VMAR Vision Marine Technologies Inc

Vision Marine Technologies Inc. (NASDAQ: VMAR) (“Vision Marine” or the “Company”), a global leader and innovator within the performance electric recreational boating industry, is pleased to announce collaborative participation with Groupe Beneteau at the annual International Boatbuilders’ Exhibition & Conference (IBEX) in Tampa, Florida, from October 3-5, 2023.

Marking a year of strategic synergy, this partnership is a testament to the mutual commitment of both companies to innovate and redefine the boating industry, focusing on sustainability and performance. Vision Marine's E-Motion™ electric propulsion technology, known for its superior performance and zero emissions, is seamlessly integrated into the Four Winns H2e, underscoring Group Beneteau's commitment to environmental responsibility and technological advancement.

Alex Mongeon, CEO & founder of Vision Marine, commented, "Our continued collaboration with Groupe Beneteau is a significant step for our companies and the maritime industry. Together, we’re advancing the adoption of electric propulsion, and championing a new boating experience by providing a sustainable propulsion solution for our oceans and waterways."

Nick Harvey of Four Winns said, "Our ongoing commitment to innovation is crucial. The adoption of electric propulsion is a logical progression and contributes to Groupe Beneteau's ambition to reduce its CO2 emissions by 30% by 2030. Vision Marine is the ideal collaborator to help us complete this journey of transformation."

Boat manufacturers and attendees at IBEX will have the unique opportunity to witness the innovative outcomes of this partnership firsthand. The Four Winns H2e, outfitted with Vision Marine's groundbreaking electric propulsion system, will be exhibited and available for sea trials at Docks D26A and D26B, where two H2e Bowriders will be showcased. Inside the exhibition, Vision Marine will welcome attendees at booth 1-304.

For additional details, please visit: IBEX 2023 - Where Better Boats Begin

For more information or further inquiries, please contact Zach Crawford at zc@v-mti.com or 1-613-307-1177.

This announcement not only highlights the progress made in a year of partnership but also embodies the shared vision of Vision Marine and Groupe Beneteau to promote sustainability and ingenuity in the boating industry.

About Vision Marine Technologies Inc.

Vision Marine Technologies Inc. (Nasdaq: VMAR), 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, in turn directly contributing to zero pollution, zero emission and a noiseless environment. Our Flagship E-Motion™ 180E electric marine powertrain is the first fully electric purpose-built outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design utilizing extensive control software. Our E-Motion™ and related technologies used in this powertrain system are uniquely designed to improve the efficiency of the outboard powertrain and, as a result, enhance both range and performance. Vision Marine continues to design, innovate, manufacture, and sell handcrafted, environmentally friendly, electric recreational boats to customers. The design and technology applied to our boats results in far greater enhanced performance in general, higher speeds, and longer range. Simply stated, a smoother ride than a traditional internal combustion engine (ICE) motorboat.

About Groupe Beneteau

Founded 139 years in Vendee by Benjamin Beneteau, Groupe Beneteau is nowadays bolstered by an international presence of 22 production sites and a global sales network. Groupe Beneteau posted €1.5 billion turnover in 2022 and has a workforce of nearly eight thousand employees, mainly in France, United States, Poland, Italy, and Portugal.

A world leader, Groupe Beneteau's nine brands in its Boat Division offer more than 150 models of pleasure craft to meet the diverse needs and sailing projects of its customers, whether sailing or motoring, monohull, or catamaran.

Through its Boating Solutions Division, the Group is also involved in services covering daily or weekly boat hire, marinas, the digital sector, and financing.

Its Habitat Division is a major European player in outdoor accommodation. Its three brands offer a wide range of mobile homes. It has nine hundred employees split between six production sites in France and one in Italy. It posted a turnover of €257.2 million in 2022.

Forward-Looking Statements 

Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are outside of Vision Marine’s control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Vision Marine’s Annual Report on Form 20-F, filed with the U.S. Securities and Exchange Commission (SEC) for the year ended August 31, 2022, as such factors may be updated from time to time in Vision Marine’s periodic filings with the SEC. Any forward-looking statement in this press release speaks only as of the date of this release. Vision Marine undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. https://visionmarinetechnologies.com.

Investor and Company Contact: Bruce Nurse303-919-2913 or bn@v-mti.com