Achates Power Gets More Investment
San Diego-based Achates Power has raised $12.1M in a $20M funding round. The startup's include Sequoia Capital, Madrone Capital Partners, Rockport Capital Partners, and InterWest Partners. Achates had raised $35M.
It is developing a diesel engine technology that promises a 50% improvement in fuel economy at a cost hike of 30% of current diesel models. For you gear heads out there, know that fuel efficiency gains are achieved, in part, because the two-stroke engine lacks a cylinder head, an engine component that loses 8% of energy as heat. Rather, there are two pistons, which offer 2x the power density, in the engine, which is lighter and smaller than its competition.
Achates has in interesting financial model - it plans to license its technology to engine manufacturers and vehicle makers for $50M, plus a 5% royalty per unit.
Achates has a couple of other startup competitors including EcoMotors and Transonic Combustion
The Rest @ The Alarm Clock
It is developing a diesel engine technology that promises a 50% improvement in fuel economy at a cost hike of 30% of current diesel models. For you gear heads out there, know that fuel efficiency gains are achieved, in part, because the two-stroke engine lacks a cylinder head, an engine component that loses 8% of energy as heat. Rather, there are two pistons, which offer 2x the power density, in the engine, which is lighter and smaller than its competition.
Achates has in interesting financial model - it plans to license its technology to engine manufacturers and vehicle makers for $50M, plus a 5% royalty per unit.
Achates has a couple of other startup competitors including EcoMotors and Transonic Combustion
The Rest @ The Alarm Clock
Comments
Post a Comment