{"id":8696,"date":"2021-02-26T20:36:04","date_gmt":"2021-02-26T20:36:04","guid":{"rendered":"https:\/\/www.coxmarine.com\/dev\/cox-powertrain-raises-12-million-to-ramp-up-production-of-the-cxo300\/"},"modified":"2022-01-07T11:22:30","modified_gmt":"2022-01-07T11:22:30","slug":"cox-powertrain-raises-12-million-to-ramp-up-production-of-the-cxo300","status":"publish","type":"post","link":"https:\/\/coxmarine.com\/mena\/news\/cox-powertrain-raises-12-million-to-ramp-up-production-of-the-cxo300\/","title":{"rendered":"Cox Powertrain raises \u00a312 million to ramp up production of the CXO300 outboard engine to meet global demand"},"content":{"rendered":"<p><em>Cox Powertrain has raised \u00a39 million from existing investors and secured a \u00a33m loan from HSBC UK Equipment Finance.<\/em><\/p>\n<p><strong>Shoreham, UK \u2013 24 February 2020<\/strong> \u2013 Cox Powertrain, a leading British manufacturer of high-powered diesel outboard engines for the global marine industry, is pleased to announce it has raised \u00a39 million from existing shareholders, together with a \u00a33 million loan from HSBC UK Equipment Finance, to allow the company to expand and ramp up production of its CXO300 diesel outboard.<\/p>\n<p>The CXO300 has been designed from first principles using the best of automotive and marine technology. It offers significant benefits over industry-standard gasoline engines, including 25% better fuel efficiency; lower total cost of ownership; three times longer life; improved safety; and much improved environmental credentials.<\/p>\n<p><strong>Tim Routsis, CEO of Cox Powertrain, said,<\/strong> \u201c2020 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 to fulfil our growing order books.\u201d<\/p>\n<p>\u201cI would like to thank our world-wide suppliers and acknowledge their hard work under extreme Covid-related constraints. This has been incredibly challenging for everyone, so we hope Cox\u2019s continued support will allow them to increase their production to enable us to meet the market demands.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cox Powertrain has raised \u00a39 million from existing investors and secured a \u00a33m loan from HSBC UK Equipment Finance. Shoreham, UK \u2013 24 February 2020 \u2013 Cox Powertrain, a leading&#8230;<\/p>\n","protected":false},"author":230,"featured_media":8697,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-8696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/posts\/8696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/users\/230"}],"replies":[{"embeddable":true,"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/comments?post=8696"}],"version-history":[{"count":1,"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/posts\/8696\/revisions"}],"predecessor-version":[{"id":8718,"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/posts\/8696\/revisions\/8718"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/media\/8697"}],"wp:attachment":[{"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/media?parent=8696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/categories?post=8696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coxmarine.com\/mena\/wp-json\/wp\/v2\/tags?post=8696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}