Vision Marine partners with Hydrofin to enhance pontoon efficiency

MONTREAL - Vision Marine Technologies Inc. (NASDAQ:VMAR), a micro-cap marine technology company valued at $4.78 million with a strong balance sheet showing more cash than debt, announced Monday a partnership with Hydrofin to integrate patented hydrofoil systems into its pontoon boat lineup through its Nautical Ventures dealership network. According to InvestingPro data, the company maintains healthy liquidity with a current ratio of 3.93.

The collaboration aims to enhance the performance of both electric and internal combustion engine pontoons by incorporating Hydrofin’s technology, which lifts vessels partially out of the water to reduce drag and improve efficiency. This strategic move comes as Vision Marine faces challenging market conditions, with InvestingPro data showing a 68.29% revenue decline in the last twelve months.

For pontoons equipped with Vision Marine’s E-Motion 180E electric propulsion system, the hydrofoil technology is expected to extend range and optimize energy usage. On traditional combustion engine pontoons, the technology aims to improve fuel economy and ride comfort.

"This partnership allows us to broaden the value of our pontoon offering," said Maxime Poudrier, Chief Operating Officer of Vision Marine Technologies, in a press release statement.

Skip Sorenson, CEO of Hydrofin, noted that the integration of their hydrofoil technology with Vision Marine’s electric propulsion systems would "improve efficiency, extend range, and enhance ride comfort for pontoon owners."

The companies plan to support the technology rollout across Nautical Ventures’ Florida retail locations with joint marketing, training, and service initiatives.

Vision Marine has previously integrated its E-Motion propulsion system onto more than five pontoon brands, according to the company. The U.S. pontoon segment represents one of the fastest-growing categories in recreational boating.

The partnership reflects Vision Marine’s dual growth strategy of advancing proprietary propulsion systems while using its Nautical Ventures retail platform to bring complementary technologies to market.

In other recent news, Vision Marine Technologies Inc. has closed a public offering of 3.5 million shares of common stock at $2.00 per share, generating $7 million in gross proceeds before underwriting discounts and expenses. The company has also granted underwriters a 45-day option to purchase up to an additional 525,000 shares or pre-funded warrants to cover over-allotments. Additionally, Vision Marine has expanded its partnership with Octillion Power Systems to produce high-voltage lithium-ion battery packs for its E-Motion 180E electric outboard system at a facility in Reno, Nevada. These batteries are designed specifically for marine propulsion and will be distributed exclusively in the U.S. market. In another development, Vision Marine has promoted Daniel Rathe to Chief Technical Officer as it moves from product development to commercial deployment of its electric marine propulsion systems. This transition follows the completion of the E-Motion 180E powertrain’s development, validated with McLaren Engineering. The promotion coincides with the end of Xavier Montagne’s contract as COO and CTO. These developments highlight Vision Marine’s ongoing efforts to expand its operations and product offerings.

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