U.K-based Caudwell Marine is developing a 300-hp diesel outboard that it says will be launched in 2024.

The company has the backing of billionaire entrepreneur John Caudwell.

“We know that the market is desperate for a solid and reliable diesel outboard, which delivers the highest level of performance,” Peter Ordway, commercial director at Caudwell Marine, said in a statement. “We are completing our program of very challenging product testing so that we are sure to deliver a market-ready product that will perform out of the box, succeeding where others have failed.”

The engine is based on a turbocharged V-6 powerhead and includes a patented integrated steering system called “Axis Drive,” wherein the lower unit steers while the powerhead and midsection remain stationary.

The outboard is primarily aimed at commercial and military applications, but the company said it expects opportunities in the recreational market.

Caudwell Marine said the outboard is undergoing durability testing and final validation.