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Company Description
Horizon Technology Finance Corp is a specialty finance company. Its investment objective is to maximize its investment portfolio s total return by generating current income from the debt investments it makes and capital appreciation from the warrants it receives when making such debt investments. It lends to and invests in development-stage companies in the technology, life science, healthcare information and services and cleantech industries.
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Farmington specialty financier Horizon Technology Finance Corp. is lending $8 million to a company that’s developing plant-based egg whites and other animal-free proteins for use in food and supplements.
The venture loan facility, of which $5 million is initially funded, is for California-based Clara Foods, which says it ferments yeast to produce proteins “that will match the taste and texture and unique culinary functionality of a real egg.”
“Through its innovative protein platform technology, Clara Foods is making significant progress in creating a remarkable animal-free egg, Horizon President Gerald A. Michaud said in a statement. We expect its products will find a significant audience as consumers continue to increase their consumption of alternative protein sources as well as more sustainable food sources.”