacks are typically not created by official companies but by individuals or small teams. 

Ray in Sonic 1

Ransei no Hasha (Japan)