Montreal, Canada, November 21, 2022 – Vision Marine Technologies (NASDAQ: VMAR) (“Vision
Marine” or the “Company”), the global leader and innovator in electric transition of the recreational
boating industry, is pleased to announce it has executed a production contract with Neogy, a division of
Groupe Startec Energy, a French manufacturer of specialized batteries and systems.
The production contract provides for Vision Marine’s initial purchase of 240 of Neogy’s customized
batteries, which have been designed to the specifications of Vision Marine. The first installment of
batteries will be delivered immediately, with the final installment set for delivery by spring 2023. The
batteries will be installed in 120 full systems for Vision Marine’s E-Motion™ 180E propulsion system
being offered to OEMs. The high voltage, high density, lightweight batteries enable the E-Motion™ 180E
to perform at optimal functionality.
Vision Marine’s CEO and co-founder Alex Mongeon stated, “We have entered into this contract with
Neogy in anticipation of the commencement of commercial production of our E-Motion™ 180E
powertrain system, with such deliveries projected to commence in mid-2023. Neogy has given Vision
Marine tremendous support throughout the past year, and we are very excited to expand our
relationship with them.”
Global market leader Groupe Beneteau, along with Vision Marine, debuted the 2023 Four Winns H2E
runabout powerboat, its first product offering of their seminal partnership. Beneteau has publicly stated
that it expects deliveries of the H2E to commence in spring 2023, in addition to working on the
production of other electric models across its brand portfolio in partnership with Vision Marine.
"We are excited to be working alongside Neogy and its technical team for the development of our new
fully customized high voltage battery for the E-Motion™ 180E powertrain system. This signed production
contract will allow us to equip boats to be in production before next summer. It is the final result of a
long term co-working relationship, and I cannot wait to receive our first certified batteries,” stated
Xavier Montagne, Vision Marine’s CTO and COO.
"We are proud to gather all the expertise of the divisions of the Startec Energy industrial group around a
high added value joint project contributing to accelerate the electrification of the nautical and leisure
fields. With Vision Marine Technologies, Startec Energy intends to build a relationship of trust for a long-
term partnership. Our teams and I are looking forward to equipping their boats!” Thomas Debuisser,
CEO.
Neogy® has more than 20 years of experience in the design and production of high-performance
intelligent batteries from 100 Wh to several MWh. The company has a wide range of applications,
both stationary and on-board: industrial, medical, automotive, defense, aeronautics, space, etc.
Neogy® is part of the French technology group Startec Energy®, which is committed to the energy
transition. Neogy® capitalizes on the expertise of the companies with which it shares its
premises: Clairitec® and BMS PowerSafe®.
Clairitec is an electronic engineering specialized for more than 20 years in the design and manufacturing
of graphic displays, and in particular in programmable smart displays, as well as in energy conversion
electronics. As generalist design office above all, Clairitec has also developed its own brand of smart
chargers under the name of Selfenergy, a brand that specializes in energy conversion and has its own
design team.
BMS PowerSafe benefits from more than 20 years of experience in the design and production of Battery
Management Systems (BMS), intelligent core essential for the proper functioning, the life span and
safety of lithium batteries. French leader in its field, BMS PowerSafe offers Neogy expertise enabling it
to design ever safer and more efficient battery packs.
Gathered under Startec Energy, all the expertise of the group's divisions is complementary to bring the
most added value to each project.
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.
