Montreal, Canada — November 20, 2023 — Vision Marine Technologies Inc. (NASDAQ:
VMAR), (“Vision Marine” or the “Company”), a global leader and innovator within the
performance electric recreational boating industry, is now steering its expertise towards the
flourishing pontoon market, which sees annual sales of around 60,000 units. In a strategic
move, Vision Marine introduces the P Powerpack, a game-changing solution offering ease of
installation for pontoon boats. This innovative approach significantly reduces the time and
effort required for installation compared to traditional internal combustion engine (ICE)
setups. As Vision Marine targets this new market segment, it celebrates its first order from
Wired Pontoons, a testament to the industry's growing interest in its technology. Since 2020,
Vision Marine has been at the forefront of integrating its E-motion™ electric outboard into
various pontoon brands, solidifying its status as a leader in the electric boating market.
The P Powerpack represents a pivotal development in Vision Marine’s product lineup,
emphasizing the company's focus on ease of integration and versatility. While the 180E
model, part of the state-of-the-art E-Motion™ Powertrain Technology suite, continues to lead
the electric propulsion market, the P Powerpack expands its applicability across a wide
range of boating platforms, starting with pontoons. This strategic move underlines Vision
Marine's dedication to making electric boating technology more accessible to manufacturers.
This latest innovation is poised to accelerate market adoption. Alex Mongeon, CEO of Vision
Marine, stated,
“We have engineered an even simpler integration method that is
both efficient and effective. We continue to innovate, bringing new
advancements to the market. We are on the cusp of a new era in
boating, and Vision Marine is laying the groundwork, demonstrating
that our systems are not only high-performing but will also be a
dominant force in the future of boating.”
The recreational pontoon market in the United States is substantial and growing. In 2022,
the pontoon market size exceeded USD 7.9 billion and is expected to witness an 8.3%
CAGR from 2023 to 2032. Specifically, 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%. The recreational segment alone accounted for 36% of the
pontoon market share in 2022. Additionally, the North America pontoon market generated
USD 4.8 billion in revenue in 2022, reflecting a surging interest in water-based recreational
activities. Vision Marine’s Powerpack is custom-engineered to seamlessly incorporate the
180E system into pontoon boats, tapping into this significant market.
The E-Motion™ system represents a comprehensive solution for boat manufacturers. It
features an integrated user interface, an efficient charger, and Vision Marine’s proprietary
marine-manufactured battery packs. A standout feature of the E-Motion™ system is its
ability to offer scalable energy architecture, accommodating 1 to 3 battery packs providing
43 to 129 kWh. This flexibility allows for customised power solutions based on specific
boating needs.
Vision Marine is committed to leading the charge in the marine electric propulsion sector,
demonstrating that sustainable boating solutions can go hand-in-hand with high performance
and efficiency.
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 E-Motion™ 180E
electric marine powertrain 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, environmentally friendly, electric recreational 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. For example, when Vision Marine describes the impact of E-Motion™ 180E equipped boats, 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, 2022, 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.
https://visionmarinetechnologies.com.
Learn More
Website: visionmarinetechnologies.com
Twitter: @marine_vision
Facebook: @VisionMarineTechnologies
Instagram: @visionmarine.technologies
YouTube: @VisionMarineTechnologies
Twitter: @marine_vision
Facebook: @VisionMarineTechnologies
Instagram: @visionmarine.technologies
YouTube: @VisionMarineTechnologies
Investor and Company Contact:
Bruce Nurse
(800) 871-4274
bn@v-mti.com
