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Vision Marine Technologies Inc. Common Shares - VMAR STOCK NEWS

Welcome to our dedicated page for Vision Marine Technologies Common Shares news (Ticker: VMAR), a resource for investors and traders seeking the latest updates and insights on Vision Marine Technologies Common Shares stock.

Vision Marine Technologies Inc. (NASDAQ: VMAR) is a pioneering company in the electric marine propulsion industry, committed to revolutionizing the boating experience with sustainable, zero-emission power solutions. Headquartered in Montreal, QC, Vision Marine is dedicated to combating waterway pollution by introducing innovative electric powertrain systems, high-performance electric powerboats, and related technologies.

The company's flagship product, the E-Motion™ outboard powertrain, is a fully electric outboard motor that integrates advanced battery packs, inverters, and high-efficiency motors. This system is designed not only to offer a noiseless and waveless boating experience but also to deliver higher speeds, longer ranges, and smoother rides compared to traditional internal combustion engines.

Vision Marine operates two primary business segments: the sale and rental of electric boats. The company offers a range of handcrafted electric recreational powerboats, including models like Bruce 22, Fantail 217, and Volt 180. While the majority of revenue is generated from boat rentals in locations such as Canada, the USA, and other countries, the company's primary market remains the United States.

Recent Achievements:

  • Appointment of Raffi Sossoyan as CFO, bringing over 25 years of global financial and operational leadership experience.
  • Commissioning of a state-of-the-art lithium battery production facility in Pompignac, France, through its partner Neogy, enhancing the supply chain for high-quality, high-voltage batteries.
  • Development of a sophisticated test cell in collaboration with McLaren Engineering to measure the performance of the E-Motion™ 180E Electric Powertrain Systems.
  • Filing several key patents, including a Communication Cryptographic System, Control & Power Management Software, and a high-voltage marine battery pack, underscoring the company's commitment to technological innovation.
  • Strategic sale of one of its boat rental facilities in Newport Beach, California, to focus on advancing its core electric powertrain technology.

Vision Marine's dedicated research and development efforts are evident in their continuous filing of patents and introduction of new technologies. Their innovation extends to the development of a vehicle control unit (VCU) that maximizes the functionality of intelligent electric powertrains, enhancing both performance and safety.

The company's strategic focus on enhancing its manufacturing and production capabilities, combined with its commitment to sustainability, positions Vision Marine Technologies as a leader in the shift towards eco-friendly marine propulsion. Through partnerships, technological advancements, and a focus on design and craftsmanship, Vision Marine is reshaping the recreational boating industry for a more sustainable future.

News

Vision Marine Technologies Inc. (NASDAQ: VMAR) ‘Disruptive Force’ in Electrification of Recreational Boating

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Vision Marine Technologies Inc. (NASDAQ: VMAR) is featured in an editorial by NetworkNewsWire discussing the rise of electric boats and the transformation of the transportation industry. The editorial highlights the shift towards electric propulsion in boats, mirroring the trend seen in electric cars, and the potential disruption in the marine market.
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Vision Marine Unveils its Phantom Rotomolded Boat and Secures Exclusive Florida Distribution Deal

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Vision Marine Technologies Inc. unveils the Phantom, a rotomolded, recyclable boat at the Miami International Boat Show 2024, offering economic and environmental benefits. Engineered for efficiency, the Phantom is cost-effective, scalable, and seats up to 10 passengers. With a high-density polyethylene hull, the Phantom is durable and eco-friendly, setting a new standard in the boating industry.
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Vision Marine Technologies, Inc. Appoints Anthony Cassella, Chief Accounting Officer of MarineMax, to the Board of Directors

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Vision Marine Technologies Inc. appoints Anthony E. Cassella Jr., Executive Vice President Finance and Chief Accounting Officer of MarineMax, Inc., to its Board of Directors. The move highlights Vision Marine's commitment to innovation and corporate governance, benefiting from Cassella's extensive experience in finance, mergers, and acquisitions.
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Vision Marine Technologies Inc. Announces Close of $3.0 Million Private Placement of Convertible Preferred Shares and Warrants with Investissement Québec

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Vision Marine Technologies Inc. (NASDAQ:VMAR) has entered into a securities purchase agreement with the Government of Quebec, selling 3,000 convertible Series B Preferred Shares and warrants for gross proceeds of US$3.0 million. The shares are initially convertible into 2,857,142 common shares at a conversion price of US$1.05 per share. The Warrants have an exercise price of US$1.05 per share and will expire five (5) years from the date of issuance. The offering was made under Section 4(a)(2) of the Securities Act of 1933 and/or Rule 506(b) of Regulation D and has not been registered under the Act or applicable state securities laws.
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Vision Marine Technologies Inc. Closes Strategic Investment from the Government of Quebec, Through Investissement Quebec

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Vision Marine Technologies Inc. (NASDAQ:VMAR) announced that the Government of Québec is providing a financial contribution of up to 3 million US dollars in the form of a subscription to preferred shares. The investment aims at the development and commercialization of an electric propulsion system for outboard motors and electric boats. Vision Marine's CEO, Alexandre Mongeon, expressed pride in Investissement Québec's entry as a new shareholder, stating that the funding will enable the company to continue and accelerate its growth.
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Vision Marine Technologies Inc. Announces $3.0 Million Private Placement of Convertible Preferred Shares and Warrants

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Vision Marine Technologies Inc. (NASDAQ:VMAR) announced the sale of 3,000 shares of its non-dividend bearing Series A Preferred Shares and Warrants to purchase up to 2,857,142 of its common shares for aggregate gross proceeds of US$3.0 million. The Company also granted an option to purchase additional shares and warrants. The offering is expected to close soon.
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Vision Marine Technologies Initiates First E-Motion(TM) Equipped Rental Operation Expansion in Florida in Partnership with Blue Water Boat Rental

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Vision Marine Technologies Inc. (NASDAQ:VMAR) announces a strategic partnership with Blue Water Boat Rental in Riviera Beach, Florida, marking a significant expansion in the performance electric recreational boating industry. The new operation strategically positioned near Peanut Island aims to boost year-round operations and visitor engagement, introducing the revolutionary E-Motion™ 180E Powertrain System to renters, reflecting the company's commitment to sustainable electric boating.
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Vision Marine Technologies: Pioneering Electric Propulsion with Innovative Pontoon Integration

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Vision Marine Technologies Inc. (NASDAQ:VMAR) introduces the P Powerpack, a game-changing solution for the pontoon market. With annual sales of around 60,000 units, Vision Marine targets this new market segment, celebrating its first order from Wired Pontoons. The company's E-Motion™ electric outboard has been integrated into various pontoon brands since 2020, solidifying its leader status. The P Powerpack significantly reduces installation time and effort compared to traditional internal combustion engine setups, emphasizing the company's focus on ease of integration and versatility. The recreational pontoon market in the US is substantial and growing, with the pontoon market size exceeding USD 7.9 billion in 2022 and expected to witness an 8.3% CAGR from 2023 to 2032. The US recreational boat market, including pontoons, was valued at $17.31 billion in 2022, with projections to reach $28.54 billion by 2028, growing at a CAGR of 8.7%. Vision Marine's Powerpack is custom-engineered to seamlessly incorporate the 180E system into pontoon boats, tapping into this significant market.
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Vision Marine Technologies and 4ocean Launch a New "Buy One Pull One" Campaign to Eliminate Ocean Plastic

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Vision Marine Technologies Inc. (NASDAQ:VMAR) Announces Partnership with 4ocean for Clean Ocean Movement and 'Buy One Pull One' Campaign
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Vision Marine Technologies Announces Initial E-Motion™ 180E Electric Propulsion System Purchase Order from Wired Pontoons

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Vision Marine Technologies Inc. (NASDAQ: VMAR) has received an initial purchase order from Wired Pontoons for 25 units of the E-Motion™ 180E outboard and powertrain systems. This marks the beginning of a transformative partnership to meet the growing demand for electric marine propulsion in the recreational boating industry.
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FAQ

What is the current stock price of Vision Marine Technologies Common Shares (VMAR)?

The current stock price of Vision Marine Technologies Common Shares (VMAR) is $2.7 as of November 22, 2024.

What is the market cap of Vision Marine Technologies Common Shares (VMAR)?

The market cap of Vision Marine Technologies Common Shares (VMAR) is approximately 2.5M.

What does Vision Marine Technologies Inc. do?

Vision Marine Technologies Inc. designs and manufactures electric outboard powertrain systems, electric powerboats, and related technology. The company also rents electric boats.

What is the E-Motion™ outboard powertrain?

The E-Motion™ outboard powertrain is a fully electric outboard motor that integrates advanced battery packs, inverters, and high-efficiency motors for a sustainable, high-performance boating experience.

Where does Vision Marine Technologies generate most of its revenue?

The majority of Vision Marine Technologies' revenue comes from its boat rental operations, primarily in the United States.

Who is the new CFO of Vision Marine Technologies?

Raffi Sossoyan, who has over 25 years of experience in global financial and operational leadership, was appointed as CFO effective March 1, 2024.

What are some recent achievements of Vision Marine Technologies?

Recent achievements include the commissioning of a lithium battery production facility in France, the development of a sophisticated test cell for the E-Motion™ 180E, and the filing of several key patents.

What partnerships has Vision Marine Technologies entered?

Vision Marine has partnered with Neogy for battery production and McLaren Engineering for the development of a test cell for high-voltage electric outboards.

What is the significance of Vision Marine's recent patent filings?

The recent patent filings, including a Communication Cryptographic System and a high-voltage marine battery pack, highlight Vision Marine's commitment to innovation and enhancing electric boating technology.

What strategic moves has Vision Marine Technologies made recently?

Vision Marine has strategically sold one of its boat rental facilities in Newport Beach to focus on advancing its electric powertrain technology and filed multiple patents for new innovations.

What is the focus of Vision Marine Technologies' innovation efforts?

Vision Marine focuses on developing high-performance, eco-friendly electric powertrain systems and enhancing the user experience through advanced technology and design.

How does Vision Marine contribute to sustainability?

Vision Marine contributes to sustainability by designing electric powerboats that offer zero pollution, zero emissions, noiseless operation, and a waveless water experience.

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Vision Marine Technologies Inc. Common Shares

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