Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  PALETTE DONALD W
 2. Date of Event Requiring Statement (Month/Day/Year)
01/10/2005		 3. Issuer Name and Ticker or Trading Symbol
AXCELIS TECHNOLOGIES INC [ACLS]
(Last)
(First)
(Middle)
C/O AXCELIS TECHNOLOGIES, INC., 108 CHERRY HILL DRIVE		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President, Finance
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

BEVERLY, MA 01915		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Right to Buy (Stock Option) 01/25/2003 01/25/2010 Common Stock 8,470 $ 8.44 D  
Right to Buy (Stock Option) 07/10/2004 07/10/2010 Common Stock 5,625 $ 22 D  
Right to Buy (Stock Option) 07/30/2005(1) 07/30/2011 Common Stock 7,500 $ 14.1 D  
Right to Buy (Stock Option) 07/30/2005(2) 07/30/2011 Common Stock 7,500 $ 13.2 D  
Right to Buy (Stock Option) 06/21/2006(3) 06/21/2012 Common Stock 5,500 $ 10.28 D  
Right to Buy (Stock Option) 06/21/2006(4) 06/21/2012 Common Stock 5,500 $ 5.85 D  
Right to Buy (Stock Option) 03/27/2007(5) 03/27/2013 Common Stock 20,000 $ 5.24 D  
Right to Buy (Stock Option) 05/01/2007(6) 05/01/2013 Common Stock 8,000 $ 5.7 D  
Right to Buy (Stock Option) 05/01/2007(7) 05/01/2013 Common Stock 8,000 $ 11.48 D  
Right to Buy (Stock Option) 06/25/2008(8) 06/25/2014 Common Stock 15,000 $ 11.87 D  
Right to Buy (Stock Option) 06/25/2008(9) 06/25/2014 Common Stock 15,000 $ 7.97 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
PALETTE DONALD W
C/O AXCELIS TECHNOLOGIES, INC.
108 CHERRY HILL DRIVE
BEVERLY, MA 01915		       Vice President, Finance  

Signatures

Lynnette C. Fallon, as attorney-in-fact 01/19/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Exercisable as to 25% of the shares on each of 7/30/2002, 7/30/2003, 7/30/2004 and 7/30/2005.
(2) Exercisable as to 25% of the shares on each of 7/30/2002, 7/30/2003, 7/30/2004 and 7/30/2005.
(3) Exercisable as to 25% of the shares on 6/21/2003, 6/21/2004, 6/21/2005 and 6/21/2006.
(4) Exercisable as to 25% of the shares on 6/21/2003, 6/21/2004, 6/21/2005 and 6/21/2006.
(5) Exercisable as to 25% of the total shares on each of 3/27/2004, 3/27/2005, 3/27/2006 and 3/27/2007.
(6) Exercisable as to 25% of the total shares on each of 5/01/2004, 5/01/2005, 5/01/2006 and 5/01/2007.
(7) Exercisable as to 25% of the total shares on each of 5/01/2004, 5/01/2005, 5/01/2006 and 5/01/2007.
(8) Exercisable as to 25% of the total shares on each of 6/25/2005, 6/25/2006, 6/25/2007 and 6/25/2008.
(9) Exercisable as to 25% of the total shares on each of 6/25/2005, 6/25/2006, 6/25/2007 and 6/25/2008.

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