OXE MARINE'S WATER JET ENGINE NOMINATED FOR INNOVATION OF THE YEAR AT THE MIAMI INTERNATIONAL BOAT SHOW

Rhea-AI Summary

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.

Positive

• Nominated for Innovation of the Year at the Miami International Boat Show.
• World's first diesel outboard with water jet propulsion.
• High power and fuel efficiency in a single engine design.

Negative

• None.

ÄNGELHOLM, Sweden, Feb. 23, 2023 /PRNewswire/ -- OXE Marines AB (publ) diesel-powered outboards with water jet propulsion, which were developed together with JET-TECH, were nominated as one of the innovations of the year at the recently concluded International Boat Show in Miami. The engine is one of the world's most powerful outboards with water jet propulsion and has been made possible due to OXE's proprietary power transmission system that can handle very high torques.

By equipping an OXE300 diesel-powered outboard with waterjet technology, OXE Marine, together with JET-TECH, has created a configuration that combines OXE Marine's powerful and fuel-efficient outboard with the advantages of waterjet propulsion. The configuration is the world's first and most powerful outboard with water jet propulsion and axial flow.

"The nomination is great recognition for both our technology and our innovation capabilites. No one has succeeded in combining a fuel-efficient and powerful diesel outboard like the OXE300 with water jet propulsion in the same successful way," states Anders Berg, CEO of OXE Marine AB.

Waterjet propulsion lacks the traditional propeller and propels the boat forward by creating a powerful jetstream of water. The lack of a traditional propeller allows a flatter hull, is easier to maneuver in shallow water, and is a kinder choice for the marine environment as it eliminates the need for sharp propellers. Thanks to OXE Marine's unique belt transmission system, all torque generated by the diesel engine is transferred to the water jet drive itself without loss of power.

"The commercial launch of the world's first and most powerful diesel outboard with waterjet propulsion and the highest efficiency of all waterjet engines, represents a game-changer. Others are not able to transfer such high torques to the lower part of the rig, but we do it thanks to our belt drive which, in combination with a waterjet drive, can handle even higher loads," says Douglas Natoce, President at OXE Marine AB.

For more information, please contact:

Anders Berg, CEO, OXE Marine AB, anders.berg@oxemarine.com, +46 70 358 91 55
Douglas Natoce, President, OXE Marine AB, douglas.natoce@oxemarine.com, 813-624-3211

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/16067/3722412/1871295.pdf	20230223_nomin_engelska_
https://news.cision.com/oxe-marine-ab/i/jet-tech-innovation-awards-mibs-2023,c3148091	JET-TECH Innovation Awards MIBS 2023

 

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SOURCE OXE Marine AB

FAQ

What is the significance of OXE Marine's nomination at the Miami International Boat Show?

OXE Marine's outboard was nominated for Innovation of the Year, highlighting its advanced technology and market potential.

What is unique about the OXE300 diesel-powered outboard engine?

The OXE300 is the world's first and most powerful outboard engine using water jet propulsion, combining fuel efficiency with high torque capabilities.

When was OXE Marine's outboard engine nominated for an award?

The nomination occurred on February 23, 2023, at the Miami International Boat Show.

How does the water jet propulsion system benefit OXE Marine's outboard engine?

The water jet propulsion allows for a flatter hull design, better maneuverability in shallow water, and reduced environmental impact.

What are the stock symbols for OXE Marine AB?

The stock symbols for OXE Marine AB are OXE and CMMCF.