Hercules Technology Provides $4 Million of Venture Debt to Shocking Technologies, Inc., a Developer of Voltage Switchable Dielectric Materials

PALO ALTO, Calif.--(BUSINESS WIRE)--

Hercules Technology Growth Capital, Inc. (NASDAQ: HTGC), the premier specialty finance company providing venture debt and equity to venture capital and private equity backed technology and life science companies at all stages of development, today announced that it provided $4 million in debt financing to Shocking Technologies, Inc., on December 20, 2007. The privately-held company is developing various applications for its patented voltage switchable dielectric material technology.

Whereas discrete devices, such as surge protectors, have commonly protected electronic and mobile devices from electrostatic discharge (ESD), Shocking Technologies has developed a polymer voltage switch dielectric material. The polymer, less than 25 microns thick, is embedded into Printed Circuit Boards (PCBs) and semiconductor chip packages to protect the device from ESD damage.

"Shocking Technologies has created a revolutionary technology that offers several competitive advantages over current discrete devices used, including increased reliability with reduced cost, size and time to market," said Brandt Roberts, of Hercules. "In addition, Shocking Technologies made an attractive funding candidate due to the significant market opportunity. Nearly every cell phone, computer and electronic device could utilize Shocking Technologies' polymer material."

Shocking Technologies is an early stage company based in San Jose, Calif. The company's CEO, Lex Kosowsky, has more than 25 years of experience in the microelectronics industry.

"We have developed this unique technology in order to address unmet needs and market demands in the semiconductor and electronics spaces," said Kosowsky. "Hercules' debt financing will be used for continued development of the polymer technology itself as well as moving forward with its deployment for various applications, including ESD protection of semiconductor chips, PCBs, Led's, displays and other electronic products."

Shocking Technologies is backed by several leading venture capital firms, including Arch Venture Partners and ATA Ventures.

About Hercules Technology Growth Capital, Inc.:

Hercules Technology Growth Capital, Inc. is a NASDAQ traded specialty finance company providing debt and equity growth capital to technology and life science companies at all stages of development. Founded in December 2003, the company primarily finances privately held companies backed by leading venture capital and private equity firms. Hercules invests in a broad range of ventures active in technology and life science industries and offers a full suite of growth capital products up and down the capital structure. The company is headquartered in Palo Alto, Calif. and has additional offices in the Boston, Boulder, Los Angeles and Chicago areas. Providing capital to publicly-traded or privately-held companies backed by leading venture capital and private equity firms involves a high degree of credit risk and may result in potential losses of capital. For more information, please visit www.HTGC.com.

Companies interested in learning more about financing opportunities should contact info@HTGC.com, or call 650.289.3060.

About Shocking Technologies, Inc.:

Shocking Technologies, founded in 2006, is based in San Jose, California, and is a leader in the area of voltage switchable dielectrics for diverse applications. Shocking is venture capital backed by ARCH Venture Partners and ATA Ventures. For more information, please visit www.shockingtech.com.

Forward-Looking Statements:

The statements contained in this release that are not purely historical are forward-looking statements. 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 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 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.

Source: Hercules Technology Growth Capital, Inc.

Released January 10, 2008