The Limestone Boat Company has announced the successful completion of sea trials for its Aquasport 2100CC, the first fully electric center console boat made in the U.S. Utilizing Vision Marine's E-Motion™ powertrain, the boat achieved a top speed of 38 MPH and an estimated operating time of over two hours at 22 MPH. The company plans to commence serial production by early Q2 2023 and will place an initial order for 25 E-Motion™ engines. The trials confirmed the potential of electric propulsion without sacrificing performance, positioning Limestone as a leader in the electric boating sector.
The Limestone Boat Company (OTCQB: LMSBF) reported a significant production growth of over 51% in Q1 2022 compared to Q4 2021. This surge highlights their commitment to meeting strong consumer demand, particularly for the high-margin Aquasport 2300CC & 2500CC models. The company added a new dealer, raising the total dealer count to 27, and plans to double production capacity by Q3 2022. Additionally, the Limestone L200R Runabout has received positive reviews. The company is set to test the Aquasport 2100CC with electric outboard technology soon, aiming to lead in the EV boating sector.
The Limestone Boat Company has announced the expansion of its dealer network by adding three new U.S. dealers for its Aquasport Boats line, bringing the total to 29 locations across 26 dealers. The new dealers are located in Sarasota, FL; Charleston, SC; and Coopersville, MI. This expansion is part of the company's strategy to enhance market presence and meet rising demand while managing production effectively. The company expects continued growth in production and shipments, with a focus on fulfilling a large order backlog.
The Limestone Boat Company (OTCQB: LMSBF) has appointed Ryan Lupton as its new Interim Chief Financial Officer. This decision comes as the company focuses on expanding production at its Tennessee facility and plans to search for a full-time CFO for that location. Lupton has previously provided financial services to the company through BDO. The company expressed gratitude towards former CFO Pete Pigott for his contributions. Limestone Boat is known for its brands, including Aquasport and Limestone Boats, and operates from Collingwood, Ontario.
Limestone Boat Company has commenced trading on the OTCQB under the ticker symbol LMSBF, expanding its market reach to U.S. investors. The CEO, Scott Hanson, highlighted strong demand for their marine products and a significant order backlog at their Tennessee manufacturing facility. This listing allows both Canadian and U.S. investors to access the company's shares, complementing its existing TSXV listing under the symbol BOAT. The company emphasizes its commitment to meet growing demand and scale production.