FOR IMMEDIATE RELEASE
August 27, 2024
Media Contact: Jana W. Dyke
President & CEO of Albany-Dougherty
Economic Development Commission
(229) 434-0044
jdyke@choosealbany.com

Albany Business, Oxe Marine, Receives Significant Engine Contract From US Boat Builder

ALBANY, GA – OXE Marine Inc, a wholly owned subsidiary of OXE Marine AB with a manufacturing location in Albany, Georgia, has received a large contract order from an US boat builder to supply engines from their US assembly facility.

The engines to be delivered are based on the OXE200 platform and modified to be used for an inboard application. As part of the order, OXE Marine will receive an advance payment of (USD 0.9M). Orders are planned for delivery starting in Q3 2024 and over the following 12-month period. The total purchase order value is USD 3.3M with USD 0.9M being unconditional and USD 2.4M being conditional on certain contracts being received by the boat builder.

“This order shows the progress that OXE Marine is making in the US market with its marine diesel solutions and the ability to have the engines assembled in the US.” says Jeremy Davis, CCO /Executive Vice President of OXE Marine Inc.

“The order demonstrates that OXE Marine is able to offer a variety of propulsion solutions to the marine market with a compact design and impressive power to weight ratio, the OXE engines used in outboard applications can also be an attractive solution for inboard applications.” says Paul Frick CEO of OXE Marine AB.

OXE Marine, founded in 2012 and based in Sweden, is focused on pioneering high-performance diesel outboard engines, primarily targeting commercial applications. The company’s goal is to innovate and advance the manufacturing of diesel outboards, emphasizing efficiency, reliability, and environmental considerations.

In 2021, OXE Marine partnered with Outdoor Network to expand their facilities in Albany, Georgia in line with their vision. This expansion increased their production capacity and has made these positive impacts on our local economy:

1. Job Creation: The expansion brought new employment opportunities to Albany, GA, with jobs (want to state number of jobs?) offering starting pay above the standard median.

2. Onsite Job Training: OXE Marine provided specialized skills engine training for the manufacturing and servicing of their diesel outboards as part of their commitment to developing a skilled workforce.

3. Community Benefits: Beyond job creation and training, OXE Marine’s expansion in Albany contributed to the community by fostering economic development and enhancing the region’s industrial capabilities. It strengthened the partnership between OXE Marine and Outdoor Network, leveraging their combined expertise and resources.

According to ADEC Chair Chris Hatcher, “Oxe Marine has delivered increased jobs and substantial workforce training for the betterment of our community since their 2021 expansion in Albany, Georgia. We are honored that Oxe Marine’s high quality products are manufactured locally here in Dougherty County by our talented workforce.”

The mayor of Albany Bo Dorough says, “The expansion of OXE Marine in Albany, GA, is a significant boost for the local economy, bringing in advanced manufacturing capabilities and creating numerous job opportunities for residents. This move not only underscores Albany’s strategic importance but also enhances the region’s reputation as a hub for industrial growth.”

“We would like to express our sincere gratitude to OXE Marine for expanding your operations in our community. Your investment brings exciting opportunities and growth to our city. This development marks a major milestone in OXE Marine’s commitment to sustainability and technological excellence,” says Dougherty County Chairman, Lorenzo Heard

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About the Albany-Dougherty Economic Development Commission

The Albany-Dougherty Economic Development Commission is a public-private partnership whose mission is to foster new investment and job creation through the recruitment, retention, and expansion of industry for Albany-Dougherty County. They aim to bring new industries to Albany and give existing businesses the resources they need to expand. In doing this, they help bring new employment opportunities to Albany. To learn more, visit www.choosealbany.com.