Cimco Marine AB have completed preliminary study of 3.0-liter turbodiesel engine

Cimco Marine AB, which produces the world's first diesel engine in the higher power intervals and is listed on the Nasdaq First North, has conducted a preliminary study on a 3.0-liter turbodiesel engine from in cooperation with technology company Semcon. Cimco's current power head is a 2.0-liter four cylinder turbo, both for the 150 and 200 hp diesel engines. The preliminary study was positive and will result in the development of a prototype after the summer. Preliminary production start is scheduled for 2020.

– The outcome of the preliminary study is deemed positive and we will shortly move into the next phase, which involves the development of a prototype for practical tests in marine environments, says Cecilia Anderberg, CEO of Cimco Marine.  

The preliminary study has been carried out in close collaboration with an expert group from Semcon with extensive experience in marine product marketing.
– At Semcon, we have an experienced and competent partner that complements our engineering and development team. Semcon has a long tradition of extensive expertise in engine development for marine applications. The cooperation has worked well, and we’re pleased with the outcome of the preliminary study, says Cecilia Anderberg.  

The engine used for the preliminary study is a prestigious 3.0-liter twin turbo diesel engine, that will be modified and adapted for marine professional use.
– We have identified what actions are required to enter the next phase. Evaluation and experience from Cimco's existing diesel engine has been a key factor to why the preliminary study was positive and to why we choose to move forward, says Henrik Einarsson, Technical Leading Engineer at Semcon.  

A larger and stronger engine is more durable and has a longer life span. Cimco already produces the strongest marine outboard diesel engine on the market today.
– Our estimation is that there is a need and demand for even stronger engines among our existing and potential customers, says Cecilia Anderberg.  

For further information, please contact:
Cecilia Anderberg, CEO Cimco MarineAB, +46 763-10 22 50,
cecilia.anderberg@oxe-diesel.com
Andreas Blomdahl, Chairman of the Board of Cimco Marine AB, +46 706-28 01 30, andreas.blomdahl@oxe-diesel.com
Myron Mahendra, CFO Cimco Marine AB, +46 763-47 59 82, myron.mahendra@oxe-diesel.com
Lars Sjögrell, Head of Public Relations, Cimco Marine AB, +46 702 69 53 00, lars.sjogrell@perspective.se

Certified Adviser
Västra Hamnen Corporate Finance AB is Cimco’s Certified Adviser.
 

Cimco Marine AB (publ) is obligated to make this information public pursuant to the EU Market Abuse Regulation.The information was submitted for publication, through the agency of the contact person set out above, on 19 April 2018 at 11:45 CEST.  

Cimco Marine AB (publ) has, after several years of development, constructed the OXE Diesel, the world ́s first diesel outboard engine in the high power segment. OXE Diesel has a unique belt driven propulsion system that allows a hydraulic multi-friction gearbox to be mounted. This means that the engine can handle significantly higher loads than a traditional outboard engine. Cimco’s OXE diesel has a horizontally mounted engine as opposed to a traditional outboard with a vertically mounted engine.  

Semcon is an international technology company that develops products based on human needs and behaviors. Semcon works primarily with companies in the automotive, energy and life science industries. Semcon has over 2,000 employees representing a wide range of expert knowledge worldwide. In 2017, the Group had a turnover of 1.8 billion SEK.

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Cimco Marine AB (publ) has, after several years of development, constructed the OXE Diesel, the world's first diesel outboard engine in the high power segment. OXE Diesel has a unique belt driven propulsion system that allows a hydraulic multi-friction gearbox to be mounted. This means that the engine can handle significantly higher loads than a traditional outboard engine. Cimco's OXE Diesel has a horizontally mounted engine as opposed to a traditional outboard with a vertically mounted engine.

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