WASHINGTON - The Obama administration is investing more than $100 million in a cutting-edge Minnesota glass company that hopes to revolutionize energy efficiency in buildings.
Sage Electrochromics of Faribault has won a $72 million federal loan guarantee for a major expansion of its manufacturing facility, where the company has developed "smart" glass for windows and skylights that reduce energy use. The loan comes on top of $31 million in clean energy manufacturing tax credits the company received from last year's economic stimulus bill.Company CEO John Van Dine said the federal loan was being secured in part by another $20 million in private bank financing.
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