Governor Pritzker Announces Cache Energy to Expand Manufacturing Facility in Illinois

REV Illinois incentives support the company's expansion in Central Illinois

CHAMPAIGN - Governor JB Pritzker, the Illinois Department of Commerce and Economic Opportunity (DCEO), and Cache Energy today announced the company will expand their operations at a 10,000-square-foot manufacturing facility in Champaign, creating 20 new jobs and retaining their current workforce. The $2.5 million investment from Cache Energy is supported by a Reimagining Energy and Vehicles in Illinois (REV Illinois) agreement with DCEO.

"Illinois is proudly leading the way in the clean energy revolution with new jobs, economic growth, and groundbreaking progress in the clean energy manufacturing sector," said Governor JB Pritzker. "I'm pleased to see Cache Energy expand its operations right here in Illinois, and I applaud the company's innovative approach to renewable energy storage as Illinois takes bold steps toward a more sustainable future."

Cache is a start-up that develops and manufactures long duration, clean energy storage technology leveraging limestone as the feed material. Cache's technology is built on thermochemical energy storage, utilizing the company's proprietary process to convert lime powder into pellets. When these pellets are exposed to water in a reactor, the heat energy produced by the exothermic reaction can be harnessed directly or used to generate steam for electricity production. Cache's process can store energy from any renewable source for months under ambient conditions at a fraction of the cost compared to a lithium-ion battery.

"We have a bold vision for the future - one where low-cost, reliable energy is accessible to every American," stated Arpit Dwivedi, Founder of Cache Energy. "I'm proud to stand with my team and the State of Illinois as we launch this great partnership. Together, through Cache, we're creating high-quality jobs and advancing cutting-edge energy projects right here in Illinois. This further strengthens our commitment to a fully domestic energy supply chain, reinforcing both Illinois and America's leadership in energy security and resilience."

This expansion will include the setup of a one-ton-per-hour manufacturing line for energy storage materials, which will involve the procurement of specialized manufacturing equipment from Illinois-based vendors and the installation of the production line. In addition, Cache will build, test, and operate a first-of-its-kind, one-megawatt energy storage system, which will store electricity generated from renewable sources and release it during peak demand periods. The investment will enhance Cache streamline production to help meet Illinois' clean energy goals.

"Through the REV Illinois program, we are enhancing the state's position as a national leader in clean energy innovation and manufacturing with a strong focus on fostering deeper partnerships with higher education institutions," said DCEO Director Kristin Richards. "By investing in collaboration with academic institutions, we are creating high-quality jobs, advancing sustainable technologies, and driving long-term economic growth to build a greener, more resilient future for Illinois."

Guided by Illinois' Economic Growth Plan, the REV Illinois program supports a key growth industry for the state - clean energy production and manufacturing. REV Illinois offers competitive incentives for companies all along the supply chain in the electric vehicle and renewables sector to expand in or relocate to Illinois. A link to the full REV agreement can be found here.

"We're proud that Cache Energy continues to grow in Champaign and has chosen a location in Apollo Industrial Park as their new manufacturing facility," said Carly McCrory-McKay, Executive Director of the Champaign County Economic Development Corporation. "By choosing to build its long-duration energy storage solutions here-and creating new jobs-the company is not only accelerating the innovation of the energy storage industry but also strengthening our local economy and workforce capabilities."

Governor Pritzker has committed to growing the clean energy production and advanced manufacturing industries, which continue to thrive because of strong state leadership and a commitment to fostering innovation, sustainability, and long-term economic competitiveness. This announcement adds to a growing list of clean energy manufacturers that have recently chosen to expand or establish their business in Illinois, including Nano Nuclear, Richardson Electronics, Pure Lithium, and more.

"Cache's growth shows how local and state entrepreneurship ecosystems can unite to support founders from idea to execution," stated Gerald Wilson, Director of Entrepreneurship at EnterpriseWorks and the University of Illinois Research Park. "From a slide deck to a thriving company, Cache leveraged resources to grow, including the Entrepreneur-in-Residence program at EnterpriseWorks and the state of Illinois' Innovation Voucher Program. With strong support and focused leadership, this model is a repeatable formula for success."