Horizon Technology Finance has announced that the company has provided a $20 Million Venture Loan Facility to Provivi. The finance company has further added that it has already granted a $10 Million loan to Provivi from the $20 Million. Armentum Partners served as the Financial Advisors to the Provivi to secure the financing.
Provivi is a leading ground-breaking Science company that engages in the development of natural crop protection products that helps to reduce the crop infestation and disrupt the typical insect mating cycle, which results in the greater yield. The patented processes of the company helps reduce the 80% cost of environment friendly pheromones. The company has also partnered with Tybourne, Pontifax AgTech, Kairos Ventures, Spruce Capital and BASF Venture Capital.
President of Horizon, Gerald Michaud said, “Provivi’s pheromone-based crop protection solutions have proven to reduce pest infestations and improve the quality and yield of crops. The environmental benefits and significant cost reduction associated with Provivi’s solutions are clear.”
“Our loan facility will provide financial resources for Provivi to rapidly scale production and introduce its pheromone products to the global market. We are pleased to add our support to Provivi as it prepares to launch its crop protection product suite across the globe,” President of Horizon Gerald Michaud further added.
Co-Founder and Chief Executive Officer of Provivi, Dr. Pedro Coelho said, “We are appreciative of Horizon’s confidence in Provivi and our all-natural, cost-effective pheromone-based crop protection solutions.”
“Provivi’s proprietary production technique greatly reduces the cost of manufacturing pheromones, making it possible to significantly expand their utilization to a much wider variety of crops. Horizon’s investment will help us launch and effectively market the Provivi product suite, and will enable us to rapidly grow our business,” Dr. Pedro Coelho further added.