Sage Electrochromics secures $20 million in new financing

Sage Electrochromics Inc., Faribault, Minn., the only provider of commercially viable, energy-saving electrochromic smart window products for buildings, today announced that it has closed a $20 million investment round, according to a Feb. 24 company release. Good Energies, New York City, a global investor in the renewable energy and energy efficiency industries, led the funding, with additional investments from Applied Ventures LLC, Santa Clara, Calif., the venture capital arm of Applied Materials Inc., Santa Clara, NV Bekaert SA, Belgium, and Bekaert Corp. Good Energies, Applied Ventures and Bekaert invested in a previous Sage financing round in 2007.

Sage's patented technology, trademarked SageGlass, provides window and skylight systems that can be dynamically darkened or lightened to provide optimal daylight levels and clear views while sharply cutting air conditioning energy use. The funding will enable Sage to expand the scope of its work in international markets, new product and business development, manufacturing and sales and marketing initiatives, according to the release.

Read the full release.