Achates Power Closes Round at $19.2M

Bruce V. Bigelow1/8/10

San Diego cleantech startup Achates Power said late today it has completed a $19.2 million Series B round of venture funding that brought a new investor into its fold: Triangle Peak Partners, which has offices in Carmel, CA, Houston, and Palo Alto, CA. The funding appears to complete a round we noted in October. With funding from Triangle Peak and existing investors Sequoia Capital Partners, Rockport Capital Partners, Madrone Capital Partners, and InterWest Partners, Achates is developing a radical new design for a high-efficiency two-stroke automotive engine.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788