Vision Marine files patent for electric boat power unit

MONTREAL - Vision Marine Technologies Inc. (NASDAQ:VMAR), a leader in electric marine propulsion systems with a market capitalization of $3.22 million, has filed a patent application for an innovative Outboard Power Control Unit (PCU) designed to enhance the operation of electric marine vessels. According to InvestingPro data, the company’s stock is currently trading near its 52-week low, reflecting recent market challenges despite maintaining a healthy current ratio of 2.88. The company’s latest development promises to improve the efficiency and reliability of electric boating through autonomous management of propulsion parameters and cooling operations.

The Outboard PCU utilizes a dual-CAN bus architecture to facilitate seamless communication with both internal and external components of the vessel. This design enables real-time autonomous control of the electric motor, aiming to boost performance while upholding stringent safety standards and allowing for scalability. The company generated revenues of $2.11 million in the last twelve months, with a gross margin of 34.28%, demonstrating its ability to maintain profitable operations in this specialized market segment.

A key aspect of the new Outboard PCU is its distributed control system, which simplifies the complexity often found in electric marine propulsion. Its modular approach allows for easy integration and deployment by original equipment manufacturers (OEMs), aligning with Vision Marine’s strategy to provide turn-key, industrialized electric powertrain products.

The Outboard PCU’s autonomous control of power, torque, and cooling is geared toward optimizing performance across various conditions, offering boaters a responsive and efficient experience. Safety features include a 12V power-state electronic protection circuit that prevents a complete power-down of the motor until safe temperature thresholds are met, thereby ensuring continuous safe operation and extending the lifespan of components.

Additionally, the PCU’s dynamic adjustments in torque and cooling based on battery capacity and temperature feedback not only reduce energy consumption but also prolong motor life. Its capability for remote diagnostics and firmware updates via the external CAN bus minimizes downtime and provides ease of maintenance.

This technological advancement is set to bolster Vision Marine’s E-Motion™ propulsion line, offering a comprehensive solution that balances performance, simplicity, and safety for the electric marine market. The company, known for its E-Motion 180e powertrain, continues to focus on zero-emission propulsion solutions for boat manufacturers globally.

The information in this article is based on a press release statement from Vision Marine Technologies. The company’s forward-looking statements are subject to various risks and uncertainties, and actual results may differ materially. Vision Marine has not provided specific details on the expected market impact of the new Outboard PCU or its potential influence on shareholder value. InvestingPro analysis reveals that while analysts anticipate sales growth in the current year, the company is currently burning through cash at a notable rate. For deeper insights into Vision Marine’s financial health and growth prospects, including 16 additional exclusive ProTips, consider exploring InvestingPro’s comprehensive analysis tools.

In other recent news, Vision Marine Technologies Inc. announced a series of strategic developments aimed at bolstering its position in the electric marine propulsion industry. The company has secured approximately $5.8 million through a private placement of securities, which will be used for working capital and general corporate purposes. This move is part of Vision Marine’s ongoing efforts to innovate in the electric recreational boating sector. Additionally, Vision Marine has launched a stock repurchase program, authorized to buy back up to 5% of its issued and outstanding common shares, highlighting its commitment to reinforcing shareholder value.

Further expanding its strategic direction, Vision Marine filed a patent application for a new Battery Authentication Encryption Technology to enhance the security and data analysis capabilities of its E-Motion™ Electric Powertrain system. In a significant partnership, Vision Marine has teamed up with Massimo Group to produce a 30-foot electric pontoon platform, targeting both commercial and recreational markets. The collaboration aims to meet the growing demand for environmentally friendly watercraft.

On the corporate governance front, Vision Marine appointed finance expert Pierre-Yves Terrisse to its Board of Directors, a move expected to strengthen the company’s financial strategy. These developments reflect Vision Marine’s dedication to advancing electric propulsion technology and maintaining a leadership position in sustainable marine solutions.

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