OXE - OXE STOCK NEWS

OXE Marine AB (OTC-PINK:CMMCF) has launched the OXE Diesel Product Configurator, a tool enabling customers to customize their outboard motors according to personal specifications. The configurator provides a user-friendly interface for selecting various features such as power output and shaft length, with real-time pricing and information on fuel savings and emissions. Sales Director Jeremy Davis emphasized the configurator's potential to meet diverse customer needs, from commercial to recreational use. This innovation is now available on the OXE Marine website, allowing users to save and modify their configurations as needed. OXE Marine continues to position itself as a leader in high-performance diesel outboards, responding to the growing global demand for customized marine solutions.

OXE Marine AB has published its annual report for 2022, highlighting significant developments in the marine diesel outboard market. The company, formed in 2012, has pioneered the OXE Diesel, the world's first high-power diesel outboard engine, offering superior fuel efficiency compared to traditional gasoline engines. The demand for OXE Diesel is bolstered by directives such as NATO's Single Fuel policy, promoting diesel use. Key events include the acquisition of Diesel Outboards, a SEK 70 million directed share issue, and amendments to bond terms extending repayment dates. The company is focused on sustainability, exploring electric and hybrid technologies, and aims to strengthen its U.S. market presence.

OXE Marine AB (OTC-PINK:CMMCF) announced the details for its Annual General Meeting scheduled for May 2, 2023, at 14:00 in Ängelholm, Sweden. Shareholders must register by April 21, 2023, and notify attendance by April 25, 2023. The meeting will cover key agenda items including election of board members, distribution of company results, and potential authorization for share issuance. Notably, the board proposes no dividend for the financial year 2022. The nomination committee suggests Jonas Wikström as chairman of the meeting. Shareholders can access meeting documentation through the company’s website ahead of the event.

OXE Marine is expanding its reach in Asia by appointing Creation Co., Ltd as its first dealer for diesel-powered outboards in Japan. This partnership aims to increase sales and enhance OXE Marine's international presence, following previous distributor agreements in countries like the Philippines, Singapore, and Malaysia. CEO Anders Berg expressed confidence in the appeal of their diesel outboards, noted for their superior fuel efficiency. The OXE Diesel Outboards demonstrate significantly lower fuel consumption and can operate on biodiesel, reducing carbon emissions by up to 92% compared to gasoline engines.

OXE Marine AB has released its Q4 2022 Interim Report, showing consolidated net turnover of SEK 32.2 m and a gross profit of SEK 3.4 m, marking a gross margin of 11%. The consolidated EBITDA was SEK -31.1 m, while the net result for the quarter was SEK -45.7 m. For the full year, net turnover reached SEK 148.4 m, with a gross profit of SEK 32.2 m, resulting in a loss of SEK -109.9 m. Despite challenges in sales and supply chain, OXE Marine made strides by raising SEK 70 m in a directed share issue and signing an OEM agreement with Nimbus Group. Future products include the OXE Hybrid 450, promising advancements in eco-friendly marine technology.

OXE Marine AB has achieved a significant milestone as its diesel-powered outboard engine, developed in collaboration with JET-TECH, was nominated for Innovation of the Year at the Miami International Boat Show on February 23, 2023. The OXE300 model is the world's most powerful outboard featuring water jet propulsion, thanks to its proprietary power transmission system. This groundbreaking technology allows for high torque handling without power loss. The innovation not only enhances fuel efficiency but also offers environmental benefits by eliminating traditional propellers, making it easier to maneuver in shallow waters.

OXE Marine AB has unveiled the OXE Hybrid 450, the world's first hybrid diesel outboard engine in higher power classes, at the Miami International Boat Show on February 15, 2023. This innovative engine combines diesel power with a 400-volt electric motor and lithium-ion battery system to achieve lower fuel consumption and reduced carbon dioxide emissions. The OXE Hybrid 450, with a total power of 450 horsepower, allows for emission-free operation in sensitive environmental areas. Field tests with Nimbus Group will commence this spring, with series production slated for the second half of 2023.