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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.
Vision Marine Technologies (Nasdaq: VMAR) announces its participation in the Lake of the Ozarks Shootout, the largest unsanctioned boat race in the US, on August 28-29, 2021. The company will unveil its new Bruce 22 electric boat paired with the E-Motion™ outboard motor, aiming to break its previous speed record. CEO Alexandre Mongeon and CTO Xavier Montagne emphasize the potential of their electric technology amidst growing demand for eco-friendly boating solutions. The company's E-Motion™ technology promises superior power, speed, and efficiency while significantly reducing fuel and maintenance costs.
Vision Marine Technologies (Nasdaq: VMAR) partners with Shaun Torrente Racing to pilot a 32’ Super-Sport Catamaran equipped with the company's cutting-edge E-Motion™ powertrain. This collaboration aims to set a world speed record for electric boats. Shaun Torrente's extensive racing experience is expected to enhance the boat's design and performance. Vision Marine is dedicated to reducing waterway pollution with its electric powertrain technology, contributing to a more sustainable boating industry.
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.
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