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Horizon Tech Finance Provides $2.5MM Venture Loan to Powerhouse Dynamics

May 22, 2015, 08:08 AM
Filed Under: Technology

Horizon Technology Finance Corporation announced it has closed a $2.5 million venture loan to Powerhouse Dynamics, a provider of enterprise energy management systems for portfolios of small commercial facilities. Powerhouse Dynamics will use the funds for working capital.

"Powerhouse Dynamics is a strong addition to our high quality venture loan portfolio," stated Gerald A. Michaud, President of Horizon. "The company's smart energy and asset management technologies, combined with its pipeline of new opportunities, highlight its promising growth potential. Our venture loan provides Powerhouse Dynamics with the capital required to execute on its strategic initiatives."

Martin Flusberg, CEO of Powerhouse Dynamics, stated, "As we increase the market penetration of our award-winning SiteSage® platform in restaurant, convenience store, and retail chains, Horizon's venture loan is an important source of funding that better positions us to achieve our growth objectives. We appreciate Horizon's efficient financing solution, which is a testament to its expertise in venture lending."

Horizon Technology Finance Corporation is a leading specialty finance company that provides capital in the form of secured loans to companies backed by venture capital firms within the technology, life science, healthcare information and services and cleantech industries.

Powerhouse Dynamics uses cloud-based controls and analytics to deliver enterprise-wide operational and energy efficiency solutions to portfolios of small commercial facilities, including restaurants, convenience stores, retailers, and others. The Powerhouse Dynamics SiteSage platform reduces energy, maintenance, and repair expenses by centralizing control, analysis, and management of energy-consuming equipment.

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