SAGE Electrochromics Secures $20 Million in Financing (posted 3/4/09)
SAGE Electrochromics, Inc. recently announced that it has closed a $20 million investment round. Good Energies, a leading global investor in the renewable energy and energy efficiency industries, led the funding, with additional investments from Applied Ventures, LLC (the venture capital arm of Applied Materials, Inc.), NV Bekaert SA 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.
“We are excited to continue working with these firms who have long and successful track records of investing in renewable energy and energy-efficiency companies, and can lend their respective expertise to helping us achieve our business goals,” said John Van Dine, SAGE’s chief executive officer and chairman of the board. “I am excited to lead SAGE as it looks to expand its capacity to serve international markets and maintain our pace of growth.”
For additional information, visit www.sage-ec.com, www.goodenergies.com, www.appliedventures.com or www.bekaert.com.