Saint-Gobain to make $80 million strategic investment in Sage Electrochromics
Saint-Gobain, France, one of the world’s largest glass and construction material manufacturers, is making a strategic equity investment in Sage Electrochromics to make electronically tintable, dynamic glass an affordable, mass-market product, according to a Nov. 10 release.
Under terms of the agreement, Saint-Gobain will contribute its electrochromic glass intellectual property to Sage, and all manufacturing and R&D efforts will be merged. Sage will manufacture the next-generation dynamic glass for both companies' product lines at its facilities in Faribault, Minn. Two senior members of Saint-Gobain's management
team – Jean-Pierre Floris and Francois-Xavier Moser – will join Sage's board of directors.
The funding will enable construction of the world's largest and most advanced electrochromic glass manufacturing facility, to be located in Faribault, Minn., according to the release. The project began this month and will cost around $135 million, excluding working capital. The new plant will manufacture much larger sheets of glass that have been previously unavailable in the market, opening up 95 percent of all global building opportunities. The glass will be produced in high volumes and at an affordable price point, according to the release.
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 two companies will work together to develop a marketing strategy for Asia and the rest of the world, leveraging Saint-Gobain's vast global distribution partnerships. Sage and Saint-Gobain will also look to forge partnerships with large strategic players to further accelerate the widespread deployment of electrochromic products. They will also work together to create efficiencies in the global distribution network that responsibly reduce carbon footprint, the release states.
Read the full release.