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The Isotta Fraschini powered luxury superboat XSR48 has triumphed over a string of highly regarded and innovative transportation designs to collect top honours in the 'Transport' category of the Condé Nast Traveller Innovation and Design Awards.

To collect the award the XSR48 beat off competition from three cars (Fiat 500, the French Loremo and the VW Polo Blue Motion), two trains (Spain's AVE Train and Japan’s Nozomi N700), two push bikes (the French Velib and Momo City Bike) a motorbike (Philippe Starck's concept motorbike for Voxan) and an innovative cat's eye from Australia (the SolarLite).

XSMG Marine, the British superboat manufacturer who build the award-winning craft, was presented with a prestigious design and innovation award for the XSR48 during a prize giving ceremony, the firm's iconic and ultra-luxury superboat. In standard trim the XSR48 is powered by two 11.3-litre Isotta Fraschini L1306 - 588 kW diesel engines which give the craft a combined 1600 bhp power output.

The Condé Nast Traveller’s Innovation and Design Awards, which took place at a gala ceremony at Grosvenor Square, London on Monday evening, celebrate excellence in 10 categories ranging from Sustainability to Infrastructure. The XSR48 was selected in the Transport category that included other recent design achievements such as the new Fiat 500 and Philippe Starck's concept motorcycle for Voxan. Other winners at the award ceremony included Heston Blumenthal for excellence in the Gourmet category and Chanel in Retail.

The top award was voted for by readers of the magazine after being shortlisted by a panel of experts including Jason Barlow, editor-at-large at Top Gear Magazine, Sir Nicholas Serota, director of the Tate Gallery and Lloyd Grossman, the culture and food expert.

Commenting on the accolade, Ian Sanderson, XSMG Marine's Chief Executive and founder said: "We all thrilled and immensely proud that XSMG Marine, a small niche British design project that designed and created the XSR48 as a super-luxury icon, has been recognised to have achieved exactly that. Being nominated was already seen as a triumph for our design team, to win the award against some of the world's most extraordinary and highest profile design projects and some of the world's largest brands is overwhelming.

"It takes a huge amount of creativity to create a truly 'unique' concept, our XSR48 unquestionably has unique DNA, but it takes huge amounts of courage and commitment for a small business to take a concept and turn it into a reality. We have all put so much passion and hard work in making this vision a reality, so it is absolutely fantastic to receive this recognition against such esteemed opponents."