Vision Marine Technologies Inc. (NASDAQ: VMAR)

Vision Marine Technologies Inc. (NASDAQ: VMAR) is pairing its advanced electric technology platform, E-Motion 180™, with award-winning market access, creating an unmatched pathway to rapid industry adoption. With integration expertise across 24+ boat models, covering 80% of Nautical Ventures’ inventory, the company’s systems are ready for widespread deployment. Vision Marine has built strong strategic relationships with major OEMs, including white-labelling and licensing agreements, and continues to expand its manufacturing partnerships.

The company’s proprietary, patent-pending electric powertrain technology is supported by C$9.7 million in inventory and supplier deposits, plus an additional $66.4 million in inventory with Nautical Ventures.

 

Nautical Ventures, the 2024 winner of the Boating Industry Top 100 Dealership Award, provides nine high-volume retail locations, exclusive waterfront assets, and a 50,000+ client database, delivering accelerated access to customers along the Gulf and Atlantic coasts.

With revenue growing at over 22% CAGR in the past five years to approximately $100 million in 2024, Vision Marine is uniquely positioned to lead the electric marine revolution, combining cutting-edge technology, proven market traction, and unmatched retail reach.

The company is headquartered in Montreal.

Portfolio

E-Motion™ 180E Powertrain

Vision Marine’s core innovation is the E-Motion™ 180E, a high-voltage electric outboard propulsion system built for plug-and-play integration. The platform features a 45.36 kWh battery pack assembled in Nevada through Octillion Power Systems and supports over-the-air updates, digital diagnostics, and software-based safety controls.

The 180E system includes 13 patent-pending innovations such as cryptographic component authentication and overload protection. It has completed industrial validation through McLaren Engineering and is approved under California’s CORE Voucher Incentive Project, a clean equipment subsidy program.

With over 24 OEM-integrated boat platforms and installation infrastructure across Nautical Ventures’ network, Vision Marine is scaling deployments for recreational users.

Nautical Ventures Group

In June 2025, Vision Marine acquired Nautical Ventures Group, a Boating Industry 2024 Dealer of the Year and the world’s top Axopar dealer. This dealership, with more than $100 million in annual revenue, added nine retail locations in Florida, two of which are flagship waterfront showrooms, and strengthened the company’s internal combustion engine (ICE) and electric boat sales channels.

Nautical Ventures is a leading U.S. distributor of Highfield Boats. Its Fort Lauderdale location now serves as a dedicated showroom and integration hub for both electric and internal combustion tenders. The dealership also drives engagement through demo events, marketing campaigns, and a race team partnership with Shaun Torrente.

Strategic Partnerships and Innovation Visibility

Vision Marine supports academic initiatives that advance marine electrification awareness and talent development. Through its multi-year collaboration with the Université de Sherbrooke, the company provides mentorship, funding, and equipment to the Memphré Boat Racing team, enabling participation in global sustainability events such as the Monaco Energy Boat Challenge. These efforts reflect Vision Marine’s commitment to industry leadership, sustainability, performance, and long-term talent development.

Market Opportunity

According to the National Marine Manufacturers Association (NMMA), recreational boating remains a massive economic force in the U.S., with 2025 expenditures expected to surpass $55 billion. Although new powerboat sales dipped in 2024, NMMA projects a rebound in 2025 due to new product offerings and consumer demand. Pontoon boats and personal watercraft remain leading volume categories, segments where Vision Marine is already deeply embedded through its sales channels and electric powertrain offerings.

The global shift toward electrification presents a substantial growth opportunity. The inflatable boat market, including tenders, is forecast to double from $2 billion in 2023 to $4 billion by 2030. Meanwhile, the electric boat market is projected to exceed $2.5 billion by 2030, with 18%+ annual growth. California alone operates more than 4,400 commercial vessels, and, through the state’s CORE program (administered by the California Air Resources Board and funded via Cap-and-Trade), Vision Marine’s E-Motion™ 180E is now eligible for point-of-sale vouchers under the program, significantly reducing upfront costs for eligible fleet operators.

Leadership Team

Alexandre Mongeon, CEO and Director, has over 25 years of experience in the boating industry with a deep background in electrification and battery technology. He co-founded Vision Marine Technologies and oversees design, manufacturing, and production of the E-Motion™ platform. He is also a socially responsible entrepreneur and former world-class speedboat racer.

Raffi Sossoyan, Chief Financial Officer, has over 25 years of experience in business and finance, holding leadership roles in both private and public companies. He is a Chartered Professional Accountant (CPA).

Daniel Rathe, Chief Technology Officer, was promoted in July 2025 following the successful industrialization of the E-Motion™ 180E. He brings more than seven years of leadership in maritime energy systems, including high-profile projects like the electric Maid of the Mist boats in Niagara Falls. He holds a B.Sc. in Construction Management and is certified in high-voltage and IPC-JSTD protocols.