OXE MARINE RECEIVES THE LARGEST ORDER IN THE COMPANY’S HISTORY OF USD 6.6 MILLION TO SUPPLY A UNITED STATES GOVERNMENTAL AGENCY
OXE Marine Inc (US), a subsidiary of OXE Marine AB (publ), has received an order totaling USD 6.6m, to supply a United States Governmental Agency, (the “Agency”). The scope of supply of the order includes OXE diesel outboard engines, rigging accessories, services kits and OXE’s trademarked containerized lifecycle support system, C-CRES. The order is planned for delivery during 2025 and 2026 with the majority expected to be delivered in 2025. The order was placed by a private contractor in the United States and includes a 20% deposit (approximately USD 1.3m) to be paid to OXE Marine.
“We are excited to be selected again as the supplier to a US governmental customer and further shows our growth in this segment. The OXE outboard is well positioned to bring the benefits of performance, fuel efficiency and the logistical and safety benefits around running diesel in fleet operations. More and more government customers are considering OXE as a viable option to build new or repower their fleets.” says Jeremy Davis, CCO and US Executive Vice President of OXE Marine INC.
“This is the largest single order ever received in OXE’s history and has a significant impact on our company as it demonstrates the company’s ability to enter into larger projects. As we have now completed the refinancing of our company, we are in a much stronger financial position to be able to manage larger orders. Orders of this size also help with bringing efficiencies into our supply chain and production. We are honored to be selected as the propulsion supplier of choice and this shows OXE’s continued momentum as a supplier to governmental customers in the marine segment.” says Paul Frick, CEO of OXE Marine AB.
For more information, please contact:
Paul Frick, CEO, OXE Marine AB, paul.frick@oxemarine.com, +46 70 325 06 20
Jonas Wikström, Chairman, OXE Marine AB, jonas.wikstrom@oxemarine.com, +46 70 753 65 66
OXE Marine AB (publ) (NASDAQ STO: OXE) is the company behind the world’s first high performance diesel outboard. The company’s unique and patented solutions for high torque transmission between powerhead and lower leg has led to a global high demand for the company’s outboards. Enabling improved performance and fuel efficiency in an outboard, OXE Marine redefines possibilities in the marine sector.
FNCA Sweden AB is the Certified Adviser for OXE Marine AB (publ).