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The Latest...
Sage in the Running for DOE Funds
Sage Electrochromics is eligible for the next round of evaluation for possible funding from the U.S. Department of Energy’s loan guarantee program. The tintable smart glass producer plans to develop a manufacturing facility in Minnesota that would produce energy efficient windows for the commercial and residential market if it gets a piece of the loan program’s $2 billion pie.
“Loan guarantees aim to stimulate investment and commercialization of clean energy technologies to reduce our nation’s reliance on foreign sources of energy,” says Samuel Bodman, Secretary of Energy. “Finalizing this regulation for the department’s loan guarantee program puts Americans one step closer to being able to use new and novel sources of energy on a mass scale to reduce emissions and allow for vigorous economic growth and increased energy security.”
The loan program was authorized by the Energy Policy Act of 2005, but the DOE just recently announced the final regulations for the program. Sixteen project sponsors that submitted pre-applications last fall, including Sage Electrochromics, were asked to submit full applications for the loan guarantees.
Eligible projects must employ new or significantly improved technologies that support clean air initiatives compared to currently available commercial technologies. The DOE will likely grant up to $2 billion in loan guarantees. The interested finalists will now undergo extensive reviews as part of the full application process.
For more information, visit www.lgprogram.energy.gov.
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