Achates Power Wins $14 Million Military Engine Project

SAN DIEGO, March 31, 2015 /PRNewswire/ -- Achates Power, Inc., the developer of radically improved internal combustion engines that increase fuel efficiency, reduce greenhouse gas emissions and cost less than conventional engines, today announced it has been awarded a $14 million project by the National Advanced Mobility Consortium to support research and development work of the U.S. Army Tank Automotive Research, Development and Engineering Center (TARDEC). The project is the Single Cylinder Advanced Combat Engine Technology Demonstrator, part of the Army's 30 year strategy to modernize tactical and combat vehicles.

"This award builds upon 10 years of extensive development by Achates Power to modernize and optimize the opposed-piston engine," said David Johnson, CEO, Achates Power. "With Cummins as our partner on the Single Cylinder Advanced Combat Engine Technology Demonstrator program, we have the opportunity to combine Cummins' strengths in diesel engine leadership with our strengths in opposed-piston engine technology to deliver a superior engine for combat and tactical vehicles for the U.S. Army."

Achates has partnered with Cummins Inc. (NYSE: CMI) for this new chapter of modernizing the Army's combat vehicles. Together, their technologies will be used to further refine the opposed-piston engine for lower heat rejection, greater fuel efficiency, increased power density and the ability to operate on various fuels. The end goal is to deliver a product that improves the mobility and performance of combat vehicles.

"Achates Power has realized the potential for impressive efficiency in their development of the opposed piston architecture. We have worked with Achates Power for a number of years now and applaud their engineers and engineering rigor, and we look forward to continuing our collaboration," said Dr. John Wall, chief technical officer, Cummins Inc. "This contract acknowledges the U.S. Army recognizes the special value of this engine design in their application and Achates Power's ability to optimize it."

In order to create a technology foundation for the Future Fighting Vehicle, the U.S. Army has been focused on the development of a modular and scalable advanced combat engine capable of very low heat rejection, increased fuel economy, excellent durability, and outstanding overall propulsion system power and density.

When speaking about the Single Cylinder Advanced Combat Engine Technology Demonstrator, professor of Mechanical Engineering at Wayne State University College of Engineering, Dr. Walter Bryzik, notes, "Three features are critically important for combat vehicles: low heat rejection to coolant, high power density, and high efficiency. The opposed-piston engine architecture – particularly with the advances from Achates Power – has strengths in all three areas."

With this new contract, Achates has six concurrent customers whose contracts encompass five different engine applications: passenger vehicle, light commercial vehicle, heavy commercial vehicle, military and marine/stationary power. Achates Power's engine allows OEMs to achieve the world's most stringent current and future fuel efficiency and emissions standards, which include EPA 2010, Euro 6 and Tier 3/LEV 3, among others, without additional cost or complexity.

About Achates Power, Inc.
Achates Power, Inc. has developed radically improved internal combustion engines that increase fuel efficiency, reduce greenhouse gas emissions and are lower cost. 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, www.facebook.com/AchatesPowerInc, www.twitter.com/achatespower and www.youtube.com/achatespowerinc.

About Cummins Inc.
Cummins Inc., a global power leader, is a corporation of complementary business units that design, manufacture, distribute and service diesel and natural gas engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins currently employs approximately 54,600 people worldwide and serves customers in approximately 190 countries and territories through a network of approximately 600 company-owned and independent distributor locations and approximately 7,200 dealer locations. Cummins earned $1.65 billion on sales of $19.2 billion in 2014. Press releases can be found on the Web at www.cummins.com. Follow Cummins on Twitter at @Cummins and on YouTube at Cummins Inc.

SOURCE Achates Power

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