Friday, January 8, 2010

Achates Power Raises $19.2M

San Diego-based Achates Power, which is developing 4-cylinder, piston engine technology, said late Friday that it has raised $19.2M in a Series B funding round. The funding came from Triangle Peak Partners, Sequoia Capital, Rockport Capital Partners, Madrone Capital Partners, and InterWest Partners. As part of the funding, Dain DeGroff of Triangle Peak partners joins the firm's board. The firm says its engines provide better fuel efficiency and power density than conventional engine technology. More information »