Bedrock Materials, a battery tech startup born out of Stanford University, is set to electrify Chicago's research and development scene by planting its R&D headquarters in the Windy City, reports indicate that the company's move is driven by Illinois' rich EV ecosystem and the potential to tap into a pool of talent fostered by Argonne National Laboratory's prestigious work on sodium-ion batteries. Spencer Gore, CEO of Bedrock Materials, cited it as the epicenter of automotive battery chemistry advancement in the United States, "Argonne National Laboratory wrote the book on modern sodium-ion technology," he told Illinois officials, as stated by illinois.gov.
Illinois Governor JB Pritzker expressed his exhilaration over Bedrock's decision, which aligns with the state's efforts to bolster the EV supply chain, creating jobs, and fostering innovation, "Illinois is home to one of the most robust EV ecosystems in the nation, and I'm thrilled to welcome Bedrock Materials to our great state," he said. The $9 million seed-funded company aims to cut electric vehicle costs by developing commercial sodium-ion battery materials, allowing for scalable and cost-effective production this promise has secured Bedrock a place among the trailblazers of Illinois' burgeoning EV industry.
Moreover, Gore also praised Illinois for its livability, including the quality of life and cost advantage over other burgeoning tech hubs, with the State's public schools, transportation system, and cultural offerings noted as draws. Mayor Brandon Johnson welcomed Bedrock with open arms, recognizing the company's potential impact on Chicago's tech community, "This decision reflects the strength of Chicago's talent pool, our esteemed research and academic institutions, and the vibrant tech ecosystem emerging here," according to illinois.gov.
Bedrock is poised to capitalize on Illinois' comprehensive support structure for innovative endeavors, as highlighted by Intersect Illinois CEO Dan Seals; the company will also benefit from the competitive REV incentives, aimed at drawing and retaining energy-efficient manufacturers, in addition to aligning itself with more than 1,000 companies threading through the EV supply chain across the State. With a financial commitment of $2.5 million and the addition of at least 25 jobs, these incentives were deemed a fitting allure for the company's ambitions. The announcement dovetails with Illinois' inaugural EV Industry Day, reinforcing the State's dedicated march towards a sustainable and technologically advanced future.
