Wednesday, November 1, 2017

Achates Power Raises $29.8M For More Efficient Engines

San Diego-based Achates Power, a startup which is developing more efficient, internal combustion engines, has raised $29.8M in its Series D funding, according to the company. The funding was led by OGCI Climate Investment. The company's prior investors include Sequoia Capital Partners, RockPort Capital Partners, Madrone Capital Partners, InterWest Partners and Triangle Peak Partners. OGCI Climate Investment is a consortium of ten oil and gas companies, which says its aim is to show "show sector leadership in the response to climate change", and who have committed to invest $1 billion over ten years to support startups and others in the area of reducing greenhouse gas. Achates Power says it has now raised $136M in total for its efforts. More information »