Vision Marine Technologies Shatters Its Own Speed Record with its Bruce 22, Powered by Its Groundbreaking E-Motion™ Powertrain at Lake of the Ozarks Shootout 2021

Rhea-AI Summary

Vision Marine Technologies (Nasdaq: VMAR) recently showcased its groundbreaking E-Motion™ 180 hp electric outboard motor during the Lake of the Ozarks Shootout, where its Bruce22 electric boat achieved a record speed of 49 mph. This surpassed the previous record of 31 mph set in 2019, positioning Vision Marine as a leader in the electric boating industry. The company anticipates a significant market growth for electric outboard motors, projected to increase from US$4.5 billion in 2018 to US$12.3 billion by 2027.

Positive

• Achieved record speed of 49 mph with Bruce22, surpassing previous record of 31 mph.
• Significant market potential with electric outboard motors projected to grow from US$4.5 billion in 2018 to US$12.3 billion by 2027.
• E-Motion™ technology offers 90% reduction in fuel and maintenance costs compared to traditional engines.

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• None.

First on-water event to showcase the Company’s disruptive and uniquely powerful E-Motion™ 180 hp fully electric outboard motor

MONTREAL, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Vision Marine Technologies, Inc. (Nasdaq: VMAR) (“Vision Marine” or the “Company”), a global leader in the electric recreational boating industry serving both OEMs and consumers, is proud to announce its Bruce22 electric boat powered by its 180 hp fully electric E-Motion™ outboard motor set a new category speed record at the Lake of the Ozarks Shootout, the largest unsanctioned boat race in the US, which took place August 28-29, 2021.

“We believe that our fully electric technology provided a clear glimpse into the very near future,” said Xavier Montagne, CTO of Vision Marine Technologies. “We envision electric boats and outboard motors quickly becoming mainstream within the consumer markets, and the Lake of the Ozarks Shootout presented an exciting opportunity for Vision Marine to debut its E-Motion™ outboard motor.”

Electric boats made their debut at the Shootout in 2018, with a 25-mph run by Randy Vance in Calypso. In 2021, despite experiencing unusually warm temperatures, Vision Marine was able to achieve a speed of 49 mph, shattering its own record of 31 mph set in 2019, as the world’s fastest production electric boat. The Bruce 22, powered by our E-Motion™ electric outboard motor, achieved this milestone with Vision Marine co-founder and COO Patrick Bobby at the helm.

With a focus on power, speed and performance, Vision Marine is well positioned to take advantage of growing demand and an accelerating demand by OEMs and consumers to shift to environmentally friendly electric technology. The move toward more powerful engines with increased torque, and the expanded availability of pure electric optionality, is projected to increase the addressable market for electric outboard motors almost threefold, from US$4.5 billion in 2018 to US$12.3 billion in 2027. 

Key Features of Vision Marine’s Proprietary E-Motion™ Technology:

• Dramatic increase in efficiency, torque, power, and consumer experience.
• Exceptionally fast charging capabilities.
• Noiseless engine with minimal vibration.
• Sustainable solution with zero emission.
• E-Motion™ delivers an exhilarating experience due to its high torque to horsepower ratio
• 90% reduction in fuel and maintenance cost versus traditional ICE powered boats

“We are absolutely thrilled with the performance of our Bruce 22 powered by our E-Motion™ electric powertrain at the Lake of the Ozarks Shootout,” said Alexandre Mongeon, CEO of Vision Marine Technologies. “One of the largest boating events in the nation, the Shootout provided a tremendous platform to showcase our electric technology to the boating community.”

Named one of the nation’s eight “must-see” boating events according to Powerboat Magazine, the Shootout took place for the ninth year at Captain Ron’s Bar & Grill in Sunrise Beach. The event, now in its 33^rd year, raises funds for eight Lake area rescue teams and numerous other charitable organizations.

About Vision Marine Technologies, Inc.

Vision Marine Technologies, Inc. (Nasdaq: VMAR), strives to be a guiding force for change and an ongoing driving factor in fighting the problems associated with waterway pollution by disrupting the traditional boating industry with electric power, in turn directly contributing to zero pollution, zero emission and a noiseless environment. Our flagship outboard powertrain (“E-Motion™”) is the first fully electric purpose-built outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design utilizing extensive control software. Our E-Motion™ and related technologies used in this powertrain system are uniquely designed to improve the efficiency of the outboard powertrain and, as a result, enhance both range and performance. Vision Marine continues to design, innovate, manufacture, and sell handcrafted, high performance, environmentally friendly, electric recreational power boats to customers. The design and technology applied to our boats results in far greater enhanced performance in general, higher speeds, and longer range. Simply stated, a smoother ride than a traditional internal combustion engine (ICE) motorboat.

Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are outside of Vision Marine’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Vision Marine’s Annual Report on Form 20-F, filed with the U.S. Securities and Exchange Commission (SEC) for the year ended August 31, 2020, as such factors may be updated from time to time in Vision Marine’s periodic filings with the SEC. Any forward-looking statement in this press release speaks only as of the date of this release. Vision Marine undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. https://visionmarinetechnologies.com.

Investor and Company Contact:

Bruce Nurse
Vision Marine Technologies, Inc.
(800) 871-4274
bn@v-mti.com 

Dave Gentry
RedChip Companies Inc.
800-RED-CHIP (733-2447) or 407-491-4498
dave@redchip.com

 

FAQ

What record did Vision Marine Technologies set at the Lake of the Ozarks Shootout?

Vision Marine Technologies set a record speed of 49 mph with its Bruce22 electric boat.

What is the projected growth of the electric outboard motor market?

The electric outboard motor market is projected to grow from US$4.5 billion in 2018 to US$12.3 billion by 2027.

What technology powers the Bruce22 electric boat?

The Bruce22 is powered by Vision Marine's E-Motion™ 180 hp fully electric outboard motor.

When did Vision Marine Technologies achieve this record?

The record was achieved during the Lake of the Ozarks Shootout held on August 28-29, 2021.

Who was at the helm of the Bruce22 during the record-setting run?

Patrick Bobby, co-founder and COO of Vision Marine Technologies, was at the helm.