SAGE will become a wholly owned subsidiary of Saint-Gobain, while the SAGE portfolio will continue to go to market under the SageGlass® brand. Thanks to this deal, SAGE will be able to expand into international markets, develop new products and complete construction of the company’s new, state-of-the-art manufacturing facility in Faribault, Minnesota.
Saint-Gobain has agreed to purchase all outstanding shares of SAGE Electrochromics, Inc. and will own 100% of the company upon completion of the transaction.
This deal will help SAGE expand into international markets, develop new products and complete construction of the company’s new, state-of-the-art manufacturing facility in Faribault, Minnesota. The new facility, scheduled to start production in January 2013, will be the most advanced electrochromic glass facility in the world and is expected to produce 3.2 million sq.ft. of electrochromic glass annually, supporting the creation of 160 green technology jobs.
While SAGE will be a wholly owned subsidiary of Saint-Gobain, the SAGE portfolio will continue to go to market under the SageGlass® brand, leveraging Saint-Gobain’s extensive footprint from a global operations center in Faribault.
“Through this action, Saint-Gobain underscores its goal to be the reference in sustainable habitat by developing innovative solutions capable of revolutionizing the habitat market,” said Pierre-André de Chalendar, Chairman and CEO of Saint-Gobain. “The result of many years of research, SAGE’s products and technologies complement our portfolio of materials. They open up new possibilities in architecture and design by offering creative, value-added glass solutions for the commercial and residential market in order to create buildings that are comfortable, beautiful, energy efficient and environmentally friendly.”
Electrochromic glass changes from a clear state to a tinted state. It can be integrated with a building management system or activated at the push of a button to control the sunlight and heat that enters and leaves a building. It significantly reduces energy consumed for air conditioning, heating and lighting, while enhancing occupant comfort and wellbeing by providing daylight and eliminating glare. This creates a far more appealing design aesthetic standard for the architectural industry compared to the current prevalent use of mechanical window shades and blinds and other building add-ons.
“We are delighted SAGE is joining Saint-Gobain’s portfolio of innovative glass and building materials,” said John Van Dine, SAGE CEO and founder. “They have been an outstanding partner the past two years, contributing technical and manufacturing expertise, financial support and strategic guidance to the SAGE team, as well as offering access to the company’s research centres. The combined patent portfolio of Saint-Gobain and SAGE is quite substantial. We also want to thank the full range of our investors, who have made significant monetary and advisory contributions to SAGE over the years, all of whom helped bring the SAGE vision to fruition since its founding in 1989.”