OXE Diesel News

OXE Marine kicks off Q1 with new commercial model

Oxe Marine, the company behind the industry’s first diesel outboard engine, reported consolidated results for a reduced first quarter from 16 February to 31 March 2022, following completion of a transaction acquiring US companies, Diesel Outboards and Outdoor Network Manufacturing, in exchange for shares in the combined business. Consolidated sales – including OXE Marine AB of Sweden, US-based OXE Marine Inc and OXE Marine Manufacturing – amounted to SEK 31.4 million during the six-week period, with SEK 26m attributable to sales of propulsion units, and the remainder coming from parts and accessories.

Report From the Annual General Meeting in Oxe Marine Ab (Publ) On 2 May 2022

The income statement and balance sheet for 2021 were adopted. The meeting resolved not to pay out dividends for the financial year 2021. The board of directors and the CEO were discharged from liability for the financial year 2021. Re-election of board members Jonas Wikström, Martin Polo, Jon Lind, Magnus Folin and Mikael Mellberg and election of Christian von Koenigsegg as new member of the board. Jonas Wikström was appointed as chairman of the board.

OXE Marine AB (publ) Interim report 1 January to 31 Mars 2022

Results presented in the interim report from Q1 2022 are consolidated from 16 February 2022 to 31 March 2022following the completion of the acquisition of Diesel Outboards and Outdoor Network Manufacturing on 16 February 2022. Consolidated results include legal entities; OXE Marine AB (Sweden), OXE Marine INC (US) and OXE Marine Manufacturing INC (US). Furthermore, consolidated results do not have comparative figures as it is the first year of preparing consolidated financials. Where illustrated in the text, graphs and tables, prior year figures relate to OXE Marine AB only.

Proteum supplies OXE 300 to Commercial RIB Charter for new amphibious offshore support vessel

Proteum is supplying twin 300hp OXE Diesel outboards to Commercial RIB Charter (CRC) for a fully amphibious vessel for support in offshore windfarm operations designed by Chartwell Marine and being built by Diverse Marine. OXE 300hp Diesel outboards were chosen for their robust design and ability for the operator to shift quickly from forward to astern without damaging the commercially rated gearbox.  They also provide increased range and market leading fuel economy.

OXE MARINE AB (PUBL) CONVENING NOTICE FOR ANNUAL GENERAL MEETING

The board of directors has resolved, in accordance with the act (2022:121) on temporary exceptions to facilitate the execution of general meetings in companies and other associations, that the annual general meeting shall be held without the physical presence of shareholders, proxies or any third parties, and that the shareholders' voting rights may only be exercised in advance by postal voting.

OXE Marine AB (publ) announces outcome of incentive program 2022/2025

In accordance with the resolution by the extraordinary general meeting in OXE Marine AB (publ) (the "Company") on 16 February 2022, the Company has issued 1,856,492 qualified employee stock options in the new incentive program 2022/2025 and has subscribed for the corresponding number of warrants of series 2022/2015 issued to secure the Company's delivery of shares in the program. The options have been issued at a price of SEK 0.03 per option and can be used to subscribe for shares during a subscription period of 1 month falling 36 months after acquisition of the employee stock options. The board of directors is entitled to prolong the subscription period with up to 8 months (corresponding to a total subscription period of up to 9 months) if a participant is continuously prohibited from exercising the employee stock options for subscription of new shares.

OXE 300 Dare to be different

OXE300 is the latest outboard in the OXE Diesel series. Born from a demand for even more power, torque and range, the OXE300 does not compromise on either reliability or control.  With a bi-turbo diesel engine from BMW, 680Nm of crankshaft torque is provided already at 1750rmp. Already at 1000rpm, the engine provides over 500Nm at the crankshaft. At the propeller shaft, the torque numbers translate to 945Nm (696ft-lb). This means that you, at your fingertips, have not only massive bollard pull power, but also fast hole shot acceleration. OXE Diesel outboards are built for demanding users, for those who require high durability and serviceability, while also providing maximal range and massive torque.

OXE sets eyes firmly on recreational market with diesel outboard

When OXE Marine, the Swedish builder of diesel outboards was founded in 2012 its goal was fairly simple, in principle; build a durable, safe and reliable high-performance diesel outboard largely for commercial and military applications. What no one foresaw was expanding the product into the recreational boating arena. But with the introduction of its 300hp model in May of 2020 - that uses a marinised bi-turbo automotive configuration powerhead from BMW -and impressive performance statistics that include 46% less fuel consumption than comparable gas models at a similar weight and extending the operational range by nearly 90%, a new and unexpected market emerged, driven by consumers.

The OXE300 provides significantly more torque and reduced emissions, fuel consumption and operational costs compared to gasoline-fueled outboards. OXE300 consumes up to 46% less fuel compared to a 300hp gasoline outboard

Carbon dioxide is reduced by more than 35% (when biofuels are used net Carbon dioxide is reduced by up to 94,2%), carbon monoxide by more than 99%, and combined hydrocarbons and nitrogen oxides by more than 70%. This reduction significantly contributes to a reduced environmental impact. Reduced fuel consumption combined with reduced drag extends the operational range by 87%.

OXE Marine AB (publ) Interim report 1 October to 31 December 2021

Fourth quarter 2021
  • Net turnover amounted to SEK 41.8 m (SEK 4.8 m), an increase of 770% from the comparative period of the prior year.
  • Gross Profit amounted to SEK 9.7 m (SEK 1.1 m) with a gross margin of 23% (23%).
  • EBITDA amounted to SEK -9.0 m (SEK -17.7 m)
  • Operating Loss/EBIT amounted to SEK -15.3 m (SEK -22.2 m).
  • The result for the quarter amounted to SEK -17.7 m (SEK -24.4 m).
  • Cash flow from operating activities improved by SEK 21.3 m for the quarter and amounted to SEK -6.4 m (SEK -27.7 m).