Horizon Technology Finance, 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 led a $15 million venture loan facility for Lehigh Technologies, Inc.

Lehigh is a specialty materials company which produces micronized rubber powders (MRP), a lower cost, high-performance, sustainable material that can be used in applications such as tires, asphalt, coatings and polyurethanes. Lehigh is backed by leading venture capital firms, including Kleiner, Perkins, Caufield & Byers, Index Ventures, and Leaf Clean Energy Company and has recently expanded into Europe. Lehigh will use the loan proceeds for working capital and capital expenditures.

"As a leader in sustainable materials, Lehigh Technologies represents a solid addition to our growing venture loan portfolio," stated Gerald A. Michaud, President of Horizon. "Lehigh's proprietary manufacturing technology converts waste rubber into micronized rubber powders, which are used in a wide variety of industrial applications and provide numerous environmental benefits. This loan facility will support Lehigh's global expansion initiatives and manufacturing process upgrades."

Dr. Alan Barton, CEO of Lehigh Technologies, stated, "We are pleased to receive this important financing led by Horizon, a lender with a strong array of financial products and an experienced team of lending experts. We appreciate Horizon's confidence in our long-term vision and strategy to expand into various markets, both domestically and abroad, and help our customers reduce costs and to achieve their sustainability goals."

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.