Vision Marine provides update on E-Motion powertrain systems
Vision Marine acquired MAC Engineering's IP to strengthen nautical manufacturing applications.
Technology / IIoT
MONTREAL — Vision Marine Technologies, Inc., an electric boat manufacturer and propulsion systems company, provided an update on its corporate developments since the Company’s initial public offering in November of 2020.
“Since our IPO just three months ago, the Company has made tremendous strides in growing our existing business and furthering our reputation as a disruptive world class nautical technology company,” said Alex Mongeon, Co-Founder and Chief Executive Officer of Vision. Mongeon continued, “We believe the market for our E-Motion powertrain systems continues to expand. Vision’s technology positions us well to take advantage of what we believe is a continuing sea change increase in consumer demand, as well as the growing desire by consumers, regulators and municipalities to reduce the environmental impact associated with traditional internal combustion engines. With our recent strategic acquisition of MAC Engineering, Vision has acquired cutting edge next-gen technology and design teams which will expand our market leadership and competitive advantage for years to come.”
Recent Corporate Developments
- Acquired MAC Engineering’s intellectual property relating to marine outboard electronic systems. MAC is a designer of electric propulsion systems for automotive, industrial, military and nautical applications. MAC’s CEO Xavier Montagne, has joined Vision as Chief Technology Officer.
- Partnered with Tourism Quebec and Transport Canada to provide up to 30 electric boats for rental and water taxi operations along a 30 km section of waterways near the city of Montreal.
- Signed a purchase order with Boat Fix, Inc. enabling Vision to outfit its electric powerboat fleet with Boat Fix’s customized telematics devices as well as a monitoring software application and customer support services.
Mongeon added, “Our growing boat sales business both fuels further growth and serves as a highly effective showcase for our proprietary powertrain systems. We look forward to providing additional updates with more details on our progress as we are able to.”