PR Newswire | Feb 4, 2021 05:40AM EST

02/04 04:39 CST

First OXE125-200 assembly in USA- Outdoor Network Manufacturing (ONM) has initiated start of assembly of OXE125-200 STOCKHOLM, Feb. 4, 2021

STOCKHOLM, Feb. 4, 2021 /PRNewswire/ -- In-line with the manufacturing agreement between OXE Marine AB (NASDAQ STO: OXE) (OTCQB: CMMCF) and Outdoor Network Manufacturing (ONM), start of assembly of OXE125-200 has been initiated by ONM in Albany (GA, USA).

The development of the production set up in the USA has proceeded as planned, in line with the goal to initiate production of OXE125-200 in Albany (GA, USA) early this year. Production set up and initial assembly of units are on-going with support from OXE Marine personnel on site.

The first production units from the assembly will undergo rigorous testing to ensure that stringent demands on endurance, reliability, power and control are sustained.

OXE Marine AB continue in-house production of OXE Diesel units to meet market demand, ensuring a constant supply of engines to the market.

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. For further information, please contact: Myron Mahendra, CEO, myron.mahendra@oxemarine.com, +46 76 347 59 82 Anders Berg, Chairman, anders.berg@oxemarine.com, +46 70 358 91 55 OXE Marine AB (publ) (NASDAQ STO: OXE, OTCQX: CMMCF) has, after several years of development, constructed the OXE Diesel, the world's first diesel outboard engine in the high-power segment. The Company's unique patented engine-to-propulsion power transmission solutions have led to high demand for the Company's engines worldwide. This information was brought to you by Cision http://news.cision.com https://news.cision.com/oxe-marine-ab/r/first-oxe125-200-assembly-in-usa,c3278798 The following files are available for download: https://mb.cision.com/Main/16067/3278798/ First OXE125-200 assembly in 1367378.pdf USA

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SOURCE OXE Marine AB