EUR/USD likely to find a peak near 1.25: UBS
MONTREAL - Vision Marine Technologies Inc. (NASDAQ:VMAR), currently trading at $8.09 and identified as undervalued by InvestingPro analysis, announced Wednesday that its E-Motion 180E electric marine propulsion system has been approved for California’s Clean Off-Road Equipment (CORE) Voucher Incentive Project, making it eligible for up to $170,000 in per-unit vouchers.
The state-funded incentives apply to both new electric boat builds and retrofit conversions using Vision Marine’s certified installers, potentially accelerating adoption among California’s approximately 4,400 commercially operated vessels across sectors including ferries, harbor patrol, tour boats, and rental services. With a current ratio of 10.86 and more cash than debt on its balance sheet, the company appears well-positioned to handle potential growth opportunities.
"This represents a major milestone for Vision Marine," said Alexandre Mongeon, CEO of Vision Marine Technologies, according to the company’s press release.
The E-Motion 180E system, which delivers 180 HP of continuous power, is the only electric powertrain of its class listed under the CORE program. The approval comes as California pursues broader emissions reduction goals across its maritime sector.
The CORE program, administered by the California Air Resources Board and funded by the state’s Cap-and-Trade program, provides point-of-sale vouchers to reduce the upfront cost of zero-emission off-road equipment, including marine technologies.
Vision Marine Technologies develops electric marine propulsion systems for OEMs, fleet operators, government agencies, and rental services across North America.
The company’s announcement reflects increasing government support for commercial fleet electrification initiatives, particularly in states with strict emissions regulations.
In other recent news, Vision Marine Technologies Inc. has submitted a new patent application to the United States Patent and Trademark Office. This patent aims to enhance the digital security of their E-Motion™ Electric High-Voltage Marine Powertrain technology by implementing a secure communication framework. The innovation is designed to prevent unauthorized access to critical vessel systems and simplify integration for manufacturers. Additionally, Vision Marine has announced a reverse stock split, consolidating every ten shares into one, effective March 31, 2025. This strategic move is intended to comply with Nasdaq’s minimum bid price rule, as outlined in Nasdaq Listing Rule 5550(a)(2). Following the split, the number of outstanding shares will decrease from approximately 10.4 million to around 1.04 million. Shareholders with fractional shares will receive one whole share instead. Vstock Transfer LLC will manage the exchange, ensuring automatic adjustments for electronic or nominee-held shares.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.