Vision Marine Inks Joint Development Agreement With Weismann Marine

Shivani Kumaresan
1 min read
0
In this article:

  • Vision Marine Technologies Inc (NASDAQ: VMAR) has signed a joint development agreement with Weismann Marine LLC to design and develop a lower unit assembly for its E-Motion 180 HP outboard propulsion system. The financial terms were not disclosed.

  • The parties intend to design an operational prototype for a lower unit designated "MK5", which will reduce power loss through the gear system, reduce hydrodynamic drag, and mitigate operational gear noise.

  • Weismann Marine will design, develop, procure materials, and produce lower unit prototypes for testing and evaluation.

  • The lower unit assembly, when completed, will be incorporated into the E-Motion powertrain through the agreement announced October 2021 with Linamar Corp (OTC: LIMAF) subsidiary McLaren Engineering.

  • Price Action: VMAR shares are trading higher by 17.2% at $5.45 on the last check Friday.

See more from Benzinga

Ā© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Advertisement

Recommended Stories