Horizon Technology Finance, a specialty finance company that provides capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information and services, and sustainability industries, along with lending partner Trinity Capital, a provider of debt and equipment financing to growth-stage companies, provided an additional $20 million venture loan to Nexii Building Solutions, a green construction company that designs and manufactures low carbon buildings and products. Horizon and Trinity previously provided $40 million in venture loans to Nexii.
Under the terms of the agreement, Horizon and a private investment vehicle managed by Horizon Technology Finance Management, Horizon’s adviser, provided Nexii with $10 million and $5 million, respectively, while Trinity provided $5 million. Nexii expects to use the loan proceeds for general growth and working capital purposes, including the building of its new U.S. manufacturing facility.
“Since our original commitment last year, Nexii has made significant strides within the construction industry through its innovative, efficient and environmentally conscious building solutions, positioning it well to further expand its operations,” Gerald A. Michaud, president of Horizon, said. “We are excited to add to our support of Nexii as it continues its strong growth trajectory.”
“The Nexii team continues to make significant progress with their planet-friendly building solutions, and we are excited to increase our commitment to this rapidly growing company,” Ron Kundich, chief credit officer of Trinity Capital, said.
“We are very thankful for Horizon and Trinity’s continued partnership with Nexii,” Stephen Sidwell, co-founder and chief executive officer of Nexii, said. “Our revolutionary green building solutions are enabling us to win new projects with some of the largest global brands, and with Horizon and Trinity’s expanded support, we are well situated for continued growth and deliver our sustainable construction technology worldwide.”