OXE Marine AB (OTCQX:CMMCF) Myron Mahendra tells Proactive the Sweden-based group has entered into a cooperation agreement with Norway-based Evoy AS to assess the technical and market viability of a high-powered electric outboard using OXE Marine’s lower leg together with Evoy’s electrical marine propulsion system.
Mahendra says the group aims to develop the technology to use for short distances within lakes, geo-parks, or inland water.
Story by ProactiveInvestors
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