US Lighting Group Subsidiary, Fusion X Marine, Starts Production on its First Mini Speedboat to Compete with the Jet Ski Industry

Rhea-AI Summary

US Lighting Group, Inc. (OTC:USLG) announced that its subsidiary, Fusion X Marine, has commenced production of a 15-ft mini speedboat aimed at the recreational boating market. This new product targets both Jet Ski enthusiasts and first-time boat owners. The speedboat is designed for versatility, allowing usage in lakes and oceans, and is U.S. Coast Guard approved. The recreational boating market, valued at over $35 billion in 2020, is projected to reach $60 billion by 2027 with a CAGR of over 6.5%. This launch is part of US Lighting's strategic plan to diversify and enhance shareholder value.

Positive

• Launch of the 15-ft mini speedboat enhances product diversification.
• Entry into the growing $35 billion recreational boating market projected to reach $60 billion by 2027.
• Speedboat designed to attract Jet Ski enthusiasts and first-time boat buyers.

Negative

• None.

EUCLID, Ohio, March 15, 2022 /PRNewswire/ -- US Lighting Group, Inc. (OTC:USLG), announced today that its wholly owned subsidiary, Fusion X Marine, LLC, has begun manufacturing its 15-ft mini speedboat. The company's initial business plan is to provide a top-notch powerboat to rental sites both domestically and internationally. The design of a smaller powerboat appeals to Jet Ski enthusiasts as well as first time boat owners.

Fusion X Marine joins its sister companies, Cortes Campers LLC, and Futuro Houses, LLC, in introducing 100% molded fiberglass products to fast-growing markets where product quality matters.   

"We are delighted to be in production with our 15-ft mini speedboat," said Anthony Corpora, CEO and President of the US Lighting Group. "Fusion X Marine's 15-footer has numerous advantages over Jet Skis including a longer boating season, and can be used in all waters, including lakes and oceans. The 15-ft boat can have up to a 50 HP outboard motor and is approved by the U.S. Coast Guard for Safe Loading."

Mr. Corpora continued, "Fusion X Marine is part of our strategic diversification plan to sell into growing recreational markets. This should have a positive effect on the company's bottom line and benefit our shareholders. Our expertise in fiberglass, carbon fiber composites, and marine gelcoats for boat making, allows us to create an exciting 15-ft mini speedboat for the Recreational Boating industry. Marketing to Jet Ski and boat rental sites here in the U.S. and overseas resort destinations like the Mediterranean and Caribbean will give us the opportunity to expand into areas seeing tremendous growth potential."

According to Market Research, the Recreational Boating Market surpassed $35 billion in 2020, and is expected to reach $60 billion in 2027, with anticipated growth at over 6.5% CAGR. Rising consumer expenditure on leisure boating activities owing to increasing disposable income in Europe and North America is driving industry growth. 

About US Lighting Group, Inc.
US Lighting Group, Inc. (OTC:USLG) has three subsidiaries, Cortes Campers, LLC, a revolutionary manufacturer of state-of-the-art molded fiberglass travel trailers and campers, Fusion X Marine, LLC a boat manufacturer, and Futuro Houses, LLC a fiberglass house manufacturer. The Company and its subsidiaries have manufacturing and R&D facilities in Cleveland, Ohio.

For additional information: uslightinggroup.com

About Fusion X Marine, LLC
Fusion X Marine, LLC, is an expert in the design of powerboats for the recreational boating industry utilizing the highest quality marine materials to create lighter weight, stronger, and more durable mini speedboats. 

For additional information: fusionxmarine.com

Forward-Looking Statements
Certain statements in this news release, including but not limited to reference to orders, sales goals, design effects, and growth of the industries, may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements are typically, but not always, identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements.

Investor Relations Contact:
Andrew Barwicki
516-662-9461
andrew@barwicki.com

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SOURCE US Lighting Group

FAQ

What new product has US Lighting Group launched?

US Lighting Group's subsidiary, Fusion X Marine, has launched a 15-ft mini speedboat.

What market is US Lighting Group targeting with its new mini speedboat?

The new mini speedboat targets the recreational boating market, including Jet Ski enthusiasts.

What are the key features of the 15-ft mini speedboat?

The speedboat can be used in lakes and oceans, is U.S. Coast Guard approved, and can accommodate up to a 50 HP outboard motor.

How is the recreational boating market projected to grow?

The recreational boating market is projected to grow from over $35 billion in 2020 to $60 billion by 2027, with a CAGR of over 6.5%.

What is the significance of the speedboat's launch for US Lighting Group?

The launch of the speedboat is part of US Lighting Group's strategic diversification plan aimed at enhancing profitability and shareholder value.