Welcome to our dedicated page for Vision Marine Technologies news (Ticker: VMAR), a resource for investors and traders seeking the latest updates and insights on Vision Marine Technologies stock.
Vision Marine Technologies Inc (NASDAQ: VMAR) is a leader in electric marine propulsion systems, driving innovation in sustainable boating solutions. This page serves as the definitive source for official company announcements, financial updates, and strategic developments.
Investors and industry observers will find timely updates on earnings reports, product launches, and partnerships that shape VMAR's position in the marine technology sector. Our curated collection includes press releases related to the E-Motion™ powertrain advancements, sustainability initiatives, and market expansion efforts across North America and Europe.
Key content areas include technical innovations in zero-emission propulsion, regulatory milestones for marine transport, and operational updates from both sales and rental business segments. Bookmark this page to stay informed about Vision Marine's progress in transforming recreational boating through clean energy solutions.
Vision Marine Technologies (NASDAQ: VMAR) announced a grant of up to $1.72 million CAD from the government of Québec to accelerate the commercialization of its E-Motion™ 180 powertrain technology. This funding aims to position Vision Marine as a leader in innovative clean technologies, enhancing business opportunities nationally and internationally. The E-Motion™ system boasts high efficiency, zero fossil fuel reliance, and significant CO2 reduction, projecting a 90% cut in fuel and maintenance costs.
Vision Marine Technologies (Nasdaq: VMAR) has announced its participation in five major boat shows, showcasing its electric E-Motion™ powertrain system. Events include the Maine Boat & Home Show (August 13-15, 2021) and the Newport International Boat Show (September 16-19, 2021). The company emphasizes the benefits of the E-Motion™ system, which boasts zero emissions, high efficiency, and a 90% reduction in fuel and maintenance costs compared to traditional outboards. 2020 saw record outboard engine sales in the U.S., with a notable demand for high-performance engines.
Vision Marine Technologies (Nasdaq: VMAR) announced a partnership with Hellkats Powerboats to showcase its E-Motion™ powertrain system on a Hellkats 32’ Widebody Catamaran. The limited edition boat, named Fulgura I, aims to exceed 100 mph and is set to debut in November 2021. After the event, the boat will be auctioned, with proceeds benefiting environmental charities. This collaboration highlights Vision Marine's commitment to revolutionizing the electric boating industry and promoting cleaner waterways.
Vision Marine Technologies (Nasdaq: VMAR) announced its acquisition of EB Rental Ltd., a profitable electric boat rental company in Newport Beach, California. This strategic move allows Vision Marine to showcase its E-Motion™ powertrain system and tap into a growing market projected to reach US$5 billion by 2027. The acquisition supports Vision Marine's goal of becoming the leading manufacturer of electric outboard engines and enhances its brand visibility in the eco-friendly boating sector.
On May 25, 2021, Vision Marine Technologies (NASDAQ: VMAR) announced the appointment of Alan D. Gaines as Chairman of the Board, succeeding Robert Ghetti, who resigned. Mr. Gaines brings extensive experience in capital formation, M&A, and governance, having raised over $100 billion in his career. His leadership is expected to accelerate the adoption of Vision's innovative electric outboard powertrain, E-Motion, which aims to disrupt the traditional boating market by enhancing eco-friendliness and performance. The company aims to combat waterway pollution with its sustainable technology.
Vision Marine Technologies, Inc. (VMAR) announced a supply agreement with The Limestone Boat Company, marking a significant step in the commercialization of its E-Motion electric outboard powertrains. The deal includes an initial order of 25 powertrains valued at approximately US $2M. Vision Marine will also invest US $2.8M in Limestone through convertible debentures. This partnership positions both companies to leverage a growing demand in a market projected to reach US $17B by 2026, driven by environmental regulations and consumer shift towards electric boating.
Vision Marine Technologies (Nasdaq: VMAR) is set to launch a global marketing campaign for its new electric outboard engine, E-Motion 180, on May 1. The engine, boasting 180 hp and 390 Nm of torque, is the most powerful electric outboard available. The campaign aims to attract recreational boaters through online channels and trade publications. Vision Marine is enhancing its distribution network to meet anticipated demand in North America, Australia, and Europe. The E-Motion offers zero emissions, significant cost reductions, and a unique boating experience, marking a pivotal moment in recreational boating.
Vision Marine Technologies (Nasdaq: VMAR) will launch an outreach program on May 1 to promote its innovative 180 hp electric E-Motion powertrain system. The global marketing campaign aims to educate OEMs and consumers about its advantages, including zero emissions and significant cost reductions in fuel and maintenance. CEO Alexandre Mongeon emphasized the system's balance of power, efficiency, and cost, while also noting partnerships with established marketing agencies to enhance visibility. The company aims to disrupt the traditional boating market with this environmentally friendly technology.
Vision Marine Technologies (NASDAQ:VMAR) will present at the Planet MicroCap Showcase: VIRTUAL on April 21, 2021, at 1:00 PM ET. CEO Alexandre Mongeon and CFO Kulwant Sandher will lead the presentation and answer investor questions.
Investors can register for the event and schedule 1-on-1 meetings via the conference platform. If unable to attend live, the presentation will be available for later viewing. Vision Marine focuses on developing electric propulsion systems and boats, aiming to transform the boating industry and reduce waterway pollution.
Vision Marine Technologies (Nasdaq: VMAR) announced significant growth milestones since its IPO in November 2020. The company emphasizes its position in the expanding electric boat market, supported by the National Marine Manufacturers Association's report of a 13-year high in U.S. boat sales. Key updates include the acquisition of MAC Engineering's technology, over 1,000 Letters of Intent for E-Motion powertrain systems, and a doubling of boat orders compared to last year. Vision's strategic partnerships and marketing efforts aim to enhance their market leadership and accelerate sales of environmentally friendly electric boats.
