FARMINGTON, Conn. and NEWTON, Mass., May 21, 2015 (GLOBE NEWSWIRE) -- Horizon Technology Finance Corporation (Nasdaq:HRZN) ("Horizon"), a leading 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 cleantech industries, announced today 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."
About Horizon Technology Finance
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. The investment objective of Horizon is to maximize total returns by generating current income from a portfolio of directly originated secured loans as well as capital appreciation from warrants that it receives when making such loans. Headquartered in Farmington, Connecticut, Horizon has regional offices in Walnut Creek, California and Reston, Virginia. Horizon's common stock trades on the NASDAQ Global Select Market under the ticker symbol "HRZN." To learn more, please visit www.horizontechnologyfinancecorp.com.
About Powerhouse Dynamics
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.
Engineered specifically for smaller facilities, SiteSage features powerful functionality delivered via simple online and mobile interfaces. The system continuously enhances efficiencies by controlling major loads, monitoring power consumption, providing insight into the performance of individual pieces of equipment, and tracking gas and water usage. Patented analytics deliver actionable intelligence via diagnostics and alerts, and SiteSage's enterprise-wide benchmarking capabilities identify underperforming facilities and assets. To learn more about how Powerhouse Dynamics' customers maximize energy and equipment maintenance savings with minimal staff effort, visit powerhousedynamics.com, or Twitter, LinkedIn, or Facebook.
Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Horizon undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.