OXE MARINE EXPAND THEIR FOOTPRINT IN ASIA BY APPOINTING CREATION CO., LTD AS DEALERS FOR JAPAN

Rhea-AI Summary

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.

Positive

• Appointment of Creation Co., Ltd as a dealer in Japan enhances OXE Marine's market presence in Asia.
• Partnership is expected to increase sales and support international growth strategies.
• OXE Diesel Outboards' fuel efficiency may attract both recreational and commercial sectors.

Negative

• None.

ÄNGELHOLM, Sweden, March 28, 2023 /PRNewswire/ -- OXE Marine is expanding in Asia by appointing Creation Co., Ltd as new dealers for the company's diesel-powered outboards on the Japanese market. Creation Co., Ltd, founded in 1988, offers boat sales, motors, as well as service and repairs.

This partnership makes Creation Co., Ltd the first dealer of OXE Marine's diesel-powered outboard motors, OXE Diesel Outboards, in Japan. In order to grow internationally and increase sales, OXE Marine has previously established partnerships with several distributors in Asia, including the Philippines, Singapore, Malaysia, Indonesia and Taiwan.

Creation Co., Ltd is participating in the ongoing Japan International Boatshow 2023.

"We have found a very good partner for continued expansion in Creation Co., Ltd. We are convinced our diesel outboards, with industry-leading fuel efficiency, will be of interest to both recreational and commercial boats in the Japanese market," says Anders Berg, CEO of OXE Marine AB.

OXE Marine's diesel outboards, OXE Diesel, have significantly lower fuel consumption than their gasoline counterparts and can also run on biodiesel such as HVO100. When OXE Marine tested a twin installation of their OXE300 motors on a Nimbus T11 boat last year, the gasoline installation of the same power class showed a 50 percent higher fuel consumption. Furthermore, when the two OXE300 from OXE Marine were operated on HVO100 biodiesel, carbon dioxide emissions were reduced by up to 92% compared to the gasoline installation.

Formulärets överkant

CONTACT:

For more information, please contact:

Anders Berg, CEO, OXE Marine AB, anders.berg@oxemarine.com, +46 70 358 91 55

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 transmission between powerhead and lower leg has led to a global high demand for the company's outboards. OXE Marine are on a journey to make life at sea prosperous for people and planet.  

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.

The following files are available for download:

https://mb.cision.com/Main/16067/3742469/1948890.pdf

20230328_Creation Marine.eng

View original content:https://www.prnewswire.com/news-releases/oxe-marine-expand-their-footprint-in-asia-by-appointing-creation-co-ltd-as-dealers-for-japan-301783662.html

SOURCE OXE Marine AB

FAQ

What is OXE Marine's recent expansion announcement?

OXE Marine announced the appointment of Creation Co., Ltd as its first dealer for diesel-powered outboards in Japan on March 28, 2023.

How do OXE Marine's diesel outboards compare to gasoline engines?

OXE Marine's diesel outboards consume 50% less fuel than gasoline engines and can run on biodiesel, reducing carbon emissions by up to 92%.

Which countries has OXE Marine partnered with for distribution?

In addition to Japan, OXE Marine has established partnerships in the Philippines, Singapore, Malaysia, Indonesia, and Taiwan.

What are the expected benefits of partnering with Creation Co., Ltd?

The partnership with Creation Co., Ltd is expected to enhance OXE Marine's sales and market presence in Japan's recreational and commercial boating sectors.

Who is the CEO of OXE Marine?

The CEO of OXE Marine is Anders Berg.