Ymer Technology recently celebrated the grand opening of its new U.S. headquarters in Buffalo Grove, Illinois. The electric vehicle (EV) components manufacturer’s $5.7 million investment, bolstered by a Reimagining Energy and Vehicles in Illinois (REV Illinois) agreement, will enable Ymer Technology to produce cooling technology and thermal management systems for EVs while supporting Illinois’ clean energy economy.
“We completed an exhaustive nationwide search for a new U.S. location,” said Frederik Peterson, the Founder of Ymer Technology. “The Department of Commerce and Economic Opportunity, Lake County Partners, and the Village of Buffalo Grove worked together to support our site selection and assembled an attractive offer that highlights Illinois’ talent, work ethic, favorable climate and vast network of EV leaders.”
“Illinois’ future is electric, and we’re leading the charge and open for business,” said Governor JB Pritzker. “I’m proud to welcome Ymer Technology to our great state. Their cooling technology and thermal management systems will not only enhance our EV supply chain, they will help us make EVs more affordable, create good jobs, and grow our clean energy economy.”
Ymer Technology will invest $5.7 million into new headquarters in Buffalo Grove, IL. (Photo: Lake County Partners)
Founded in 2005 in Stockholm, Sweden, Ymer Technology chose to relocate from Houston to Lake County to take advantage of Chicagoland’s unmatched location, industry leaders, and the state’s REV incentive program. This is the first in a series of planned expansions for the company.
The state and its partners took Ymer Technology leadership and staff on a tour of sites throughout Illinois, and within two weeks the company selected this strategic location in Buffalo Grove. Shortly after opening its doors in Illinois, Ymer Technology CEO Bjorn Afzelius announced that the company has already inked its first deal.
“Illinois is a leader in the clean energy economy, and our competitive incentives continue to support companies working toward our shared clean energy goals,” said Kristin Richards, the Director of the Illinois Department of Commerce and Economic Opportunity. “Ymer Technology highlights the REV program at work – the state made the company’s relocation to Illinois seamless and opened the doors to a world-class workforce, friendly business climate, and high quality of life. In turn, Ymer Technology is significantly investing in our community, creating new jobs, and demonstrating potential for future growth in Illinois.”
As the latest company to join Illinois’ innovative EV space, Ymer Technology will provide critical cooling technology to all-battery vehicles. The company is a critical addition to the hundreds of companies across Illinois supplying components to the automotive industry.
“In Illinois Ymer will find a unique ecosystem of like-minded clean energy companies committed to a sustainable future,” said Intersect Illinois Interim CEO Paulina San Millan. “We’re thrilled that Ymer chose Illinois for its U.S. headquarters, where the state’s access to talent, its central location and infrastructure, and its network of support will allow the company to thrive.”
With its commitment to investing $5.7 million and creating more than 30 jobs, Ymer Technology will receive Reimagining Energy and Vehicles (REV) incentives from DCEO. REV provides competitive incentives for EV, solar, renewable and energy storage manufacturers to move or expand in Illinois.
Illinois is home to more than 1,000 companies across the EV supply chain and has the infrastructure to support continued growth, having invested more than $45 billion in modernizing roads, bridges, airports, ports and universities through 2025. A top-10 producer of engineering, computer science, and precision production talent in the U.S., the State has invested more than $180 million in renewable energy workforce training since 2021 through its Climate and Equitable Jobs Act (CEJA) alone, and works closely with EV manufacturers and community colleges to build the EV workforce of tomorrow.
Check out all the latest news related to Illinois economic development, corporate relocation, corporate expansion and site selection.
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Publish date : 2024-08-29 08:01:00
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