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Cox Powertrain Ramps Up Production with £12 million Investment

Cox Powertrain, a leading British manufacturer of high-powered diesel outboard engines for the global marine industry, has successfully raised £9 million from existing shareholders and a further £3 million loan from HSBC UK Equipment Finance to allow the company to expand and ramp up production of the market-revolutionizing CXO300 outboard engine.

Since 2007, Cox Powertrain has been continuously backed by private investors who share the determination and passion for Cox’s success. Production of the CXO300 successfully began in May 2020 and since then, the CXO300 has been shipped to over 16 territories across the globe.

The CXO300 is built at Cox Powertrain’s HQ in Shoreham, UK, where £6.7 million from preceding investment was used to finance a highly advanced and state-of-the-art production facility. This facility was carefully planned and was built with flexibility and scalability in mind to ensure it could be adapted to keep up with demand.

When the CXO300 was launched, orders were already on the books and since production began in May 2020, there has been a significant increase in demand, with Cox having a strong order book to reflect this. 2021 is set to be a strong year for Cox and this huge investment of £12 million is a testament to the market’s confidence in the product.

Tim Routsis, CEO of Cox Powertrain, said, “2020 was a year of milestones for Cox Powertrain as we entered production of the CXO300 despite the challenges of the global effects of Covid-19. This injection of capital allows us to now scale up our business and fulfill our growing order books.”

“I would like to thank our worldwide suppliers and acknowledge their hard work under extreme Covid-related constraints. This has been incredibly challenging for everyone, so we hope Cox’s continued support will allow them to increase their production to enable us to meet the market demands.”

Cox Powertrain has already begun to put plans in place to acquire more parts to ensure a successful transition into ramp-up and they are eager to begin.

To find out more about the CXO300, visit www.coxmarine.com/the-engine .

Cox Powertrain Ramps Up Production with £12 million Investment

Ocean Business Postponed until October 2021

The organizers of Ocean Business have announced the event has been rescheduled from July to October 2021. The ocean technology exhibition and training forum will be deferred to the new dates of October 12-14, 2021 at the National Oceanography Centre, in Southampton UK. 

Ocean Business Postponed until October 2021

CWind Launches World’s First Hybrid Surface Effect Ship

CWind, a leading provider of project services, CTVs and GWO-accredited training courses to the offshore wind industry, and part of the Global Marine Group, delivers the world’s first hybrid powered Surface Effect Ship (SES), the CWind Pioneer.

CWind Launches World’s First Hybrid Surface Effect Ship

Legasea Wins Environmental Best Practice Award

Legasea, based in Aberdeenshire, has won a Scottish Green Apple Environment Award in the campaign to find the greenest companies, councils, and communities. They have won their award for environmental best practice in relation to their Subsea Circular Economy services.

Legasea Wins Environmental Best Practice Award
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