X Shore awarded highest sustainability rating possible

X Shore Eelex 8000 taking on the USA © X Shore

X Shore, the Swedish technology company behind a game-changing generation of fully-electric, connected boats, has been recognised by an independent accreditor as being one of the most sustainable manufacturers in the world.

Stockholm-based X Shore's processes, revenues and investments were audited by leading global provider of independent, research-based evaluations on green bonds CICERO Shades of Green AS. The final result was X Shore being awarded the Dark Green rating: the best possible result.

X Shore CEO Jenny Keisu comments: "X Shore places great value on sustainability: it drives our work forward, and is central to the company. One day, net-zero boats will be a reality but, for now, we must reduce emissions throughout the supply and value chain, and use materials sourced in the most sustainable way possible. The rating is gratifying because X Shore is not just a category leading electric boat company, but the greenest."

The process required that X Shore be inspected on several criteria, including: operations, strategy, revenue, and investments. It is believed that X Shore is the first manufacturing company to be 100% Dark Green and the CICERO process is Nasdaq-accredited, meaning that X Shore's ESG rating transparency is in line with that of listed companies.

Notably, CICERO reports that (the following are direct quotes from the report):

• 'X Shore demonstrates a high awareness of environmental concerns and has a clear focus on sustainability throughout its business'
• '100% of X Shore's revenue and 100% of investments are shaded Dark Green'
• 'CICERO Green assesses that X Shore meets the requirements for Nasdaq Green Equity Designation set out in the Nasdaq Green Equity Principles'
• 'X Shore has taken a number of important steps to reduce the emissions and environmental impact of their production and supply chain'
• 'CICERO Green views it as positive that X Shore is actively working to reduce transport emissions'
• 'CICERO Green considers X Shore's product and objectives to contribute to climate mitigation'
• 'Cicero Green considers X Shore's governance efforts positively'
• 'The new facility [Nyköping] has been designed with a focus on employee health and safety concerns'

To further dial into the centrality of the sustainability message at the core of X Shore, the Swedish electric boat company has launched a separate section of the website, dedicated to the topic. X Shore is leading the decarbonisation of the economy and creating the tools needed for a fossil fuel-free future. Part of this is the public discussion around strategy and transparent goal setting. X Shore aims to create a net-zero, proof of concept, boat by 2030.