Governor Pritzker Announces Illinois Manufacturer Richardson Electronics, Ltd. to Expand Operations in Kane County, Produce Battery Energy Storage Systems

LAFOX, Ill., Aug. 20, 2025 (GLOBE NEWSWIRE) -- Governor JB Pritzker, the Illinois Department of Commerce and Economic Opportunity (DCEO), and Richardson Electronics, Ltd. (NASDAQ:RELL),– a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and more – today announced the Company will expand its operations at its manufacturing headquarters in La Fox, Illinois. Richardson Electronics plans to make a capital investment of more than $8.5 million over the next four years with support from the Reimagining Energy and Vehicles in Illinois (REV Illinois) program. The Company plans to expand its operations, retain nearly 200 skilled employees, and create 54 new full-time jobs in the region.

"Here in Illinois, we're committed to building a clean energy economy to help power our planet while supercharging the state's economy," said Governor JB Pritzker. "With unmatched infrastructure, a qualified workforce, and competitive incentives, Illinois continues to attract clean energy investments from companies like Richardson Electronics, creating new jobs for Illinoisans and strengthening our reputation as a leader in the clean energy economy."

"Illinois continues to lead the way in clean energy innovation and advanced manufacturing, and Richardson Electronics' expansion is a testament to that momentum," said DCEO Director Kristin Richards. "Through the REV Illinois program, we support companies that are growing their footprint in our state, creating high-quality jobs, and advancing our transition to a clean energy economy here in Illinois."

Richardson Electronics will build upon its existing alternative energy business to develop next-generation energy storage products that support electric grid stability. The Company will invest in equipment and structural upgrades in order to research, develop, and produce next-generation battery energy storage system (BESS) technologies at the Company's Illinois manufacturing facility. These technologies are designed to address brownouts, reduce electricity costs, and support renewable energy integration, while demonstrating the commercial viability of long-duration energy storage (LDES). The Company's BESS technology is being developed for industries such as manufacturing, healthcare, and critical infrastructure operations.

"We are proud to launch this energy storage system initiative, which reflects our continued commitment to innovation, community impact, and long-term growth," said Greg Peloquin, Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions. "We extend our sincere thanks to Representative Dan Ugaste, Kane County board member Rick Williams, and the team at DCEO, for their leadership and steadfast support. Their partnership has been instrumental in making this project a reality for Richardson Electronics, our customers, and the people of Illinois."

Richardson Electronics' decision to expand their operations within Illinois builds upon the numerous manufacturing companies that have also recently chosen to establish or expand their business in the state, including Pure Lithium and Adient, due to the state's skilled workforce, strong infrastructure and commitment to clean energy.

Guided by Illinois' Economic Growth Plan, the REV Illinois program supports a targeted industry for the state – clean energy production and advanced manufacturing – which continues to grow with assistance from Illinois' leadership and their support of innovative technologies that reduce costs and emissions. As part of the State's incentive package, Richardson Electronics received a REV Illinois tax credit for their capital investment and commitment to job creation. The REV agreement also specifies the retention of 190 jobs for the entirety of the agreement period. A link to the full Richardson Electronics agreement can be found here.

About Richardson Electronics, Ltd.

Richardson Electronics, Ltd. is a leading global manufacturer of engineered solutions, green energy products, power grid and microwave tubes and related consumables; power conversion and RF and microwave components; CT X-ray tubes; and customized display solutions. More than 50% of our products are manufactured in LaFox, Illinois, Marlborough, Massachusetts, or Donaueschingen, Germany, or by one of our manufacturing partners throughout the world. All our partners manufacture to our strict specifications and per our supplier code of conduct. We serve customers in alternative energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific and semiconductor markets. The Company's strategy is to provide specialized technical expertise and "engineered solutions" based on our core engineering and manufacturing capabilities. The Company provides solutions and adds value through design-in support, systems integration, prototype design and manufacturing, testing, logistics and aftermarket technical service and repair through its global infrastructure. More information is available at www.rell.com.

Richardson Electronics, Ltd. common stock trades on the NASDAQ Global Select Market under the ticker symbol RELL.

About Richardson Electronics – Green Energy Solutions

Richardson Electronics Green Energy Solutions combines our key technology partners and engineered solutions capabilities to design and manufacture key products for the fast-growing energy storage market and power management applications. As a designer, manufacturer, technology partner, and authorized distributor, GES's strategy is to provide specialized technical expertise and engineered solutions using our core design engineering and manufacturing capabilities on a global basis. We provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. GES focuses on products for numerous green energy applications such as wind, solar, hydrogen, and electric vehicles and other power management applications that support green solutions such as synthetic diamond manufacturing. For more information, visit us at https://www.rell.com/greenenergysolutions/.

About Richardson Electronics – Power & Microwave Technologies

For over 75 years, Richardson Electronics has been your industry-leading global provider of engineered solutions, RF & microwave, and power products. The Power & Microwave Technologies group continues this legacy and complements it with new products from the world's most innovative technology partners. Richardson Electronics' Power & Microwave Technologies group focuses on what we do best: identify and design disruptive technologies, introduce new products on a global basis, develop solutions for our customers, and provide exceptional worldwide support. As a global company, we provide solutions and add value through design-in support, systems integration, prototype design and manufacturing, testing, logistics, and aftermarket technical service and repair—all through our existing global infrastructure. More information is available at rellpower.com | relltubes.com | rellaser.com.

For Details Contact:

Greg Peloquin

Executive Vice President & GM

Power & Microwave Technologies and Green Energy Solutions

Phone: (630) 659-8900

[email protected]

40W267 Keslinger Road

LaFox, IL 60147-0393 USA

(630) 208-2200 | Fax: (630) 208-2550