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SAGE to Build New Manufacturing Facility in
Minnesota
March 8, 2010
SAGE Electrochromics Inc. has been offered a conditional commitment
for a $72 million loan guarantee by the U.S. Department of Energy
(DOE). Coupled with the $31 million Advanced Energy Manufacturing
Tax Credit awarded earlier this year, the company has now secured
more than $100 million in federal funding, which will help it establish
a facility for manufacturing energy-saving electronically tintable
glass. The company plans to tap the DOE funding to build a high-volume
manufacturing plant next to its headquarters in Faribault, Minn.
The 250,000-square-foot facility is expected to add 160 full-time
green manufacturing and technology jobs to the 100 jobs in SAGE's
current plant in southern Minnesota. More than 200 construction
jobs will also be created. According to a company announcement,
a study by Deloitte Consulting concluded the plant will add nearly
400 permanent jobs to the area's economy. Groundbreaking is scheduled
for summer of 2010, and the plant will begin shipping its products
in the latter part of 2011.
Energy Secretary Steven Chu announced the conditional loan guarantee
commitment for SAGE, which was granted under the Department of Energy's
Loan Guarantee Program. Established under the Energy Policy Act
of 2005, the Loan Guarantee Program supports innovative technologies
that reduce or sequester greenhouse gases.
"The company's electronically tintable glass is a prime example
of these energy efficiency technologies. Our technology is a game
changer for the building industry," says John Van Dine, SAGE
chief executive officer and founder. "With this funding, SAGE
will now have the scale and capacity to bring this remarkable technology
to the market in high volume. These revolutionary windows will have
a significant impact on reducing the nation's energy consumption.
We thank the Obama administration, Energy Secretary Steven Chu and
the DOE for this tremendous validation, and for the funding necessary
to construct this high-volume facility."
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