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OXE MARINE RECEIVES AN ADDITIONAL ORDER FROM US BOAT BUILDER FOR USD 2.6 M TAKING THE TOTAL ORDER VALUE TO USD 5.9 M INCLUDING PREVIOUSLY ANNOUNCED ORDERS

MAR

On 11 July 2024 OXE Marine Inc received confirmation from the boat builder that it had received the required contracts to make the remainder of the order unconditional, thus increasing the previous order from USD 0.9m to USD3.3m. Now today, OXE Marine Inc signed an addendum to the contract for an additional order of USD 2.6m from the same boat builder taking the total orders received to USD 5.9m.

As stated in the press release on 10 June 2024, the engines to be delivered are based on the OXE200 platform and modified to be used for an inboard application. As announced in the Q2 2024 Interim Report, OXE Marine has received an advance payment of USD 0.9M on the order. The order is expected to contribute positively to both OXE Marine’s profitability and cash flow. The first delivery on the combined order has taken place and will continue over the following 12-month period.

For further information, please contact:
Paul Frick, CEO, OXE Marine AB, paul.frick@oxemarine.com, +46 (0) 70 325 0620

Jonas Wikström, chair of the board, OXE Marine AB, jonas.wikstrom@oxemarine.com, +46 (0) 70 753 6566

Certified Adviser
FNCA Sweden AB is Certified Adviser for OXE Marine AB (publ).

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 torque transmission between powerhead and lower leg has led to a global high demand for the company’s outboards. Enabling improved performance and fuel efficiency in an outboard, OXE Marine redefines possibilities in the marine sector.

This information is information that OXE Marine is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-31 18:55 CEST.

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OXE MARINE RECEIVES AN ADDITIONAL ORDER FROM US BOAT BUILDER FOR USD 2.6 M TAKING THE TOTAL ORDER VALUE TO USD 5.9 M INCLUDING PREVIOUSLY ANNOUNCED ORDERS

Datum 2024-07-31, kl 18:55
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OXE MARINE RECEIVES AN ADDITIONAL ORDER FROM US BOAT BUILDER FOR USD 2.6 M TAKING THE TOTAL ORDER VALUE TO USD 5.9 M INCLUDING PREVIOUSLY ANNOUNCED ORDERS
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