OXE Diesel News

New OXE Marine CEO reports on his 1st quarter at the helm

Diesel outboard engine manufacturer OXE Marine reported an increase of 20% in net sales for its third quarter ending September 30, compared to the previous quarter, with continued improvement of gross profit and gross margin of 28% for the quarter. The company said sales growth over the period was driven by stronger supply of the OXE300 in combination with record sales of Parts & Accessories, indicating a continued increase of operative OXE engines.

Setting new standards for operational range and outboard emissions

The OXE Diesel engine reduces fuel consumption by more than 42% compared to a modern gasoline outboard of equivalent horsepower, setting new standards for internal combustion engines within the global outboard industry. On top of this, by using the sustainable fuel option Biodiesel – which is compliant with all OXE Marine products – you can further reduce your net carbon footprint by up to 90%. In addition, HVO and Biodiesel fuels reduce net carbon dioxide by up to 94% or up to 257,082Kg/1000hrs of operation. This reduction significantly contributes to a reduced environmental impact, while increasing the operational range for users by 60%.

OXE Marine AB (publ) carries out a directed share issue of MSEK 22.75

The board of directors of OXE Marine AB (publ) (“OXE Marine” or the “Company”) has today, as authorized by the annual general meeting on 16 April 2021, resolved to increase the Company’s share capital by way of a directed issue of 10,435,777 shares to a smaller group of existing investors, including industrial investor Koenigsegg. The shares are issued at a subscription price of SEK 2.18 per share, which corresponds to the volume weighted average price for the Company’s share on Nasdaq First North Growth Market during the period from 3 September 2021 to 16 September 2021, and will raise MSEK 22.75 for the Company.

OXE Marine boosts margin with higher OXE300 sales

The outboard engine manufacturer continues to assess use of BMW’s 4-cylinder two litre turbo diesel engine for marine application Swedish diesel outboard engine producer OXE Marine has issued its latest interim report for its second quarter ending June 30, with the boating boom around much of the globe beginning to register in the results.

Diesel outboards on the Atchafalaya River

Back in March, David LeBlanc, regional sales director for Diesel Outboards, invited me aboard the 42'x13' multipurpose workboat Miss Ida, part of TK Boat Rentals’ fleet, to check out the performance of the twin Oxe 200-hp diesel outboards hanging from the boat’s stern. It was the end of April before we could get our schedules to mesh, and we made plans for a ride along. It happened that three people from Diversified Communications, our main/Maine office in Portland, were scheduled to come down for the Offshore Marine Service Association (OMSA) golf tournament on May 1. So, I suggested that we schedule the ride along for that week, if possible. Well, LeBlanc made it happen.

Proteum Power In Partnership Webinar

The Proteum Power In Partnership Webinar explores all the great benefits attributed to running an OXE diesel outboard without the expense of owning an OXE.

Magnus Grönborg to start as CEO of OXE Marine AB (publ) on 1 July 2021

STOCKHOLM, May 10, 2021 /PRNewswire/ --As previously communicated, Magnus Grönborg has been appointed CEO of OXE Marine AB (publ). He will assume the position on 1 July 2021. Magnus Grönborg will succeed Myron Mahendra who will assume the position of EVP Business Development, Sales and Marketing.

OXE Marine AB (publ) Interim report 1 January to 31 Mars 2021

First quarter 2021 Net Turnover of SEK 10.1 m (SEK 10.3 m) Gross Profit of SEK 2.7 m (SEK 2.4 m) or gross margin of 27% (23%) Operating Loss/EBIT of SEK -21.5 m (SEK -17.6 m) Net loss for the period of SEK -23.8 m (SEK -19.6 m) Order Book amounted to SEK 140.9 m (SEK 139.3 m as at end of Q4 2020) Significant events during the First quarter OXE125-200 model year 2021 granted approval by EPA. Start of assembly of OXE125-200 initiated by ONM in Albany (GA, USA). The board of directors resolved to appoint Magnus Grönborg as CEO and to reorganize its management team by appointing the current CEO Myron Mahendra as EVP Business Development, Sales and Marketing. In addition, the Chairman of the board Anders Berg will increase his operational focus on the company by assuming a supportive operational role with the management team. Magnus Grönborg will replace Myron Mahendra as CEO in a few months, with the closer date yet to be agreed. First units of OXE300 assembled and shipped from PanLink's Polish site in Tczew.

WHISKEY ALPHA 85 & OXE DIESEL OUTBOARD

IT DOESN’T GET MUCH MORE “MISSION CRITICAL” AT SEA THAN WHAT TACTICAL WATERCRAFT NEED TO DO. WITH NEW OXE DIESEL OUTBOARDS ONBOARD, THE GAME-CHANGING WHISKEY ALPHA 8.5 DEVELOPED BY TWO AUSTRALIAN EX-SERVICEMEN LOOKS SET TO NOT ONLY STORM THE MARKET FOR SUCH CRAFT, BUT PROVIDE VERSATILITY AND SAFETY BEYOND ANYTHING IN THE WORLD.

OXE Marine AB publishes annual report for 2020

OXE Marine AB ("The Company") announced the following significant events during the year: The company name changed from Cimco Marine AB (publ) to OXE Marine AB (publ) The company received EUR 4 m in funding, relating to Tranche B of the EIB facility. PanLink in Tczew, Poland selected as the production partner for the OXE300 and Outdoor Network Manufacturing in Albany, USA selected as the new manufacturing partner for the 125hp to 200hp series. Following the successful collaboration with the BMW Group of marinizing their 3 liter, 6 cylinder bi-turbo engine for use in the OXE300s, OXE Marine AB and BMW agreed to co-brand the OXE300.