Pure Lithium Corporation, a pioneering battery technology company, has announced its relocation from Boston to Chicago, marking a significant development in Illinois’ clean energy sector. This transition involves a substantial investment of $46 million, aimed at enhancing local manufacturing and creating new employment opportunities.
Governor JB Pritzker welcomed the announcement, emphasizing the importance of Pure Lithium’s move as a vital addition to the state’s growing clean energy and business ecosystem. The investment is expected to stimulate economic growth and contribute to Illinois’ ongoing initiatives to promote clean energy manufacturing.
The decision to relocate is influenced by the Reimagining Energy and Vehicles in Illinois (REV Illinois) program. This initiative provides financial incentives for companies focusing on innovative battery production. Pure Lithium aims to produce lithium metal batteries, targeting markets such as drones, defense, and electric vehicles.
“I am excited to welcome the team at Pure Lithium to our state, where they’ll be an excellent addition to the business landscape and burgeoning clean energy ecosystem,” Governor Pritzker commented during the announcement. The company plans to establish its new facility within the Fulton Market district of Chicago, with operations expected to begin later this year.
Strategic Benefits of Relocation
The strategic choice of Chicago is pivotal for Pure Lithium, as it allows the company to access a skilled workforce of technicians and engineers essential for its transition from research and development to commercial production. Moreover, the proximity to Argonne National Laboratory will enhance collaborative efforts to advance lithium metal anode production using recycled materials.
Emilie Bodoin, Founder and CEO of Pure Lithium, affirmed the strategic importance of the new facility, stating, “Our new facility in Chicago aligns with the company’s long-term operational goals and growth strategy.” The relocation is set to generate approximately 50 new jobs, reinforcing the state’s commitment to fostering a robust manufacturing sector in clean energy.
Under the REV Illinois program, Pure Lithium qualifies for various incentives, reflecting the state’s dedication to achieving its clean energy objectives. According to Kristin Richards, Director of the Illinois Department of Commerce and Economic Opportunity, “Through the REV Illinois program, the State is supporting companies that have a shared mission of bolstering manufacturing jobs in Illinois’ clean energy economy.”
As Illinois positions itself as a leading hub for clean energy manufacturing, the addition of Pure Lithium is expected to attract more major players to the region. The state has been actively offering competitive incentives and leveraging its highly skilled workforce to lure investments.
Impact on the Illinois Economy
The $46 million investment from Pure Lithium signifies a substantial commitment to the state’s growth strategy aimed at building a vibrant economy centered around clean energy. As noted by Christy George, President and CEO of Intersect Illinois, the move highlights the state’s attractive offerings for businesses in the clean energy sector.
Pure Lithium joins a growing list of manufacturers, including Damera Corporation, Rivian, and Wieland North America, who have successfully established operations in Illinois. This trend underscores the state’s potential as a nurturing environment for companies looking to scale and innovate in the clean energy landscape.
The arrival of Pure Lithium Corporation in Chicago not only marks a significant milestone for the company but also reinforces Illinois’ commitment to advancing its clean energy initiatives and fostering economic development. As the state continues to attract investments, it aims to solidify its position as a leader in the clean energy manufacturing sector, benefiting both the economy and the environment.
