Vision Marine Technologies Powers into Commercial Growth Phase, Appoints Daniel Rathe CTO of Operations
Vision Marine Technologies (NASDAQ:VMAR) announced key organizational changes as it transitions from product development to commercial deployment phase. The company has promoted Daniel Rathe to Chief Technical Officer (CTO) following the successful completion of the E-Motion™ 180E high-voltage electric powertrain development.
The announcement follows Vision Marine's strategic acquisition of Nautical Ventures Group (NVG), which has demonstrated strong performance with a 5-year EBITDA CAGR exceeding 20%. Through NVG's network of nine dealers across Florida, VMAR aims to accelerate market penetration of its electric marine propulsion systems.
Additionally, the company announced the departure of COO/CTO Xavier Montagne following the completion of the E-Motion™ 180E industrialization, and the resignation of Board member Anthony E. Cassella, Jr. due to potential conflicts with his role at MarineMax.
Vision Marine Technologies (NASDAQ:VMAR) ha annunciato importanti cambiamenti organizzativi mentre passa dalla fase di sviluppo prodotto a quella di commercializzazione. L'azienda ha promosso Daniel Rathe a Chief Technical Officer (CTO) dopo il completamento con successo dello sviluppo del propulsore elettrico ad alta tensione E-Motion™ 180E.
L'annuncio segue l'acquisizione strategica di Nautical Ventures Group (NVG) da parte di Vision Marine, che ha registrato ottime performance con un CAGR EBITDA a 5 anni superiore al 20%. Attraverso la rete di nove concessionari di NVG in Florida, VMAR punta ad accelerare la penetrazione sul mercato dei suoi sistemi di propulsione marina elettrica.
Inoltre, la società ha comunicato la partenza del COO/CTO Xavier Montagne dopo il completamento dell’industrializzazione dell’E-Motion™ 180E, e le dimissioni del membro del consiglio Anthony E. Cassella, Jr. a causa di potenziali conflitti con il suo ruolo in MarineMax.
Vision Marine Technologies (NASDAQ:VMAR) anunció cambios organizativos clave mientras transita de la fase de desarrollo de producto a la de despliegue comercial. La compañía promovió a Daniel Rathe a Director Técnico (CTO) tras completar con éxito el desarrollo del tren motriz eléctrico de alta tensión E-Motion™ 180E.
El anuncio sigue a la adquisición estratégica de Nautical Ventures Group (NVG) por parte de Vision Marine, que ha demostrado un sólido desempeño con un CAGR del EBITDA a 5 años superior al 20%. A través de la red de nueve concesionarios de NVG en Florida, VMAR busca acelerar la penetración en el mercado de sus sistemas de propulsión marina eléctrica.
Además, la compañía anunció la salida del COO/CTO Xavier Montagne tras completar la industrialización del E-Motion™ 180E, y la renuncia del miembro de la junta Anthony E. Cassella, Jr. debido a posibles conflictos con su rol en MarineMax.
Vision Marine Technologies (NASDAQ:VMAR)는 제품 개발 단계에서 상용화 단계로 전환함에 따라 주요 조직 변화를 발표했습니다. 회사는 E-Motion™ 180E 고전압 전기 파워트레인 개발을 성공적으로 완료한 후 Daniel Rathe를 최고기술책임자(CTO)로 승진시켰습니다.
이번 발표는 Vision Marine이 Nautical Ventures Group (NVG)을 전략적으로 인수한 데 따른 것으로, NVG는 5년간 EBITDA 연평균 성장률(CAGR)이 20%를 초과하는 강력한 실적을 보여주었습니다. NVG의 플로리다 내 9개 딜러 네트워크를 통해 VMAR는 전기 해양 추진 시스템의 시장 침투를 가속화할 계획입니다.
또한, 회사는 E-Motion™ 180E 산업화 완료 후 COO/CTO인 Xavier Montagne의 퇴임과 MarineMax에서의 역할과 잠재적 충돌로 인해 이사회 멤버인 Anthony E. Cassella, Jr.의 사임을 발표했습니다.
Vision Marine Technologies (NASDAQ:VMAR) a annoncé des changements organisationnels majeurs alors qu'elle passe de la phase de développement produit à celle de déploiement commercial. La société a promu Daniel Rathe au poste de Directeur Technique (CTO) suite à l'achèvement réussi du développement du groupe motopropulseur électrique haute tension E-Motion™ 180E.
Cette annonce fait suite à l'acquisition stratégique par Vision Marine de Nautical Ventures Group (NVG), qui a affiché une solide performance avec un TCAC de l'EBITDA sur 5 ans supérieur à 20%. Grâce au réseau de neuf concessionnaires de NVG en Floride, VMAR vise à accélérer la pénétration de marché de ses systèmes de propulsion marine électrique.
Par ailleurs, la société a annoncé le départ du COO/CTO Xavier Montagne après la finalisation de l’industrialisation de l’E-Motion™ 180E, ainsi que la démission du membre du conseil d’administration Anthony E. Cassella, Jr. en raison de conflits d’intérêts potentiels avec son rôle chez MarineMax.
Vision Marine Technologies (NASDAQ:VMAR) gab wichtige organisatorische Veränderungen bekannt, während das Unternehmen von der Produktentwicklung in die Phase der kommerziellen Einführung übergeht. Das Unternehmen hat Daniel Rathe zum Chief Technical Officer (CTO) befördert, nachdem die Entwicklung des Hochvolt-Elektroantriebs E-Motion™ 180E erfolgreich abgeschlossen wurde.
Die Ankündigung folgt auf die strategische Übernahme von Nautical Ventures Group (NVG) durch Vision Marine, die mit einem 5-Jahres-EBITDA-CAGR von über 20% starke Leistungen gezeigt hat. Über NVGs Netzwerk von neun Händlern in Florida will VMAR die Marktdurchdringung seiner elektrischen Marineantriebssysteme beschleunigen.
Zusätzlich gab das Unternehmen den Weggang von COO/CTO Xavier Montagne nach Abschluss der Industrialisierung des E-Motion™ 180E bekannt sowie den Rücktritt des Vorstandsmitglieds Anthony E. Cassella, Jr. aufgrund möglicher Interessenkonflikte mit seiner Rolle bei MarineMax.
- Nautical Ventures Group acquisition provides strong commercial foundation with 20%+ EBITDA CAGR
- Successfully completed development and industrialization of E-Motion™ 180E powertrain
- Expansion through nine dedicated dealers across Florida
- Strategic transition from development to commercial deployment phase
- Loss of key executives with COO/CTO Xavier Montagne's departure
- Board member Anthony Cassella's resignation due to potential conflicts
- Significant organizational changes during critical commercial transition phase
Nautical Ventures acquisition and completion of current product development drive next stage of electric boating deployment
MONTRÉAL, QUEBEC / ACCESS Newswire / July 16, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a pioneer in high-voltage electric marine propulsion systems, today announced the promotion of Daniel Rathe to Chief Technical Officer ("CTO") of its operations. Since the acquisition of Nautical Ventures Group Inc. ("NVG"), Vision Marine has strategically focused on actively supporting the U.S. boat market through its network of nine dedicated dealers across Florida. Nautical Ventures, recognized for its robust sales performance and a 5-year EBITDA compound annual growth rate (CAGR) in excess of
This targeted support is designed to drive growth, strengthen dealer relationships, and capitalize on the vibrant Florida boating community - ultimately positioning the Company for long-term success in the U.S. market. This leadership appointment also coincides with the transition from the development stage of Vision Marine's E-Motion™ 180E high-voltage electric powertrain, marking the beginning of the Company's scale-up and deployment phase.
Vision Marine also announces the conclusion of Chief Operating Officer and Chief Technology Officer Xavier Montagne's contract. Mr. Montagne has completed his mandate following the successful industrialization and validation of the E-Motion™ 180E powertrain - a project he led from concept to commercialization. His work has laid the foundation for Vision Marine's entry into commercial deployment.
A seamless transition plan is already in place with the appointment of Daniel Rathe as CTO. Mr. Rathe, who worked under the close mentorship of Mr. Montagne for over two years, will lead this next chapter to boost the integration and deployment of Vision Marine's technology across Nautical Ventures' sales network.
Over the past two years, Mr. Rathe has played a critical role for the Company in Florida, coordinating technical operations, boat integrations, and testing of Vision Marine's E-Motion™ 180E high-voltage electric powertrain. Under his leadership, the Vision Marine Florida team will now concentrate its efforts on system conformity, installation, testing, and the establishment of high-voltage rigging bays across Nautical Ventures' prime locations. This expansion is designed to accelerate customer adoption of E-Motion™ powered electric boats, coupled with our expected market share gain, while promoting industry-leading support for electric boat deployments.
The E-Motion™ 180E high-voltage electric powertrain - the first fully industrialized solution of its kind in recreational marine-has now completed its development and industrialization stage, including rigorous validation with McLaren Engineering. This milestone fulfils the technical mandate led by Mr. Montagne and represents a significant inflection point in Vision Marine's evolution.
With the product development phase complete, Vision Marine is now focusing its resources on commercial implementation, sales, and services, utilizing Nautical Ventures' strategic sales and operational footprint to reach new customers and markets.
"Daniel's leadership and technical expertise, combined with the strong operational platform provided by Nautical Ventures, position Vision Marine to capitalize on the growing demand for electric marine propulsion," said Alexandre Mongeon, Chief Executive Officer ("CEO") of Vision Marine Technologies. "We are now entering the most exciting phase of our journey, bringing our technology to market at scale."
Board Update
Separately, Vision Marine Technologies announces the resignation of Mr. Anthony E. Cassella, Jr. from its Board of Directors, effective July 11, 2025. Mr. Cassella made the decision to step down in light of potential and perceived conflicts between his professional activities at MarineMax and his role on Vision Marine's Board.
"I've had the privilege of learning from one of the best," said Alexandre Mongeon, CEO of Vision Marine Technologies. "I sincerely thank Anthony Cassella for his unwavering support, exemplary leadership, and invaluable guidance during his tenure on the Board. His dedication has left a lasting impact on our organization, and I'm truly grateful for the opportunity to have benefited from his expertise."
The Company sincerely thanks Mr. Cassella for his valuable contributions to Vision Marine's mission and growth. Vision Marine remains fully committed to executing its strategic plan, which includes expanding both its high-voltage electric propulsion business and its multi-brand retail operations, offering internal combustion engine (ICE) boats and next-generation electric solutions through its Nautical Ventures network.
About Vision Marine Technologies Inc.
Vision Marine Technologies Inc. (NASDAQ: VMAR) is a technology company specializing in high-voltage electric propulsion systems for the marine industry. The Company's flagship product, the E-Motion™ 180E, is the first fully industrialized high-voltage electric outboard system for recreational boating, validated through partnerships with leading industry players.
With the recent acquisition of Nautical Ventures Group, Vision Marine has expanded its sales and service network on the East Coast of the United States. Through Nautical Ventures' multi-brand retail operations, Vision Marine now offers both traditional internal combustion engine (ICE) boats and next-generation electric propulsion solutions, providing a full range of products to meet the current and evolving needs of recreational boaters.
For more information, visit
https://investors.visionmarinetechnologies.com/
Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include Vision Marine's plans for commercial deployment, expansion of sales and service capabilities, and market adoption of its electric propulsion systems. These statements are subject to risks and uncertainties, including the Company's ability to execute its growth strategy, integrate new operations, and drive market adoption. Actual results may differ materially from those projected. Vision Marine undertakes no obligation to update forward-looking statements, except as required by law.
Investor Contact:
Bruce Nurse, Investor Relations
Vision Marine Technologies Inc.
(303) 919-2913
bn@v-mti.com
SOURCE: Vision Marine Technologies Inc
View the original press release on ACCESS Newswire
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