SAGE Electrochromics recently broke ground on what will be the world’s largest and most advanced electrochromic “dynamic glass” manufacturing facility, located in Faribault, Minn., 40 miles south of Minneapolis. The project is to be funded in part with a loan guaranteed by the Department of Energy, but a $25 million dollar fee levied on the loan potentially put the project in jeopardy.
Thanks to hard-fought negotiations by Minnesota’s legislative delegation – including Senators Amy Klobuchar and Al Franken, Congressmen John Kline and Tim Walz, and Congresswoman Betty McCollum – the spending bill now includes terms that allow qualifying borrowers to avoid payment of those subsidy fees.
“We’re proud that our legislative delegation worked together to preserve this wise investment policy that will create green manufacturing jobs in Minnesota while developing new energy technologies that help cut utility bills, reduce carbon pollution and lessen our dependency on foreign oil,” said John Van Dine, SAGE founder and CEO. “Thanks to their efforts, Minnesota is now better positioned to become a clean tech innovation engine for creating a stronger economy and a healthier planet.”
The spending bill will support the financing of the construction and operation of a 300,000 square foot, high volume manufacturing facility to produce SageGlass®, an energy-saving dynamic window glass technology for commercial and residential buildings.
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