ABOUT OXE MARINE
OXE Marine AB (Publ) (the “Company”) is an innovator, a game changer. We are driven by the ambition to transform the outboard motor; impacting the journey towards a more sustainable and ecologically positive marine environment. We believe in the dynamics of a strong collaborative approach with both our teams and our partners to deliver products of unprecedented power, reliability and endurance. We believe in being daring and persistent in our passion for excellence, in taking individual responsibility and meeting expectations of our staff, community, customers, suppliers and investors alike.
We have developed our vision, mission and core values, which was approved by the Board and they are as follows
- Global adoption of the OXE belt propulsion design
- To design and supply high quality marine propulsion solutions.
- To dramatically reduce exhaust emissions in the marine outboard segment.
- To provide a superior return to our customers.
- To build loyal customer base as well as alliances to further support global adoption of our products.
- A commitment to innovation and excellence.
- A commitment to supplying safe, durable and reliable products and services.
- A commitment to recruit and retain high quality personnel.
- A commitment to develop a highly collaborative work culture.
- A commitment to openness and fairness with all our stakeholders.
In keeping with the product branding and name, the shareholders have approved the name change of the Company from Cimco Marine AB to OXE Marine AB early 2020. We also developed a strapline accordingly to match our ambition as an innovative marine company. The brand design and strapline are as follows:
As for our product line, we have of course the OXE Diesel line which ranges from 125hp up to 300hp. Our belt propulsor design not only matches the demands of high torque generated by diesel engines but also by an electric motor. The Company intends to further develop its product range to include a hybrid variant (combustion engine with an electric motor) as well as an all-electric variant. The branding tree of our product portfolio (current and future) is as follows:
The company amended its web domain to be www.oxemarine.com when changing the name, as well as email addresses using that domain name. Additionally, the Company’s Symbol with Nasdaq First North was amended to OXE.
OXE Marine was founded then as Cimco Marine AB in 2012 based on technology spun off from Volvo Penta and VW. This included a combination of a belt propulsion technique, a horizontally mounted automotive engine, and a hydraulic gearbox. At that time, around SEK 50m had already been spent on the technique. OXE Marine´s first diesel outboard was finalized in the spring of 2014, with a pre-launch at HSBO (High. Speed Boat Operation) in Gothenburg in. May 2014. The Pre-launch was followed by small-scale production launch in 2016. OXE Marine has been listed on Nasdaq First North as Cimco Marine AB since July 2017. OXE Marine employs around 35 staff, mainly within research and development. The company aims to be a global market leader in diesel outboard engines primarily for commercial use. Its strategy is to develop a strong product offering, backed up by sales via a global network of established distributors.
Sales of OXE Diesel have more than doubled from low levels every year since launch.