Vision Marine Technologies Inc Stock Price, News & Analysis

Vision Marine Technologies (Nasdaq: VMAR) announced a US$2 million purchase order for 25 E-Motion™ 180E outboard motors from The Limestone Boat Company. This marks Vision Marine's initial order and signifies a shift towards electric propulsion in the recreational boating industry. With the delivery expected in the fourth quarter of 2023, Limestone plans to integrate Vision Marine's powertrain into existing and upcoming models. The E-Motion™ system promises high performance without compromising the experience of traditional combustion engines.

Vision Marine Technologies, Inc. (Nasdaq: VMAR) achieved a significant milestone by breaking the 100 MPH barrier for electric watercraft, reaching a record speed of 109 MPH at the Lake of the Ozarks Shootout on August 28, 2022. This accomplishment, led by champion pilot Shaun Torrente, showcased the capabilities of Vision Marine's E-Motion™ electric propulsion technology, developed in collaboration with Hellkat Powerboats and Octillion Power Systems. The company aims to revolutionize the boating industry and reduce carbon emissions with its innovative electric solutions.

Vision Marine Technologies (NASDAQ: VMAR) reported significant fiscal Q3 2022 results, achieving 161% year-over-year revenue growth of CAD$2.01 million, driven by its Newport Beach boat rental operation. Operating losses narrowed to CAD$1.94 million from CAD$4.8 million last year, bolstered by a cash position of CAD$7.9 million and zero long-term debt. The company plans to expand rental operations and has partnered with Groupe Beneteau to advance its E-Motion powertrain, expected to generate substantial revenue by spring 2023.

Groupe Beneteau, a leader in recreational boating, has partnered with Vision Marine Technologies (NASDAQ: VMAR) to integrate high-power electric outboard motors into its boat models. This follows Beneteau's commitment to electric boating, showcased in their DELPHIA 11 model launched in March 2022. The first commercial offering powered by Vision Marine's E-Motion™ 180 hp system is expected under the Four Winns brand by spring 2023. The partnership aims to revolutionize boating with a 100% electric propulsion package, aligning with market demand for eco-friendly solutions.

Vision Marine Technologies (NASDAQ: VMAR) announced advancements in its E-Motion™ 180E electric outboard motor, currently under sea trials with major boat manufacturers. The company is responding to rising consumer demand for electric boating alternatives amid increasing fossil fuel prices. Vision Electric Boat Rental continues to grow, reporting a 27.7% increase in sales, with a fleet expansion from 22 to 30 boats. The company is also expanding its rental operations to Dania Beach, Florida, securing space for 25 electric boats. Vision Marine aims to lead the electric transition in the recreational boating industry.

Vision Marine Technologies (NASDAQ: VMAR) will present at the Planet MicroCap Showcase 2022 on May 4, 2022, at 2 PM EST in Las Vegas. Alan Gaines and Alex Mongeon will lead the presentation, engaging with investors and answering questions. The event aims to highlight Vision Marine's commitment to electrifying the recreational boating industry, promoting zero emissions and environmental sustainability. Investors can access the presentation via a webcast. For 1on1 meetings, attendees need to register in advance.

Vision Marine Technologies, Inc. (NASDAQ: VMAR) will present at the Planet MicroCap Showcase 2022 on May 4, 2022, at 2 PM EST in Las Vegas. Alan Gaines, Chairman, will lead the presentation and address investor questions. Attendees can register for 1-on-1 meetings and view the live webcast at the provided links. Vision Marine is a leader in electric boating technology, focusing on reducing waterway pollution with its innovative E-Motion™ outboard powertrain system, enhancing performance while promoting environmentally friendly recreational boating.

Vision Marine Technologies (NASDAQ: VMAR) has announced plans to expand its electric rental boat operation into Dania Beach, Florida. The new site will feature 25 electric boats as part of the Waves at Dania Beach development, which aims to enhance the local boating market. The company highlights its growing rental business, with its flagship operation in Newport Beach, California, having increased customer rentals from 8,000 in 2020 to 13,000 in 2021, generating $4.33 million in revenue. This expansion reflects Vision Marine's commitment to eco-friendly boating solutions.