Sage Electrochromics raises $20 million

Date: 27 February 2009

Sage Electrochromics Inc., a maker of energy-efficient glass for windows, has closed on $20 million in financing, the company said Tuesday.Faribault-based Sage will put the capital toward expanding into international markets, ramping up manufacturing and marketing, as well as product development.

Good Energies, a renewable-energy investor, led the round of financing. Applied Ventures, the venture arm of Santa Clara, Calif.-based nanotechnology firm Applied Materials Inc., and Bekaert Corp., a coatings and materials firm based in Belgium, also participated.

The three firms also invested in Sage in 2007.

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