Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides secured loans to venture capital and private equity backed development-stage companies in the technology, life science, healthcare information and services, and clean-tech industries, today announced it led a $6 million venture loan facility forNanocomp Technologies, Inc. ("Nanocomp"), a developer of high performance materials and component products made from carbon nanotubes (CNTs).
Nanocomp will use the funds for working capital purposes. Horizon funded an initial $1 million of its $2 million commitment under the venture loan facility.
"We are delighted to add Nanocomp to our high-quality loan portfolio. The company's advanced carbon-based materials provide strategic advantages for its commercial and defense customers," stated
Gerald A. Michaud
, President of Horizon. "Nanocomp's innovative products are considered critical for national defense and can be applied across a wide range of commercial end-markets, including aerospace and defense, aviation, automotive and energy. We look forward to working with Nanocomp on their exciting journey to revolutionize CNT manufacturing and integration."
, Co-Founder, President & CEO of Nanocomp stated, "The $6 million loan facility led by Horizon provides a valuable enhancement to Nanocomp's capital structure as we continue to meet the demand for our carbon nanotube products. We appreciate the support we have received from Horizon, a leading venture lender, which is testament to Nanocomp's promising future."