FARMINGTON, Conn., April 5, 2022 /PRNewswire/ — Horizon Technology Finance Company (NASDAQ: HRZN) (“Horizon”), a top specialty finance corporation that provides funds in the type of secured loans to undertaking capital backed organizations in the technological innovation, lifetime science, healthcare details and providers, and sustainability industries, announced nowadays it closed a $15 million venture mortgage facility to MyForest Foods Co. (“MyForest Foods”), of which Horizon funded $7.5 million, and a non-public financial investment motor vehicle managed by Horizon Technological innovation Finance Management LLC, Horizon’s advisor, funded $7.5 million.
MyForest Foodstuff makes sustainable, meat different products applying mycelium, or the roots of mushrooms, which makes it possible for for foodstuff to be entire-slice – a distinct edge when making alternate food items. The initially merchandise from MyForest Foods is a bacon choice, MyBacon, that delivers all the style, crunch and sizzle of pork bacon, but made from just 6 substances. MyForest Foods is backed by prominent firms this sort of as Viking World-wide Investors and AiiM Companions, and will use the mortgage proceeds for expansion and doing the job cash needs.
“MyForest Food items is changing the activity for choice foods,” said Gerald A. Michaud, President of Horizon. “We believe the results of MyBacon is just the starting for MyForest Foods, as presenting a real choice to total cuts of meat will open up an completely new and huge industry prospect to offer buyers with more healthy and tastier plant-primarily based food options. We are energized to spouse with and assistance MyForest Foods’ advancement ideas.”
“We are only scratching the area of the mycelium approach with MyBacon,” stated Eben Bayer, founder and Main Govt Officer of MyForest Food items. “We have productively recreated the multi-sensory experience of consuming a total slice of meat with MyBacon, contrary to other plant-based alternatives that are pressured to system and condition their meat. The distinction is definitely putting, and buyers have overwhelmingly responded positively to MyBacon. Horizon’s guidance will enable us to additional acquire additional goods and generate an full new category of complete-cut plant-dependent foodstuff.”
About Horizon Technological know-how Finance
Horizon Technological innovation Finance Company (NASDAQ: HRZN) is a top specialty finance company that presents cash in the form of secured loans to undertaking funds backed corporations in the engineering, life science, health care details and products and services, and sustainability industries. The investment aim of HRZN is to maximize its investment portfolio’s return by generating current earnings from the personal debt investments it helps make and capital appreciation from the warrants it gets when making this sort of credit card debt investments. Horizon Technology Finance Management LLC is headquartered in Farmington, Connecticut, with a regional business in Pleasanton, California, and financial investment specialists positioned in Portland, Maine, Austin, Texas, and Reston, Virginia. To find out far more, make sure you take a look at horizontechfinance.com.
About MyForest Meals
MyForest Food items is an American foodstuff technologies corporation and an affiliate of Ecovative. MyForest Foods’ proprietary system employs a purely natural tremendous-component termed mycelium to improve nutrient-abundant fibers that replicate the textures and mouthfeel of meat. MyForest Foodstuff is a direct-to-purchaser foodstuff brand name now selling MyBacon(R) Strips at the Straightforward Excess weight Food Co-Op in Albany, NY, with additional widespread availability anticipated in 2022. To master additional, check out myforestfoods.com.
Statements integrated herein may perhaps constitute “ahead-wanting statements” inside the this means of the Non-public Securities Litigation Reform Act of 1995. Statements other than statements of historic facts incorporated in this push launch may well constitute ahead-looking statements and are not ensures of long run overall performance, ailment or success and require a selection of pitfalls and uncertainties. Genuine outcomes may well vary materially from these in the ahead-looking statements as a final result of a variety of components, together with individuals explained from time to time in the Company’s filings with the Securities and Trade Fee. Horizon undertakes no duty to update any ahead-wanting statement made herein. All ahead-seeking statements discuss only as of the day of this push release.
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