Successful production start of OXE300 in Poland

Rhea-AI Summary

OXE Marine AB has successfully advanced the production setup for the OXE300 in Tczew, Poland, aiming to start production in Q1 2021. The assembly of three initial units has been completed, with two additional units expected soon. The first shipment is planned for the last week of February, with units undergoing rigorous testing in Sweden to meet high standards. This development follows several years of engineering advances in creating the world’s first high-power diesel outboard engine.

Positive

• First three units of OXE300 assembled and ready for shipment.
• Production setup aligns with previously communicated timelines.
• Initial shipment expected by the end of February.

Negative

• None.

STOCKHOLM, Feb. 10, 2021 /PRNewswire/ -- The development of the production set up for the OXE300 advances according to plan, well in line with the previously communicated goal to start production of OXE300 in Tczew (Poland) under the first quarter this year. Assembly of the first three units has recently been finalized and are waiting to be shipped out. Two more units are expected to be finalized before this weeks end. OXE Marine AB (NASDAQ STO: OXE) (OTCQB: CMMCF) personnel are on site to align the production process with OXE technical requirements.

The initial 20 production units from the assembly in Poland will be sent to OXE Marine AB test facility in Ängelholm (Sweden), where they will undergo rigorous testing, both in test tank and on our test boats on the water to ensure that stringent demands on endurance, reliability, power and control are met.

First shipment of OXE300 produced in Poland is expected to be sent to customers in the last week of February.   

Certified Adviser

FNCA Sweden AB is Certified Adviser for OXE Marine AB (publ). Contact details to FNCA Sweden AB: tel. +46 8 528 00 399, e-mail info@fnca.se.

For further information, please contact:

Myron Mahendra, CEO, myron.mahendra@oxemarine.com, +46 76 347 59 82

Anders Berg, Chairman, anders.berg@oxemarine.com, +46 70 358 91 55

OXE Marine AB (publ) (NASDAQ STO: OXE, OTCQX: CMMCF) has, after several years of development, constructed the OXE Diesel, the world's first diesel outboard engine in the high-power segment. The Company's unique patented engine-to-propulsion power transmission solutions have led to high demand for the Company's engines worldwide.

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SOURCE OXE Marine AB

FAQ

What is the OXE300 production status?

Production of the OXE300 is advancing as planned, with initial units ready for shipment.

When will the first shipment of OXE300 occur?

The first shipment of the OXE300 is expected to be sent to customers in the last week of February 2021.

Where is the OXE300 manufactured?

The OXE300 is being manufactured in Tczew, Poland.

What is OXE Marine AB's ticker symbol?

The stock ticker symbol for OXE Marine AB is CMMCF on OTCQB.

What is unique about the OXE Diesel engine?

The OXE Diesel is the world's first diesel outboard engine in the high-power segment, developed over several years.