Vision Marine Technologies Announces Closing Of Common Share Offering

For over a decade, Vision Marine Electric Boats has relied on ePropulsion for its cutting-edge low-voltage boat propulsion solutions across its product line and to energize its rental boat fleet. This enduring collaboration underscores Vision Marine's commitment to quality and the dependability of ePropulsion's equipment, which has powered over 385,000 boaters in demanding rental environments worldwide.

"At ePropulsion, we're delighted to continue growing our relationship with Vision Marine," said Tom Watson, President of ePropulsion Americas. "Our collaboration on the innovative Phantom marks an exciting new chapter in our partnership, and we're excited to help provide customers with a comprehensive, zero-emission boating solution."

This partnership will offer a comprehensive package for Vision Marine's new Phantom rotomolded boat, blending avant-garde design with proven propulsion technology. Equipped with the 6kW Navy 6.0 Evo system, the Phantom ensures consumers a reliable and high-performance solution. The new X series will also be available on the Volt, a fiberglass sister vessel to the Phantom. The phantom and Vision Marine Electric boats are available visionelectricboats.com.

"ePropulsion emerges as the ideal partner with its extensive expertise in electric propulsion," remarked Alexandre Mongeon, CEO of Vision Marine. "Vision Marine now presents a tested and dependable solution seamlessly integrated into the Phantom, ensuring outstanding performance. With a low-voltage system powering a fully plastic boat, this partnership offers an effortless and efficient solution for our clientele."

Aiming to provide a zero-emission boating experience to a broad audience and democratize access to electric boating, the extensive distribution network of ePropulsion, combined with its proven reliability in electric propulsion, will notably bolster the Phantom's exposure to consumers. This partnership marks the inaugural integration of a low voltage ePropulsion powertrain into such a product, showcasing over 100,000 hours of proven performance.

About ePropulsion ePropulsion was established in 2012 and is led by a team of technology entrepreneurs that are focused on developing uncompromising, superior products. Since the company launched its first electric outboard in 2014 it has fast become a force to be reckoned with in the electric propulsion market with a presence across Europe, the U.S. and Asia.

The company set out with a clear mission to become the global leader in marine electric propulsion systems and services. This pioneering, market-challenging brand is at the very forefront of the industry and is recognized across the world for its exceptional product quality, performance, and technological innovations.

About Vision Marine Technologies Inc.

Vision Marine Technologies Inc. (NASDAQ: VMAR) epitomizes the marine industry's shift towards electric propulsion, offering the pioneering E-Motion™ 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 eco-friendly 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.

Forward-Looking Statements

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include predictions, expectations, estimates, and other information that might be considered future events or trends, not relating to historical matters. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Vision Marine's Annual Report on Form 20-F for the year ended August 31, 2023, and its periodic filings with the SEC provide a detailed discussion of these risks and uncertainties. Vision Marine does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, as required by law.

Investor and Company Contact:

Bruce Nurse (303) 919-2913bn@v-mti.com

SOURCE: Vision Marine Technologies Inc