Loan sparks expansion
USA: Sage Electrochromics has been offered a $72 million loan guarantee by the US Department of Energy, which comes hot the heels of a $31 million tax credit the company was awarded earlier this year.
The company is using the money to establish a factory in Minnesota for the manufacture of energy-saving electronically tintable glass, which has been designed to shade buildings from the effects of the sun. The dynamic glass can change from a clear state to a tinted state at the push of a button, and windows using this technology can control the amount of sunlight that enters a building which then reduces the amount of energy consumed for air conditioning, heating and lighting.
British-born Helen Sanders from Sage, recently visited the UK, and told aluminiuminarchitecture that the money will also go towards extending the company’s reach in to Europe, and that she had already received positive feedback from a number of architects during her trip.
Helen said that one option for the company would be to seek a glass company, which would distribute Sage’s products on its behalf.
