Boisbriand, Quebec, April 26, 2024 — Vision Marine Technologies Inc. (the “Company”), a
pioneer in electric propulsion innovation, is pleased to announce the patent filing for its cutting-edge
Communication Cryptographic System technology, integral to the E-Motion™ Electric Powertrain
components on April 24, 2024. Enabled by high-capacity batteries, this key technology seeks to
enhance security for users, ensure the conformity of all system components, and deliver an elevated
boating experience.
The E-Motion™ Powertrain's unique design features components that operate as a decentralized
network, each performing its functions while interacting intelligently with others. The encrypted
communication protocol is designed to ensure that these interactions remain secure and impenetrable
to external interference, using a customized level of Advanced Encryption Standard (“AES”). The aim
of this unique feature is to enhance security for the user improving the conformity of all system
components, mitigating risks of malfunctions.
"Our commitment to innovation extends beyond performance enhancements to include significant
advancements in security and integrity of our systems," said Alexandre Mongeon, CEO of Vision
Marine Technologies Inc. "The System Communication Encryption is designed to not only protect our
technology from unauthorized modifications but also to ensure the reliability and adaptive behavior of
our E-Motion™ Powertrain across all operating conditions."
The integration of this advanced encryption technology into the powertrain's computing framework is
a critical component of the Company's strategy to lead the industry not only in performance but also
in technological system integration and deployment. This technological approach aims to protect the
proprietary technology of the E-Motion™ Powertrain while also safeguarding the data and operational
parameters from potential external tampering or breach threats and is a key component of high-
technology electric powertrain user enjoyment.
"Once we secure this patent, it will mark a pivotal moment for our industry, establishing a new
benchmark for the secure operation of advanced marine propulsion systems in an increasingly digital
world," remarked Xavier Montagne, Chief Technology Officer at Vision Marine Technologies Inc. "It
is imperative to highlight the crucial role security plays in driving the widespread adoption of high-
power electric marine propulsion systems."
This patent application is a testament to the Company’s foresight in addressing the evolving needs of
the high-tech communication system of the boating industry, designed to keep the Company at the
forefront of technological advancements in electric marine propulsion. It highlights the paramount
importance of security, not only in communication but also in safeguarding the integrity of all
components and ensuring the safety of users. The Company believes that these factors are critical for
any players looking to enter or advance in the high-voltage electric powertrain technology field,
underscoring the necessity of robust security measures in this rapidly evolving industry.
Vision Marine announces the completion of the sale of one of its boat rental locations
As previously reported, the Company signed a letter of intent on April 3, 2024 with EB Strategies Inc.
for the sale of one of its electric boat rental facilities located in Newport Beach, California for US$1
million. Effective today, the Company announces the closing of this transaction. A portion of the
proceeds from the sale will be used to apply for up to 24 patents related to the Company’s E-
Motion™ Powertrain technology. The Company anticipates completing the patent application filings
by the end of the 2024 calendar year. EB Strategies Inc. is a related party whose controlling
shareholder is a member of management of the Company’s boat rental operations.
This strategic sale does not mark the Company’s exit from the electric boat rental business as the
Company will continue to own and operate its electric boat rental facilities in Ventura, California and
Palm Beach, Florida. In addition, the Company is currently in the process of opening a new electric
boat rental facility in Dania Beach, Florida.
Resignation of Patrick Bobby as board member of Vision Marine Technologies
The Company announces the resignation of Mr. Patrick Bobby as a member of its Board of Directors
and as its Head of Performance & Special Projects, effective April 22, 2024. Mr. Bobby, who co-
founded the Company and has served on its board as well as in several senior management positions
since the Company's inception, has decided to pursue other projects. Mr. Bobby stated, "My decision
to resign from the Company’s Board of Directors is not the result of any disagreement with the
Company’s operations, policies, or procedures. I have appreciated the opportunity to serve on the
Board and wish the Company much success as it enters the next phase of its development."
Vision Marine Technologies respects Mr. Bobby’s decision and is deeply grateful for his years of
dedication, insight, and leadership that have significantly contributed to shaping the future of the
boating industry. The board and the entire team at Vision Marine wish Mr. Bobby the very best in his
future endeavors.
As previously announced, the Company is focused on recruiting members of the Board from the
boating or electric vehicle industry who can help guide the Company as it transitions from its
development phase to its commercialization and growth phase.
About Vision Marine Technologies, Inc.
Vision Marine Technologies, Inc. (NASDAQ: VMAR) epitomizes the marine industry’s shift towards
electric propulsion, offering the pioneering E-Motion™ outboard powertrain system. This innovative
technology represents a significant leap forward in marine propulsion, combining advanced battery
packs, inverters, and high-efficiency motors with proprietary software and assembly techniques.
Vision Marine’s commitment to eco-friendly electric powerboats is reshaping the recreational boating
experience, offering higher speeds, longer ranges, and smoother rides than traditional internal
combustion engine boats. With a focus on design, innovation, and craftsmanship, Vision Marine
continues to redefine recreational boating for a more sustainable future.
Forward-Looking Statements
This press release contains forward-looking statements within the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Such statements include predictions, expectations,
estimates, and other information that might be considered as future events or trends, not relating to
historical matters. These statements involve known and unknown risks, uncertainties, and other
factors that may cause actual results, performance, or achievements to differ materially from those
expressed or implied by such statements. Vision Marine’s Annual Report on Form 20-F for the year
ended August 31, 2023, and its periodic filings with the SEC provide a detailed discussion of these
risks and uncertainties. Vision Marine does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information, future events, or otherwise, as
required by law.
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
