DETROIT, June 8, 2017 /PRNewswire/ -- Achates Power, Inc. today was named a Michigan Economic Bright Spot for 2017 by Corp! Magazine, a Michigan business publication. The Economic Bright Spot award is presented annually to Michigan companies who have exhibited economic growth and expansion throughout the year. Achates Power is a developer of radically improved internal combustion engines that increase fuel efficiency, reduce greenhouse gas emissions and cost less than conventional engines.
Achates Power was recognized for its accelerated growth since opening the company's second office in 2015, located in Metro Detroit. The company has seen overall financial growth of 157 percent from 2015 to 2016, and has quickly filled their local office space faster than the anticipated three-year time frame.
"There are enormous growth opportunities in Michigan for Achates Power, the recognition from Corp! Magazine as a Michigan Economic Bright Spot is just the beginning," said David Johnson, CEO and president of Achates Power, Inc. "We anticipate our strong growth trend to continue as engine manufacturers continue to look at how to meet future emissions regulations."
Corp! Magazine has been celebrating Michigan companies that continue to progress in economic growth, expansion and talent attraction for the past 10 years. This year's Corp! award winners were honored at a luncheon today at the International Banquet Center in Detroit.
About Achates Power, Inc.
Achates Power, Inc. was founded in 2004 with the mission to build cleaner, more efficient engines. The San Diego-based company has an experienced staff of engineers and scientists focused on applying their proven technical know-how and expertise, coupled with the industry's leading-edge testing, simulation and analysis tools. It is backed by top private equity firms Sequoia Capital Partners, RockPort Capital Partners, Madrone Capital Partners, InterWest Partners and Triangle Peak Partners. For more information, visit www.achatespower.com.
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SOURCE Achates Power, Inc.