Vision Marine and Massimo Marine announce partnership for first commercial electric pontoon platform

Vision Marine Technologies and Massimo Marine announce production partnership for first commercial electric pontoon platform © Vision Marine Technologies

Vision Marine Technologies Inc. (the "Company", "Vision Marine", "we", "us", "our") (Nasdaq: VMAR), a pioneer in electric marine propulsion, has entered into a milestone partnership with Massimo Marine, the marine division of Massimo Group (Nasdaq: MAMO). This collaboration will produce a fully integrated 30-foot electric pontoon platform designed for commercial and recreational markets. As part of Vision Marine's strategic shift to offer complete electric boats directly to consumers, this partnership represents a key step in rapidly delivering high-quality electric marine products to market.

The U.S. pontoon boat market is a growing one. In 2023, pontoon boat sales reached 115,000 units, a 5% increase over 2022 (pontoonboatguy.com). This robust market growth reflects the demand for versatile and family-friendly watercraft. Vision Marine brings extensive expertise to this partnership, with years of experience successfully integrating electric propulsion systems into various boat designs. This unique knowledge ensures that the new electric pontoon platform will meet the highest standards of performance, efficiency, and reliability for both recreational and commercial use.

"This product is the result of years of requests from nautical bases and operators who have been asking for a reliable, turn-key electric solution," said Alexandre Mongeon, CEO of Vision Marine. "With this partnership, we aim to bridge the gap efficiently, delivering what the industry has long demanded. By combining our world-record-breaking, third party-tested technology with Massimo Marine's manufacturing capabilities, we're creating a solution that is as dependable as it is innovative."

Massimo Marine's advanced production facilities in Garland, Texas, are expected to play a pivotal role in delivering these electric pontoons to market efficiently and at scale. "We're proud to be partnering with Vision Marine's innovative propulsion solution in brining truly efficient electric propulsion systems to the commercial and recreational space," said David Shan, CEO of Massimo Group. "This collaboration showcases our shared commitment to innovation and sustainability, providing customers with high-performance electric pontoons through Vision Marine's factory-direct distribution along with our networks."

By offering a turn-key product through Vision Marine's direct-to-consumer approach and Massimo Marine's extensive distribution network, the Company and Massimo Marine believe that this partnership will greatly enhance its accessibility to electric boating solutions.

This collaboration is more than a production partnership—the Company and Massimo Marine believe that it's a leap toward transforming the marine industry. By addressing the growing demand for zero-emission solutions and offering eligibility for grants and incentives at city, state, and federal levels, this electric pontoon platform can position itself as cornerstone in sustainable marine transportation.