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CHAMPAIGN, Ill. – 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.at 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.”      

CHAMPAIGN, Ill. (Sept. 18, 2025)  – W. Brooke Elliott, Dean of Gies College of Business at the University of Illinois Urbana-Champaign, Shannon O’Hare, executive managing director at Cushman & Wakefield and Ryan Coon, an entrepreneur and venture capital investor, have joined the University of Illinois Research Park Board of Managers. Their appointments were approved by the University of Illinois Board of Trustees at its September 2025 meeting.  The Board of Managers, a public-private board, is the governing body of University of Illinois Research Park LLC, which assists the university in developing and operating research parks in support of its economic development mission.  Former BOM member Pat Daly’s term expired in 2025, creating a vacancy for a business representative. Upon that transition, the decision was made to expand the board (as per the existing by-laws). That meant adding one additional faculty member as well as one business representative, for a total of three in each category. Chancellor Charles L. Isbell Jr. nominated Dean Elliott as a faculty appointment with O’Hare and Coon filling the business representative roles. Elliott, the Josef and Margot Lakonishok Professor in Business and Dean of Gies College of Business, has been at the U. of I. since 2003, starting as a professor of accountancy. She now leads the College in developing a compelling, strategic vision while continuing to build upon its distinctive brand and identity. This includes assessing and expanding Gies Business’ portfolio of on-campus and online programs to strengthen its position as an innovative leader among the nation’s best business schools. Elliott is an expert in her field and has been cited in widely recognized press outlets including Fortune and The Wall Street Journal. Shannon O’Hare has more than 20 years of experience in economic development and financial incentive negotiation. O’Hare serves as the executive managing director at Cushman & Wakefield leading the Business Incentives Practice, representing clients across a wide range of industries including automotive, healthcare and retail. She also negotiates incentives for real estate development projects nationwide, and prides herself on her long-standing client relationships. Some of her previous positions were held at Deloitte & Touche LLP and Arthur Andersen LLP. O’Hare earned a bachelor’s degree in accountancy from the Gies College of Business.  Ryan Coon is co-founder of Avail, a platform used to improve rental experiences for do-it-yourself landlords and renters. Avail was acquired by Realtor.com in December 2020, where Coon became CEO of Avail and Category Manager – Rentals at Realtor.com. Before co-founding Avail, Coon worked at BMO Capital Markets performing mergers and acquisitions as an investment banking associate. Coon graduated with honors from the Gies College of Business in 2007. He is active in the Chicago tech community and serves on the Board of Directors of La Casa Norte, an organization fighting youth and family homelessness in Chicago.  

Champaign-Urbana Aerospace, a graduate of EnterpriseWorks, was recently featured by The Grainger College of Engineering for its role in advancing aerospace innovation.  The feature highlighted the entrepreneurial journeys of CU Aerospace president David Carroll, and Phil Ansell, associate professor of aerospace engineering and the company’s director of aerodynamics. Both leaders emphasized how the University’s innovation ecosystem and Research Park resources supported their efforts to develop from idea to impact. “CUA is uniquely poised to make meaningful partnerships with the university,” said Ansell. CUA is an prime example of how the University of Illinois Research Park helps startups become industry leaders and maintain lasting partnerships with the university. Founded in 1998 by six current and former university faculty members, CUA develops and produces aerospace technologies, including propulsion systems, advanced materials, simulation tools, and plasma technology. Today, the company generates $5 million in annual revenue and continues to grow from its headquarters in northwest Champaign. Read the full article HERE.