Vision Marine Technologies initiates first E-Motion™ Equipped Rental Operation expansion in Florida

Vision Marine Technologies Inc © Vision Marine Technologies

Vision Marine Technologies Inc. (NASDAQ: VMAR) ("Vision Marine" or the "Company"), a global leader and innovator within the performance electric recreational boating industry, is excited to announce a significant expansion in Riviera Beach, Florida this month through a strategic partnership with Blue Water Boat Rental, a leader in internal combustion engine boat rentals.

This move marks a key milestone in Vision Marine's strategic plan, reflecting our commitment to broaden the reach and impact of sustainable electric boating.

Strategic Location Boosting Year-Round Operations and Visitor Engagement

Our new operation in Riviera Beach, Florida, strategically positioned near the bustling Peanut Island - which drew over 9.1 million visitors in 2022 - benefits from Florida's year-round boating climate. This location, planned to open this month, not only promises continuous engagement with our rental customers but also ensures uninterrupted fleet and prototype operations throughout the year, ideal for our expansion plans and technological advancements.

E-Motion™ 180E Powertrain: A Game-Changer for Renters

A central aspect of this expansion is introducing the revolutionary E-Motion™ 180E Powertrain System to our renters, a first in Vision Marine's history. This aligns with our mission to lead the transition to electric boating, offering renters exclusive unparalleled access to this advanced technology.

"The opening of our first rental operation in Florida this month marks a significant milestone in our quest to transform the boating industry, and this is just the beginning," stated Alexandre Mongeon, CEO of Vision Marine.

"It would be an understatement to say we are excited about our partnership with Vision Marine. Many have given thought to the idea of how electric propulsion would work, but Vision Marine has actually developed and produced the technology that made this idea a reality. How cool is it that people will be able to put this exciting technology through its paces before buying their own electric outboard or boat? I knew after seeing their operations on the West Coast, as well as getting to better know the people behind the innovation, that this partnership is going to be a win-win-win situation for Blue Water, Vision Marine, and our mutual customers," stated Mark Pollio, CEO of Blue Water Boat Rentals

Diverse and Innovative Fleet Expansion

Vision Marine is thrilled to unveil a range of popular boat brands, now outfitted with our advanced 180E E- Motion™ Powertrain. This pioneering move offers customers an array of choices, including centre console boats, bowriders, and pontoons, all enhanced with E-Motion™ technology. Alongside these, our classic models like Fantails, Volts, and Vision Pontoons will continue to feature in our fleet. Our aim is to grow our fleet to 25 diverse boats, blending high-performance E-Motion™ equipped models with our traditional offerings, thereby showcasing the unique versatility and innovation of Vision Marine.

Riviera Beach, Florida: A Hub for Sustainable Transition and Innovation

Our partnership in Riviera Beach is a testament to our dedication to eco-friendly marine practices, marking a significant shift from gas-powered to electric boats. By combining our state-of-the-art electric propulsion technology with the operational expertise of Blue Water Boat Rental, we are redefining the standards in the marine rental industry.

Furthermore, this rental operation will serve as a vital hub for showcasing the 180E E-Motion™ Powertrain to potential customers and for ongoing development and testing of this innovative technology. This approach is expected to enhance sales growth and provide invaluable feedback for the continuous improvement of our electric marine powertrain technologies.