The story
2004: Company founded by James Lemke with investment from the late John Walton, son of Sam Walton, the founder of Wal-Mart Stores, Inc.
2005: Engine testing begins at the company's in-house test cell
2007: Series A venture capital round led by Sequoia Capital with investments from RockPort Capital Partners, Madrone Capital Partners and InterWest Partners; company receives DARPA contract to design lightweight, compact UAV engine
2008: 500 hours of testing completed
2009: Second company test cell commissioned; Series B venture capital round led with new investor, Triangle Peak Partners
2010: Engine passes NATO 50-hour cyclic durability test; over 1,000 hours of testing completed; additional test stand added to company facility
2011: Over 2,500 hours of testing completed
2012: First firing of the company's A48 opposed-piston, double crank, spur gear train engine; company surpasses 3,600 hours of total test time; along with AVL Powertrain Engineering, Inc., Achates Power is selected by the U.S. Army to develop next-generation combat engine
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2013: Achates Power selected for Frost & Sullivan 2013 North American New Product Innovation Award in the medium- and heavy-duty commercial vehicle engine market; company exceeds 4,500 hours of total test time; company named first runner-up in Securing America's Future Energy (SAFE) “Energy Security Prize”; Fairbanks Morse Engine signs joint development and licensing agreement with Achates Power
2014: Achates Power engine surpasses 5,000 hours of dynamometer testing; company releases results of light-duty diesel engine study comparing its engine to a next-generation diesel engine benchmark
2015: The company is awarded a $14 million military contract by the U.S. Army Tank Automotive Research, Development and Engineering Center to help in the development of the Army's "future fighting vehicle"
From Wikipedia’s article on Achates Power, shared under CC BY-SA 4.0.3