- More than a trillion dollars is being invested in clean-energy technologies worldwide
- Vision Marine Technology’s proprietary powertrains will be the inaugural electric motors installed on the Four Winns H2e Bowrider
- Order for E-Motion(TM) 180E outboard and powertrain systems marks beginning of transformative partnership with Wired Pontoons
The worldwide clean-energy movement is happening at an amazing rate, according to a recent NPR interview, with an estimated $1.7 trillion being invested in related technologies (https://ibn.fm/LxNBh). Vision Marine Technologies (NASDAQ: VMAR), a global leader and innovator within the performance electric recreational boating industry, is pioneering the clean-energy transition on the water, selling 100% electric boats, outboard motors and technology to the marine industry.
“Thing are moving at such an astonishing pace,” reported the NPR piece, which noted that “huge swaths” of the country are turning away from fossil fuels as an energy source and investing in other renewable energy sources. “An astonishing stat was this year, about $1.7 trillion worldwide was going to be invested in clean energy technologies — wind, solar power, electric vehicles, nuclear batteries — compared with $1 trillion on fossil fuels. So the amount of money going into it is just staggering. And we keep seeing these records broken.
“The International Energy Agency, for years, they would put out this forecast of how much wind, how much solar, how many electric vehicles they expect in the coming years,” the report continued. “And every year, it would turn out that they just way underestimated the speed of the transition. So it’s something that’s caught even the experts who study this for a living by surprise.”
Vision Marine Technologies is certainly part of this tide of green-energy transformation. In the last several weeks, the company announced the “landmark” delivery of its E-Motion(TM) Electric Powertrain technology to the production facility of Groupe Beneteau, Four Winns (https://ibn.fm/YqUVH). According to the company, these powertrains will be the inaugural electric motors installed on the Four Winns H2e Bowrider.
Calling the delivery “a strategic move to underscore the dawn of a new era in ecofriendly marine transport,” Vision Marine noted that the Four Winns boats will be showcased at the elite Dusseldorf boat show in Europe in January 2024. Recognized for presenting breakthroughs in the boating world, the show offers an ideal platform to highlight the exceptional capabilities and innovations of the E-Motion(TM) powered boats. After the show, stated the company, the E-Motion(TM) 180E equipped boats will be delivered to their ultimate owner, marking a significant milestone: the first-ever electric boats coming off the Four Winns production line destined for consumer ownership.
“The pioneering efforts of Groupe Beneteau and their dedicated production team in crafting a specialized assembly line for electric boats not only sets the course for the future but also fortifies Four Winns with a distinct advantage against any subsequent boat manufacturer venturing into electrification,” said Vision Marine CEO Alexandre Mongeon.
In addition, Vision Marine announced that it had received an initial purchase order from Wired Pontoons for its proprietary E-Motion(TM) 180E outboard and powertrain systems (https://ibn.fm/hyjJK). The order “marks the beginning of a transformative partnership,” VMAR officials noted, as Wired is committed to respond to the growing marine consumer demand for electric marine propulsion.
Wired has spent the last year extensively testing the performance of its pontoons equipped with Vision Marine’s systems, resulting in this inaugural order. “We are excited to collaborate with Vision Marine, starting with an order of 25 E-Motion systems,” said Wired president Curt Jensen. “Over the past 12 months, we’ve seen a decline in the demand for internal combustion engine pontoons, with our customers increasingly seeking ecofriendly alternatives. After evaluating various options, we found the E-Motion(TM) system to be the ideal fit for our clientele.”
Mongeon noted that the U.S. pontoon market is significant, and pontoon users are prime candidates for the E-Motion(TM) 180E. “Since 2021, several pontoon brands have been testing our systems, and we are honored that Curt Jensen’s Wired Pontoons has joined this pioneering group,” he said.
Vision Marine Technologies is in the business of designing and manufacturing electric outboard powertrain systems and related technologies. The company strives to be a guiding force for change and an ongoing driving factor in fighting the problems associated with waterway pollution by disrupting the traditional boating industry with electric power.
For more information, visit the company’s website at www.VisionMarineTechnologies.com.
NOTE TO INVESTORS: The latest news and updates relating to VMAR are available in the company’s newsroom at https://ibn.fm/VMAR
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