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Horizon Technology Finance Leads $6MM Venture Loan Facility for Nanocomp

October 31, 2013, 07:29 AM
Filed Under: Technology

Horizon Technology Finance Corporation, 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 for Nanocomp 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."

Peter Antoinette, 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."

Horizon Technology Finance Corporation is a business development company that provides secured loans to development-stage companies backed by established venture capital and private equity firms within the technology, life science, healthcare information and services, and clean-tech industries.

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