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

The investment follows a year of significant progress in 2020, where production of the CXO300 began and engines were shipped to Cox’s international network of distributors, including in North America, Europe, the Middle East, and Asia. The amount raised from existing investors signals their strong confidence in the business and its potential, with a strong order book for 2021 and beyond.