Vision Marine Technologies (NASDAQ: VMAR), an innovator in the performance electric recreational boating industry, has entered into a “groundbreaking” partnership with Nautical Ventures Marine Group. According to the announcement, partnership includes an initial purchase order (“PO”) for 50 of VMAR’s innovative rotomolded, recyclable boat, known as the Phantom. In addition, the agreement establishes an exclusive distributorship arrangement between the two companies, identifying Nautical Ventures Marine Group, a premier provider of maritime products and services, as the sole distributor of the Phantom in the growing South Florida market. The company observed that the Phantom has already established a reputation for its sustainable design and ecofriendly footprint, being constructed from fully recyclable materials; delivery of the 50 units of the Phantom will made over the next four months. “Vision Marine Technologies is excited to partner with Nautical Ventures Marine Group, a company that shares our commitment to innovation, quality, and environmental stewardship,” said Vision Marine Technologies CEO Alex Mongeon in the press release. “This partnership and the initial order of 50 units are a testament to the Phantom’s unique value proposition and our shared vision for a greener future in maritime recreation.”
Vision Marine also noted that it has received notification that the company is not in compliance with NASDAQ’s minimum bid price requirement. The company has been granted a compliance period of 180 calendar days to regain compliance with the requirement.
To view the full press release, visit https://ibn.fm/IX8il
About Vision Marine Technologies Inc.
Vision Marine Technologies epitomizes the marine industry’s shift toward electric propulsion, offering the pioneering E-Motion(TM) outboard powertrain system. This innovative technology represents a significant leap forward in marine propulsion, combining advanced battery packs, inverters and high-efficiency motors with proprietary software and assembly techniques. Vision Marine’s commitment to ecofriendly electric powerboats is reshaping the recreational boating experience, offering higher speeds, longer ranges and smoother rides than traditional internal combustion engine boats. With a focus on design, innovation and craftsmanship, Vision Marine continues to redefine recreational boating for a more sustainable future. For more information about the company, please visit www.VisionMarineTechnologies.com.
NOTE TO INVESTORS: The latest news and updates relating to VMAR are available in the company’s newsroom at http://ibn.fm/VMAR
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