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Hercules Expands its Energy & Renewable Technology (CleanTech) Team and Capabilities with Addition of Three Seasoned Investment Professionals

Hercules Technology Growth Capital, Inc. (NYSE:HTGC) (“Hercules” or the “Company”), the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science, and energy & renewable technology industries, announced today the addition of three experienced investment professionals to its team focused on the energy & renewable technology sector.

The new additions are:

  • Brian Sapp, who recently joined as a managing director and will be responsible for the origination and execution of loans to venture capital-backed companies in the growing energy technology sector across all stages of growth;
  • Micah Merrick, as a principal, who spent the last ten years identifying and establishing long-term development partnerships with entrepreneurial companies focused on sustainable development, energy efficiency and renewable technologies; and,
  • Catherine Jhung, as a principal, who previously was vice president of business development with the CleanTech Group.

These new investment professionals will further augment the current energy & renewable technology team, which includes: Manuel A. Henriquez, co-founder, chairman, and chief executive officer of Hercules Technology Growth Capital; Tony Pandjiris, managing director; Sebastian Dominguez, associate; and, Lisa Wehmeier, associate. The Hercules energy & renewable technology team has been investing in this sector since the Company’s inception in 2003.

“Energy and renewable technology continues to be an important focus for Hercules,” Henriquez said. “We have many years of experience working with energy technology companies and I am delighted to welcome our three newest investment professionals of Brian’s, Micah’s and Catherine’s caliber to the Hercules team. They will serve to bolster our position in the energy sector and expand our market reach and knowledge further into this important and growing sector. We look forward to providing growth capital to many of these innovative and disruptive energy technology companies by offering highly customized financing solutions to meet their growing needs.”

Henriquez continued, “We view this sector as so much broader than simply solar and wind power, and see it encompassing a wide number of technologies that impact our daily lives. These technologies include energy efficiency, water reclamation in industrial process, different ways to approach agriculture and even rethinking the way we commute. We believe Brian and his team will over the next few quarters contribute to Hercules growth through their sophisticated and systematic approach to this market and to the companies which they work with.”

Sapp has more than 16 years of experience in finance working with venture capital, start-ups and public companies as an investment banker, and has been focused on the energy technology space since 2004. Prior to joining Hercules, Sapp was a director in Robert W. Baird & Co.’s investment banking group where he originated and executed private and public equity and debt capital raises and advised on M&A transactions in the energy technology space. Before that, Sapp held senior banking positions at Wedbush Securities, Thomas Weisel Partners and SVB Alliant in their energy technology and technology groups. Sapp began his career as an environmental process engineer with TE Connectivity. Sapp holds an MBA from Cornell University Graduate School of Management and a bachelor’s degree in chemical engineering from Pennsylvania State University.

“I am thrilled to be joining Hercules and being able to have access to one of the largest pools of capital dedicated to financing venture-backed energy technology and renewables companies,” said Sapp. “The opportunity to work for a firm with this deep an understanding of an industry I have been passionate about my entire career was extremely compelling. Micah, Catherine and I are eager to support promising companies that will benefit from the addition of venture debt to their financing mix.”

About Hercules Technology Growth Capital, Inc.:

Hercules Technology Growth Capital, Inc. (NYSE:HTGC) (“Hercules”) is the leading specialty finance company focused on providing senior secured loans to venture capital-backed companies in technology-related markets, including technology, biotechnology, life science, and energy & renewable technology industries, at all stages of development. Since inception (December 2003), Hercules has committed more than $4.2 billion to over 270 companies and is the lender of choice for entrepreneurs and venture capital firms seeking growth capital financing.

Hercules’ common stock trades on the New York Stock Exchange (NYSE) under the ticker symbol “HTGC.”

In addition, Hercules has three outstanding bond issuances of 7.00% Senior Notes due April 2019, 7.00% Senior Notes due September 2019, and 6.25% Senior Notes due July 2024, which trade on the NYSE under the symbols “HTGZ”, “HTGY,” and “HTGX,” respectively.

Companies interested in learning more about financing opportunities should contact [email protected], or call 650.289.3060.

Forward-Looking Statements:

The information disclosed in this release is made as of the date hereof and reflects Hercules’ most current assessment of its historical financial performance. Actual financial results filed with the Securities and Exchange Commission may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors we identify from time to time in our filings with the Securities and Exchange Commission. Although we believe that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Hercules assumes no obligation to update the forward-looking statements for subsequent events.

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