Montreal, Canada, August 24, 2021 – Vision Marine Technologies, Inc. (Nasdaq: VMAR) (“Vision Marine” or the “Company”), the global leader in the electric recreational boating industry serving both OEMs and consumers, today announced it will showcase its E-Motion™ 180hp fully electric powertrain on a Starcraft EX 22 foot pontoon boat at IBEX 2021, taking place September 28th to September 30th in Tampa, Florida.
Pontoon boats represent approximately 20% of the recreational boating market, with sales of pontoon boats growing between 3% to 4% annually, while other boating segment sales are increasing at a rate of 2% to 3%, according to the National Marine Manufacturers Association (http://www.nmma.org/). Stratview Research estimates the pontoon boat market is estimated to reach $2.5 billion by 2025.
“The boomer generation have been the biggest buyers of pontoon boats, continued Alexandre Mongeon. “With buyers demanding increased speed and performance,” our E-Motion™ 180hp fully electric powertrain provides the ideal solution. Vision Marine looks forward to showcasing the performance capabilities of our truly disruptive technology at IBEX this week.”
Sea trials of Vision Marine’s E-Motion™ 180hp fully electric powertrain outfitted on a Starcraft EX 22-foot pontoon boat reached a top speed of 36 mph, more than 50% faster than the average pontoon boat speed of 22 mph.
The International Boatbuilders’ Exhibition and Conference (IBEX), North America’s largest trade event for recreational marine industry professionals, is owned and produced by the National Marine Manufacturers Association (NMMA) and RAI Amsterdam.
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.
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. www.visionmarinetechnologies.com.