LOS ANGELES, CA - August 15, 2025 (NEWMEDIAWIRE) - Vision Marine Technologies (NASDAQ: VMAR), a leader in premium on-water experiences and owner of Florida-based dealership network Nautical Ventures, announced Nautical Ventures has signed a Letter of Intent with Nimbus Boats USA to exclusively distribute Nimbus powerboats on Florida's West Coast. The agreement, expected to be finalized by March 31, 2026, would authorize Nautical Ventures to promote, sell and service Nimbus's Tender, Commuter, Weekender and Coupe series beginning August 1, 2025. The move aims to broaden Vision Marine's product portfolio, strengthen its Florida presence and capture demand in the fast-growing adventure-style boat segment. Florida remains the largest U.S. market for new powerboats, engines and accessories, generating $6.4 billion in 2023 sales. The Nimbus deal follows Vision Marine's June 2025 acquisition of Nautical Ventures, creating North America's first electric boat propulsion and multi-brand retail company.
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About Vision Marine Technologies Inc.
Vision Marine Technologies Inc.is a technology company specializing in high-voltage electric propulsion systems for the marine industry. The Company's flagship product, the E-Motion(TM) 180E, is a fully industrialized high-voltage electric outboard system for recreational boating, validated through partnerships with leading industry players. With the recent acquisition of Nautical Ventures Group, Vision Marine has expanded its sales and service network on the East Coast of the United States. Through Nautical Ventures' multi-brand retail operations, Vision Marine now offers both traditional internal combustion engine (ICE) boats and next-generation electric propulsion solutions, providing a full range of products to meet the current and evolving needs of recreational boaters.
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Forward Looking Statements
Certain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law.
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