OXE MARINE AB (PUBL) publishes annual report for 2025
MANAGEMENT REPORT
Information about the business
OXE Marine AB (publ) was formed in 2012 and after several years of development has developed a diesel outboard for the marine market. The head office is located in Ängelholm, Sweden. OXE Marine AB is listed on Nasdaq First North Growth Market, ISIN SE0009888613. The global outboard market has long been dominated by gasoline engines, but with a diesel engine you get a more fuel-efficient engine in addition to carrying a less flammable fuel source on-board bringing many safety benefits to the end user. The OXE engine is based on marinizing automotive engines, enabling end users to lower their emissions levels compared to conventional gasoline engines as well as giving customers in certain regions to run on fossil-free diesel alternatives such as HVO100 which significantly reduces the CO2 footprint of the end user.
Several attempts have been made to develop outboard engines for diesel fuel, but the difficulty lies in developing a sufficiently strong design for power transmission between the engine and the propeller. The patented belt propulsion ’lower-leg’ is at the core of OXE Marine’s unique technology. OXE Marine's outboard engine, OXE Diesel, is the first diesel outboard that is capable of replacing the well-established gasoline outboards in the higher power levels, in commercial and governmental operations. The engine is based on a modular platform that has been configured for a horizontally mounted engine, similar to a traditional inboard configuration and unlike traditional outboards that have vertical engine installations. OXE Marine's unique technology has offered a solution to the many users around the world requiring a diesel outboard. Among other things, the North Atlantic Treaty Organisation (“NATO”) introduced a directive, the Single Fuel Concept to maximize equipment interoperability through the use of a single fuel, which includes phasing out gasoline-driven equipment in favour of diesel engines.
Significant events during the financial year
OXE Marine AB (the "Company”) announced the following significant events during the year:
- OXE Marine receives the largest order in the company’s history of USD 6.6 m to supply a United States Governmental agency.
- OXE Marine AB changes Certified Adviser to Redeye Nordic Growth AB.
- OXE Marine and GM Marine enter into a development agreement: GM’s Duramax engines to power a new generation of OXE outboards.
- OXE Marine signs new financing agreements and secures a total of SEK 49.2 m for all-time-buy to support transition from BMW to GM powertrains.
Future prospects
OXE Marine 's future growth is dependent on the Company developing and producing fuel efficient and innovative marine products. The Company continues to explore new technologies, partner with leading automotive manufactures to be at forefront of delivering best in class automotive technology to the marine industry. The Company continues to develop an organization that works in a structured and efficient way with quality and innovation. Additionally, OXE has strengthened its position in the US market, creating a direct to market model, gaining access to end-user, dealer, governmental and OEM networks. This, in combination with new ongoing development projects, supports management’s assessment that demand will continue to be strong from the market.
The Annual report is available for download at: https://www.oxemarine.com/investors/financial-reports