MONTREAL, April 20, 2021 (GLOBE NEWSWIRE) — Vision Marine Technologies, Inc. (Nasdaq: VMAR) (“Vision” or the “Company”), a leader in transforming the traditional boating market by designing and manufacturing environmentally friendly and highly efficient electric propulsion systems and boats, announced the unveiling of its first fully electric E-Motion powertrain to OEMs and consumers, through a global marketing campaign, which officially begins May 1.
“Despite being delayed due to past COVID 19 related shutdowns, we have now achieved an excellent balance between the power, functionality, efficiency, range and cost that OEMs and consumers alike have been seeking and which has not previously been available in the market,” said Alexandre Mongeon, CEO and co-founder of Vision. “With 180 hp and 390 Nm of torque, the E-Motion powertrain has surpassed our expectations in every aspect. We are confident that Vision Marine has the most powerful electric outboard engine available on the market.”
Vision Marine’s go-to-market strategy is dual purposed. Initially, we will offer customers the ability to pre-order the E-Motion 180 so they can secure a unit within six months. To achieve this, Vision has partnered with Nerd Marketing, an established and well known marketing agency with a proven track record for bringing innovation to the marketplace. Key components of our strategic initiative involved securing prime advertisements in significant trade publications and establishing a strong presence amongst recreational boaters through online social platforms including Google, YouTube, Amazon, Instagram, Facebook, as well as industry related websites and niche communities.
In addition to the ongoing marketing campaign, Vision’s team is further developing its distribution channels to support the demand for parts and services throughout North America, Australia and in select countries in Europe. Our mandate is to disrupt the legacy ICE boat market with competitive green energy electric boats.
Key Feature of the E-motion Powertrain:
- Zero emissions
- Noiseless, odorless and smokeless
- Access to mobile application
- 24/7 monitoring of essential functions
- Sustainable solution
- 90% cost reduction in fuel and maintenance versus traditional ICE powered boats
- A truly unique boating experience.
“Vision Marine Technologies’ E-Motion powertrain is exactly the solution sought by eco-conscious consumers, communities located along waterways, and environmental regulators,” stated CTO Xavier Montagne.
Mr. Mongeon continued, “E-Motion is the world’s first purpose built, production ready 180 horsepower electric outboard engine. It eliminates environmentally harmful emissions, dramatically cuts down noise and wave generation, significantly reduces operating costs, and boasts the power and speed required by demanding OEMs and consumers alike. This is the perfect time and ideal inflection point to launch our effort to make consumers and boat manufacturers aware of the benefits of E-Motion as compared with traditional propulsion systems. With this inaugural marketing campaign, we are formally ushering in the beginning of a new era in the recreational boating experience.”
About Vision Marine Technologies
Vision Marine Technologies, Inc.’s business mandate is to change and be a contributing factor in fighting the problem of waterway pollution by disrupting the legacy boating industry with electric power, contributing to zero pollution, zero emission, and a noiseless environment.
Our flagship outboard powertrain (“E-Motion”) is the first fully electric 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 and extensive control software. Our E-Motion technologies used in this powertrain system are designed to improve the efficiency of the outboard powertrain and, as a result, increase range and performance.
Vision continues to design, innovate, manufacture, and sell our handcrafted, high performance, environmentally friendly, electric recreational powerboats to recreational customers. The design and technology applied to our boats results in far greater and enhanced performance, higher speeds, and longer range. Simply stated, a smoother ride and a safer and enhanced user experience than a traditional ICE motorboat.
The statements contained in this press release that are not historical facts are forward-looking statements. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are different to predict or quantify. 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 beyond Vision’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth under the caption “Risk Factors” in Vision’s Annual Report on Form 20-F, filed with the SEC on December 31, 2020, as such factors may be updated from time to time in Vision’s periodic filings with the SEC. Any forward-looking statement in this press release speaks only as of the date of this release. Vision 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
Investor Relations Contact:
Gateway Investor Relations
Sean McGowan and Tom Colton