Farmington lender Horizon Technology Finance Corp. has invested $5 million in a Texas company that dispenses engine-cleaning additives at the gas pump.
The financier of companies engaged in clean-technology, life sciences and healthcare information and services said it issued a secured venture loan to Additech Inc. of Houston that will be used for working capital.
Privately held Additech markets nationally patented software and hardware that delivers measured amounts of additives for cleaning fuel lines and injectors to improve fuel economy in internal-combustion engines.
Horizon’s loans typically require borrowers to repay the debt with a combination of cash and equity, usually stock warrants.
