Ymer Technology, a Swedish company specializing in electric vehicle (EV) components, has officially opened its U.S. headquarters in Buffalo Grove, Illinois. The $5.7 million investment is set to bolster the state's ambitions to become a hub for the EV industry, particularly through the production of cooling technology and thermal management systems for EVs. The move aims to support Illinois' clean energy economy. It underscores the partnership between multiple stakeholders, including Ymer Technology, the Illinois Department of Commerce and Economic Opportunity (DCEO), Lake County Partners, and the Village of Buffalo Grove.
Expectations are high for the impact that Ymer's presence will have on the local economy. "Illinois' future is electric, and we're leading the charge and open for business," stated Governor JB Pritzker. The state's REV Illinois agreement, which stands for Reimagining Energy and Vehicles, is instrumental in leveraging these initiatives fully. This relocation is part of Ymer Technology's broader expansion strategy. Illinois is chosen for its industry leadership and strategic advantages, including a central location and a robust EV industry network.
Following an expedited site selection process that spanned only two weeks, Ymer Technology expressed confidence in their decision to move their operations to Illinois. Frederik Peterson, Founder of Ymer Technology, acknowledged the collective efforts of the DCEO, Lake County Partners, and Buffalo Grove officials, lauding Illinois for its competitive workforce and favorable business environment. "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," Peterson said.
This relocation is also set to stimulate job creation, with Ymer Technology projecting more than 30 new positions. Kristin Richards, the Director of the Illinois Department of Commerce and Economic Opportunity, noted the reciprocal benefits of this move for the state and the company. "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," shared Richards.
The long-term advantages are clear, with Lake County officials emphasizing the alignment of Ymer's products with local sustainability goals. Village President Eric Smith shared his enthusiasm: "I'm thrilled that Ymer will bring more jobs to our community, where advanced manufacturing maintains the largest share of our workforce." With an existing ecosystem of over 1,000 EV-related companies, Illinois is strategically investing in infrastructure and workforce development to maintain its progressive trajectory within the clean energy sector. The state's commitment is reinforced through investments topping $180 million in renewable energy workforce training as part of the Climate and Equitable Jobs Act (CEJA).
