Saint-Gobain to Make $80 Million Strategic Investment in Energy-Saving Glass Maker Sage
November 11, 2010
Source: Clean Edge News
Saint- Gobain, a global glass and construction material manufacturer, is making an $80 million strategic equity investment in Sage Electrochromics to make electronically tintable "dynamic glass" an affordable, energy-saving, mass-market product.
Under terms of the agreement, Saint-Gobain will contribute its electrochromic glass intellectual property (IP) to SAGE, and all manufacturing and R&D efforts will be merged. SAGE will manufacture the dynamic glass for both companies' product lines at its facilities in Faribault, Minn.
According to the companies, the funding will enable construction of the world's largest and most advanced electrochromic glass manufacturing facility, to be located in Faribault, Minn. The project began this month and will cost around $135 million, excluding working capital. Sage will remain an independent company and will market its SageGlass products in North America. Saint-Gobain will distribute the SageGlass technology under the QUANTUM GLASS brand in Europe.
The U.S. Department of Energy recently conditionally awarded SAGE more than $72 million in DOE loan guarantees. According to U.S. Energy Secretary Steven Chu, "SageGlass, which can be used in windows, skylights and curtain walls, allows natural light to come through while controlling unwanted solar heat and glare. This technology can help transform windows and skylights from energy liabilities to energy savers. Lawrence Berkeley National Lab, a DOE facility, believes that SageGlass has the potential to reduce building heating and air conditioning equipment size by up to 25 percent, which would cut construction costs. SageGlass could also reduce the overall cooling loads for commercial buildings up to 20 percent by lowering peak-power demand and may reduce lighting costs by up to 60 percent."