Daily News: November 1, 2013

Horizon Tech Leads Venture Loan for Nanocomp Technologies

Horizon Technology Finance announced it led a $6 million venture loan facility for Nanocomp Technologies, 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.”

Nanocomp Technologies is a commercial producer of carbon nanotube-based lightweight sheets, tapes, wires, and yarns.