OXE Marine Inc. (US), a subsidiary of OXE Marine AB (publ), has received an order totaling USD 5.8 million, to supply a United States Governmental Agency, (the "Agency"). The scope of supply of the order includes 40 units of the company's low-emission diesel OXE outboard engines, rigging accessories, spare parts and lifecycle support as well as rigging and installation services to be performed to the fleet of vessels being fitted with OXE engines. All products are planned for delivery in 2023 with the installation services to be carried out over 2024.
The order was placed by a private contractor in the United States, which received the award to deliver the equipment to the Agency. 50% of the order (approximately USD 2.9 million) will be paid in advance during the early stages of the project, and this advance payment is expected to be received during Third Quarter and Fourth Quarter 2023. The order underscores the growing recognition of OXE Marine's products and reinforces its position as a trusted choice for government agencies worldwide.
OXE Marine products are designed for applications where high-speed, torque, range, fuel efficiency and safety are all required.