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Vision Marine Technologies Inc. Common Shares - VMAR STOCK NEWS

Welcome to our dedicated page for Vision Marine Technologies Common Shares news (Ticker: VMAR), a resource for investors and traders seeking the latest updates and insights on Vision Marine Technologies Common Shares stock.

Vision Marine Technologies Inc. (NASDAQ: VMAR) is a pioneering company in the electric marine propulsion industry, committed to revolutionizing the boating experience with sustainable, zero-emission power solutions. Headquartered in Montreal, QC, Vision Marine is dedicated to combating waterway pollution by introducing innovative electric powertrain systems, high-performance electric powerboats, and related technologies.

The company's flagship product, the E-Motion™ outboard powertrain, is a fully electric outboard motor that integrates advanced battery packs, inverters, and high-efficiency motors. This system is designed not only to offer a noiseless and waveless boating experience but also to deliver higher speeds, longer ranges, and smoother rides compared to traditional internal combustion engines.

Vision Marine operates two primary business segments: the sale and rental of electric boats. The company offers a range of handcrafted electric recreational powerboats, including models like Bruce 22, Fantail 217, and Volt 180. While the majority of revenue is generated from boat rentals in locations such as Canada, the USA, and other countries, the company's primary market remains the United States.

Recent Achievements:

  • Appointment of Raffi Sossoyan as CFO, bringing over 25 years of global financial and operational leadership experience.
  • Commissioning of a state-of-the-art lithium battery production facility in Pompignac, France, through its partner Neogy, enhancing the supply chain for high-quality, high-voltage batteries.
  • Development of a sophisticated test cell in collaboration with McLaren Engineering to measure the performance of the E-Motion™ 180E Electric Powertrain Systems.
  • Filing several key patents, including a Communication Cryptographic System, Control & Power Management Software, and a high-voltage marine battery pack, underscoring the company's commitment to technological innovation.
  • Strategic sale of one of its boat rental facilities in Newport Beach, California, to focus on advancing its core electric powertrain technology.

Vision Marine's dedicated research and development efforts are evident in their continuous filing of patents and introduction of new technologies. Their innovation extends to the development of a vehicle control unit (VCU) that maximizes the functionality of intelligent electric powertrains, enhancing both performance and safety.

The company's strategic focus on enhancing its manufacturing and production capabilities, combined with its commitment to sustainability, positions Vision Marine Technologies as a leader in the shift towards eco-friendly marine propulsion. Through partnerships, technological advancements, and a focus on design and craftsmanship, Vision Marine is reshaping the recreational boating industry for a more sustainable future.

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Vision Marine Technologies Inc. (NASDAQ:VMAR) has received an extension from the Nasdaq Hearings Panel to maintain its listing on the Nasdaq Capital Market. To regain compliance with Nasdaq's minimum bid price requirement, the company's board has approved a 1-for-9 reverse stock split of its common shares, effective October 8, 2024. Following the split, VMAR will continue trading under its existing ticker symbol with a new CUSIP number 92840Q202.

The reverse split aims to increase the per share market price to meet Nasdaq's $1.00 minimum bid price requirement. Every nine common shares will be consolidated into one, with proportionate adjustments made to outstanding equity awards, preferred shares, and shares issuable under equity incentive plans. No fractional shares will be issued, and shareholders will receive one whole common share for any fractional interest resulting from the split.

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Vision Marine Technologies (NASDAQ:VMAR) has launched its E-Motion™ 180e Inboard electric motor system, delivering 180hp continuous power at the propeller. This system expands Vision Marine's market reach, catering to a wider range of vessels including recreational boats, catamarans, sailboats, and more. The E-Motion™ 180e Inboard incorporates 95% of components from the successful E-Motion™ outboard motor, ensuring proven reliability and performance.

The global inboard engine market, valued at USD 1.5 billion in 2023, is projected to grow at a CAGR of 6.4% through 2032. Vision Marine's entry into this sector aligns with the increasing demand for sustainable, high-performance propulsion systems. The company will unveil the E-Motion™ 180e Inboard at the IBEX International Boat Show on October 2, 2024, showcasing its commitment to advancing electric propulsion in the marine industry.

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Vision Marine Technologies (Nasdaq: VMAR) has successfully closed its previously announced best-efforts offering of 3,400,000 common shares at $1.00 per share, raising gross proceeds of $3.4 million. The company plans to use the funds for working capital and patent application prosecution, with potential allocations for strategic acquisitions. ThinkEquity acted as the sole placement agent for this offering, which was conducted under Vision Marine's effective shelf registration statement. Vision Marine, a pioneer in electric marine propulsion, is known for its innovative E-Motion™ outboard powertrain system, which combines advanced battery technology with proprietary software to offer higher speeds and longer ranges in eco-friendly electric powerboats.

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Vision Marine Technologies (Nasdaq: VMAR), a leader in electric marine propulsion, has announced a $3.4 million offering of 3,400,000 common shares priced at $1.00 per share. The offering, expected to close on September 16, 2024, aims to raise funds primarily for working capital and patent applications. ThinkEquity is acting as the sole placement agent for this best-efforts offering. The company may also consider using part of the proceeds for strategic acquisitions or investments in complementary businesses or technologies, although no specific targets have been identified. This offering is being conducted under Vision Marine's shelf registration statement on Form F-3, which was declared effective on December 21, 2022.

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Vision Marine Technologies (NASDAQ:VMAR) has announced a strategic partnership with ePropulsion to power the innovative Phantom Plastic Boat. The Phantom, crafted using plastic rotomolding technology, will feature a customized electric ePropulsion system. This collaboration extends Vision Marine's decade-long relationship with ePropulsion, which has provided low-voltage propulsion solutions for their electric boats and rental fleet.

The Phantom will be available through select ePropulsion dealers, equipped with the 6kW Navy 6.0 Evo system. This partnership aims to offer a comprehensive, zero-emission boating solution, combining avant-garde design with proven propulsion technology. The collaboration is expected to increase the Phantom's exposure to consumers through ePropulsion's extensive distribution network, marking the first integration of a low voltage ePropulsion powertrain into such a product.

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Vision Marine Technologies (NASDAQ:VMAR) has announced a 15-for-1 reverse stock split effective August 22, 2024, to regain compliance with Nasdaq's minimum $1.00 bid price requirement. This follows a Nasdaq staff determination letter received on August 15, 2024, indicating non-compliance. The company plans to file a hearing request with Nasdaq to stay any suspension or delisting action.

Additionally, Vision Marine has initiated an exchange offer for its outstanding Series A Convertible Preferred Shares and warrants issued on December 21, 2023. The exchange aims to simplify the company's capital structure and reduce potential dilution. Warrant holders can receive twice the number of warrant shares in common shares and pre-funded warrants.

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Vision Marine Technologies (NASDAQ: VMAR) has announced a strategic partnership with JetRide, a members-only boat club in Florida. This collaboration aims to expand Vision Marine's presence in the growing electric boat rental market. JetRide's network spans 17 locations across Florida, offering a platform to showcase Vision Marine's E-Motion™ Electric Powertrain and other electric boating products.

The partnership aligns with the rising demand for sustainable and innovative boating experiences. It allows JetRide members to experience cutting-edge electric boating technology, promoting eco-friendly practices. The collaboration will debut in Palm Beach County, Florida, featuring electric bowriders, pontoons, and center consoles powered by Vision Marine's technology.

This initiative is part of Vision Marine's broader strategy to strengthen its market presence on the US East Coast, building on previous collaborations like the December 2023 partnership with BlueWater Rental in Palm Beach, Florida.

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Vision Marine Technologies (NASDAQ: VMAR) has filed its fifth patent, focused on a state-of-the-art Vehicle Control Unit (VCU) for its E-Motion™ 180E electric marine powertrain. This innovative VCU, developed in-house over five years, controls and monitors high and low voltage systems, managing over 12 components and 40 sensors. The company emphasizes its commitment to in-house development, which allows for rapid adaptability and continuous innovation, including over-the-air updates. Vision Marine aims to lead the marine industry with advanced, reliable, and efficient electric propulsion solutions.

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Vision Marine Technologies (NASDAQ: VMAR) has filed a patent for a new high-voltage marine battery pack on May 15, 2024. This innovative battery, designed specifically for their E-Motion™ Marine Powertrain Technology, promises enhanced performance, security, and ease of installation. Developed over five years, the battery uses advanced NMC cells and a sophisticated battery management system to meet the rigorous demands of electric boating. The waterproof design, inspired by traditional gas tanks, is suited for recreational boats and aims to accelerate electric powerboat adoption. The patent could significantly bolster Vision Marine's market position by controlling manufacturing processes and increasing revenue through OEM sales.

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Vision Marine Technologies Inc. (NASDAQ: VMAR) announces the filing of its 3rd patent for the Control & Power Management Software integral to the E-Motion™ HV Electric Powertrain. The software enhances torque capabilities, optimizing performance, safety, and user experience in electric boating. Developed after five years of research, the software exemplifies Vision Marine's expertise in electric boating and commitment to innovation in the rapidly growing electric boating market.

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FAQ

What is the current stock price of Vision Marine Technologies Common Shares (VMAR)?

The current stock price of Vision Marine Technologies Common Shares (VMAR) is $0.4859 as of October 4, 2024.

What is the market cap of Vision Marine Technologies Common Shares (VMAR)?

The market cap of Vision Marine Technologies Common Shares (VMAR) is approximately 2.4M.

What does Vision Marine Technologies Inc. do?

Vision Marine Technologies Inc. designs and manufactures electric outboard powertrain systems, electric powerboats, and related technology. The company also rents electric boats.

What is the E-Motion™ outboard powertrain?

The E-Motion™ outboard powertrain is a fully electric outboard motor that integrates advanced battery packs, inverters, and high-efficiency motors for a sustainable, high-performance boating experience.

Where does Vision Marine Technologies generate most of its revenue?

The majority of Vision Marine Technologies' revenue comes from its boat rental operations, primarily in the United States.

Who is the new CFO of Vision Marine Technologies?

Raffi Sossoyan, who has over 25 years of experience in global financial and operational leadership, was appointed as CFO effective March 1, 2024.

What are some recent achievements of Vision Marine Technologies?

Recent achievements include the commissioning of a lithium battery production facility in France, the development of a sophisticated test cell for the E-Motion™ 180E, and the filing of several key patents.

What partnerships has Vision Marine Technologies entered?

Vision Marine has partnered with Neogy for battery production and McLaren Engineering for the development of a test cell for high-voltage electric outboards.

What is the significance of Vision Marine's recent patent filings?

The recent patent filings, including a Communication Cryptographic System and a high-voltage marine battery pack, highlight Vision Marine's commitment to innovation and enhancing electric boating technology.

What strategic moves has Vision Marine Technologies made recently?

Vision Marine has strategically sold one of its boat rental facilities in Newport Beach to focus on advancing its electric powertrain technology and filed multiple patents for new innovations.

What is the focus of Vision Marine Technologies' innovation efforts?

Vision Marine focuses on developing high-performance, eco-friendly electric powertrain systems and enhancing the user experience through advanced technology and design.

How does Vision Marine contribute to sustainability?

Vision Marine contributes to sustainability by designing electric powerboats that offer zero pollution, zero emissions, noiseless operation, and a waveless water experience.

Vision Marine Technologies Inc. Common Shares

Nasdaq:VMAR

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2.39M
4.96M
394.66%
148.56%
2.56%
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