Vision Marine Technologies Inc. Signs Global Exclusive Supply Agreement With STERK for Electric Boats

ACCESS Newswire 27-Feb-2025 2:31 AM

MONTRÉAL, QUEBEC / ACCESS Newswire / February 27, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a pioneer in electric marine propulsion, proudly announces the signing of a three-year exclusive supply agreement with MS Marine GmbH ("STERK"). This agreement positions Vision Marine as the sole provider of electric propulsion systems for STERK boats and grants Vision Marine the exclusive global distribution rights for electric-powered Sterk vessels with Vision Marine electric propulsion systems.

Under the agreement, Vision Marine may exclusively integrate its E-Motion™ 180E electric propulsion system into certain STERK boats, facilitating a seamless and high-performance electric boating experience. This collaboration marks a significant milestone in Vision Marine's European expansion strategy, as STERK boats are to be assembled in Germany using Vision's Marine's battery packs.

Exclusive Distribution and Market Growth

Through this agreement, Vision Marine gains the exclusive right to sell electric-powered STERK boats worldwide, allowing the company to introduce these vessels to the North American market while solidifying its foothold in Europe. This agreement represents the first step in what we believe will be a long-term collaboration, with additional models potentially being added in the future, subject to mutual agreement.

We believe the market for electric boating is experiencing rapid growth, driven by increasing consumer demand and regulatory shifts favoring sustainable solutions, as supported by market research. Vision Marine intends to meet these demands through its commitment to deliver industry-leading electric propulsion technology in collaboration with established boatbuilders like STERK.

Quality Assurance, Certification, and Training
As part of the agreement, Vision Marine will work with STERK to certify boats equipped with the E-Motion™ 180E system to meet CE, USCG, ABYC, and NMMA standards. Vision Marine will also provide technical training to STERK's workforce, ensuring optimal integration, rigging, and customer support for electric-powered boats.

"This Agreement helps cement Vision Marine's role as a driving force in electric marine propulsion," said Alexandre Mongeon, co-founder and CEO of Vision Marine Technologies. "By partnering with STERK, we are facilitating the integration of our E-Motion™ 180E system into a premium platform, creating a scalable pathway for widespread distribution of electric boats. This collaboration strengthens our European presence, and I believe it will pave the way for future expansion.

"At STERK, we are always striving to push the boundaries of innovation and performance," said Milan Sterk, Managing Partner of MS Marine. "By working with Vision Marine, we are taking a major step toward integrating high-performance electric propulsion into our boats. I am truly enthusiastic about making STERK Yachts electric and reducing our ecological footprint, while still delivering the exhilarating experience that defines our super sport boats. This Agreement marks the beginning of an exciting journey to provide our customers with cutting-edge, sustainable boating solutions."

About Vision Marine Technologies Inc.
Vision Marine Technologies Inc. (NASDAQ:VMAR) is a pioneer in electric marine propulsion, dedicated to delivering high-performance, sustainable solutions for the recreational boating industry. The Company's flagship E-Motion™ electric marine powertrain is the first fully industrialized, high-voltage electric propulsion system designed for widespread adoption. Vision Marine continues to push the boundaries of innovation, transforming the way boaters experience the water.

For more information, please visit www.visionmarinetechnologies.com.

About STERK Yachts
STERK Yachts is a premium European boat manufacturer known for blending modern design, high-performance engineering, and sustainable innovation. Based in Germany, STERK Yachts is dedicated to redefining the boating experience by integrating cutting-edge technology with meticulous craftsmanship. The company offers a range of high-quality, precision-built boats that cater to both luxury and performance-driven customers.

For more information, please visit www.sterkyachts.com.

Forward-Looking Statements
Certain statements in this press release, including, but not limited to, statements regarding the anticipated benefits of the exclusive supply agreement, market expansion, and future events, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions and subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Vision Marine disclaims any obligation to update these statements except as required by law. Actual results may differ materially from those expressed or implied. For a detailed discussion of these risks, refer to Vision Marine's Annual Report on Form 20-F for the year ended August 31, 2024, and other periodic filings with the SEC. Vision Marine does not undertake any obligation to update or revise forward-looking statements other than as required by law.

Investor Relations Contact:

Vision Marine Technologies Inc.
Bruce Nurse - Investor Relations
bn@v-mti.com
(303) 919-2193

STERK Yachts
info@sterkyachts.com
+49 123 456789

SOURCE: Vision Marine Technologies Inc