MONTREAL, August 29, 2022 – Vision Marine Technologies (NASDAQ: VMAR) (“Vision Marine” or the “Company”), the global leader in the electric recreational marine propulsion industry serving OEMs, is proud to announce an historic milestone in the boating industry by shattering the 100 MPH speed barrier on an electric watercraft. The event, in it’s 34th year, catered to a plethora of onsite and online video streaming viewers.
A consortium of several important world renowned players needed to come together to achieve such a feat. Vision Marine, in partnership with Hellkat Powerboats, gave birth to the V32, a 32′ catamaran hull specifically designed to accommodate the necessary battery banks to power a pair of Vision Marine’s flagship E-Motion™ electric outboards with the sole intention of breaking new ground.
The V32 was entirely designed from the ground up by Vision Marine’s internal engineering team and Shaun Torrente of Shaun Torrente Racing (“STR “), who was also in charge of rigging, setting up, and testing the V32 in Florida throughout the course of several months.
To power this behemoth, a uniquely designed battery pack was developed by Vision Marine in partnership with Octillion Power Systems, which also acted as a sponsor for this race. Nextfour Solutions supplemented the vessel’s monitoring systems, and Pat Weissman of Weissman Marine engineered the outdrives.
Vision Marine Xavier Montagne CTO & COO stated: “The results we observed from this weekend’s race are only the tip of the iceberg. This accomplishment is the fruit of many years of close technical
collaboration with our European and American partners. We worked hard on optimizing the electric motors, the 700V batteries, the cooling circuitry, and the hardware and software integration, all of which are quintessential to our success as a leader in the electric marine propulsion industry.”
STR’s Shaun Torrente added: “It has been an amazing experience to push the boundaries of what people thought was impossible. In the past two days, we proved that the limits of electric propulsion are only in the minds of those that have not followed Vision Marine and our project. With this result, they cannot pretend we are not here anymore.”
Paul Beach, President of Octillion Power Systems, stated: “We are at the forefront of revolutionizing the boating industry; we are pushing the limits with our innovative technology. I praise Octillion’s engineering team, who worked closely with Shaun Torrente and Vision Marine’s in-house R&D team to design a state of the art battery pack to nourish the E-Motion™ propulsion system rigged on the V32. ”
Vision Marine’s focus lies not only in racing. Its management strongly believes the commercial boating market is in dire need of a performance electric outboard that can accommodate a wide range of vessel applications.
In July 2022, Vision Marine Technologies (VMAR-Nasdaq) entered into a partnership with Groupe Beneteau (BEN-Euronext), which will integrate the disruptive E-Motion™ onto various models across Groupe Beneteau’s brand portfolio. The first collaboration between the two companies will be the launch of the world’s first fully electric powerboat, the sporty and elegant 22″ Four Winns H2 OB runabout. The two companies will present the Four Winns H2 at the upcoming IBEX boat show in September 2022 in Tampa, Florida.
About Vision Marine Technologies, inc.
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. For example, when Vision Marine discusses the expectations for the scaled production of its products, the expected additon of new rental locations and the related benefits, and the expected benefits of its partnership with Groupe Beneteau , it is using forward-looking statements. 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, 2021, 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
