What is Achates Power?
Achates Power is a specialized engineering firm focused on the development and licensing of advanced opposed-piston engine technology. By eliminating the cylinder head and utilizing a two-stroke cycle, the company delivers significant improvements in thermal efficiency and emissions reduction compared to conventional engine architectures. Their market position is defined by a collaborative licensing model, where they partner with global engine manufacturers to integrate these high-performance, cost-effective power solutions into passenger, commercial, and military vehicle platforms. As the transportation industry faces mounting pressure to decarbonize, Achates Power serves as a vital technical partner for OEMs seeking to optimize legacy power systems while transitioning toward sustainable energy mandates.
How much funding has Achates Power raised?
Achates Power has raised a total of $107.5M across 5 funding rounds:
Series A
$12.1M
Series B
$19.2M
Series C
$35.2M
Private Equity
$11.2M
Series D
$29.8M
Series A (2009): $12.1M with participation from InterWest Partners, Steamboat Ventures, and RockPort Capital Partners
Series B (2010): $19.2M led by Madrone Capital Partners, InterWest Partners, Sequoia Capital Partners, RockPort Capital Partners, and Triangle Peak Partners, LP
Series C (2013): $35.2M supported by InterWest Partners, Steamboat Ventures, RockPort Capital Partners, and Triangle Peak Partners
Private Equity (2014): $11.2M featuring RockPort Capital Partners
Series D (2017): $29.8M, investors not publicly disclosed
Key Investors in Achates Power
Sequoia Capital Partners
A globally recognized venture capital firm with an unparalleled track record of partnering with entrepreneurs to build market-leading companies across the technology and energy sectors.
Triangle Peak Partners
A multi-strategy asset management firm that focuses on growth-stage investments within the technology, clean-tech, and energy industries.
Steamboat Ventures
An investment firm dedicated to nurturing early-to-growth stage companies in the media and technology sectors to help them achieve market leadership.
What's next for Achates Power?
With the support of its institutional backers, Achates Power is entering a pivotal phase of market penetration and technology deployment. The strategic focus remains on scaling the adoption of its engine designs across diverse sectors, including off-road power generation and heavy-duty logistics. Future growth will likely be driven by the expansion of its licensing portfolio and the continued refinement of its development tools, which enable manufacturers to achieve compliance without sacrificing performance. As the firm matures, the emphasis will shift from R&D-heavy innovation to broad-scale industrial implementation, solidifying its role as a key architect of the next generation of clean-propulsion systems.
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