Careful readers of GBA wil have noticed I dropped a picture of a racing boat that is electric.
Some very famous athletes like Tom Brady are getting involved in this racing league. I researched the boats I did find a penny stk that is involved but a better way to play the concept is...
Vision Marine Technologies Inc (
NASDAQ:VMAR)
The EV race isn’t just unfolding on the pavement … it’s very much seaborne, too, and VMAR is set to collect its first revenues from its proprietary PowerTrain battery technology this year.
The $12-billion boat battery battle is all about first-mover advantage, which in this case appears to go to VMAR, the boating tech company that has successfully developed the world’s most powerful marine electric powertrain (motor).
Vision Marine debuted its E-Motion 180 HP electric outboard motor with its proprietary PowerTrain technology in February and recently launched the new H2e Bowrider in partnership with Four Winns. Together, they have produced the
H2e Bowrider, the first all-electric series production bowrider on the market.
The E-Motion is the first fully electric, production-ready, high-performance 180 HP, which makes it the key market disruptor. With its proprietary technology, which includes the batteries, the engine and the software, Vision Marine’s E-Motion is now the only turn-key solution for boat manufacturers in its class. That’s a strong first-mover position to be in at the critical junction of a high-dollar energy transition.
Vision Marine’s (
NASDAQ:VMAR) business plan is to market its E-Motion Powertrain to Original Equipment Manufacturers (OEMs) rather than the public, and they have already received advance orders from Four Winns.
And investors are poised to see the company collect its first revenues from the PowerTrain battery technology this year.
The revenues don’t stop here, either. VMAR is also hitting up the $5-billion+ boat rental market, which it plans to flip fully electric. Its flagship electric boat rental outfit in Newport is annualizing $4 million in revenues with a 35% profit margin, according to the company, and now it's working to rapidly expand, rolling out two more locations this year and launching a franchise model.
By 2024, it’s full speed ahead with scaling. By the end of 2024, Vision Marine expects to be free cash-flow positive, and by 2025, it expects to have two profitable and growing divisions, after which the scaling will pick up the pace even faster.
The team has taken VMAR from a private company to a NASDAQ listing, successfully raising capital to develop the company’s proprietary technology and commercialize it, earning it the moniker “
Tesla of the Sea”.
