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MONTREAL, June 22, 2021 (GLOBE NEWSWIRE) -- Vision Marine Technologies, Inc. (Nasdaq: VMAR) (“Vision Marine” or the “Company”), a global leader in the electric recreational boating industry serving both OEMs and consumers, is pleased to announce its participation in five of the world’s top upcoming boat shows.
Vision Marine will showcase its first fully electric E-Motion™ powertrain to OEMs and consumers at:
Maine Boat & Home Show
August 13-15, 2021
Newport International Boat Show
September 16-19, 2021
IBEX Tampa Bay
September 28-30, 2021
Ft. Lauderdale International Boat Show
October 27-31, 2021
Mets Trade Amsterdam
November 16-18, 2021
“We are excited about our upcoming attendance at these shows, where Vision Marine will be able to showcase to OEMs and consumers the most powerful electric outboard powertrain system available on the market – our proprietary E-Motion™ 180,” said Alexandre Mongeon, CEO and co-founder of Vision Marine. “The electric revolution that has swept the automotive industry is knocking at our door and major players are now investing in related electric solutions. We look forward to the opportunity to further educate consumers on the benefits of E-Motion™, as compared with traditional internal combustion engines (ICE) propulsion systems, a key step in accelerating general adoption and assuring significant long-term growth.”
Key Features of E-Motion™:
Power and efficiency
Noiseless, odorless & smokeless
Access to mobile application: 24/7 monitoring of essential functions
90% cost reduction in fuel and maintenance versus internal combustion engines
A unique boating experience.
Sales of outboard engines in the U.S. reached record levels during 2020. Outboard sales increased for the ninth consecutive year in 2020, jumping approximately 34% year-over-year to 329,500 units, the highest annual sales total since 2000, according to the National Marine Manufacturers Association (NMMA).
NMMA also reported that the trend in consumer demand for higher performance engines continued, led by engines 200+ hp outboard motors, which are comparable to the E-Motion™ 180hp. Such outboards account for 27% of total sales.
About Vision Marine Technologies, Inc.
Vision Marine Technologies, Inc., 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 our 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, our boats provide a smoother ride than a traditional ICE motorboat. https://visionmarinetechnologies.com
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. 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 SEC for the year ended August 31, 2020, 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’s 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.
Investor and Company Contact:
Vision Marine Technologies, Inc.
RedChip Companies Inc.
800-RED-CHIP (733-2447) or 407-491-4498