GlobeNewswire Inc | Sep 1, 2021 07:30AM EDT

September 01, 2021

MONTREAL, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Vision Marine Technologies, Inc. (Nasdaq: VMAR) (Vision Marine or the Company), a global leader in the electric recreational boating industry serving both OEMs and consumers, is proud to announce its Bruce22 electric boat powered by its 180 hp fully electric E-Motion outboard motor set a new category speed record at the Lake of the Ozarks Shootout, the largest unsanctioned boat race in the US, which took place August 28-29, 2021.

We believe that our fully electric technology provided a clear glimpse into the very near future, said Xavier Montagne, CTO of Vision Marine Technologies. We envision electric boats and outboard motors quickly becoming mainstream within the consumer markets, and the Lake of the Ozarks Shootout presented an exciting opportunity for Vision Marine to debut itsE-Motion outboard motor.

Electric boats made their debut at the Shootout in 2018, with a 25-mph run by Randy Vance inCalypso. In 2021, despite experiencing unusually warm temperatures, Vision Marine was able to achieve a speed of 49 mph, shattering its own record of 31 mph set in 2019, as the worlds fastest production electric boat. The Bruce 22, powered by our E-Motion electric outboard motor, achieved this milestone with Vision Marine co-founder and COO Patrick Bobby at the helm.

With a focus on power, speed and performance, Vision Marine is well positioned to take advantage of growing demand and an accelerating demand by OEMs and consumers to shift to environmentally friendly electric technology. The move toward more powerful engines with increased torque, and the expanded availability of pure electric optionality, is projected to increase the addressable market for electric outboard motors almost threefold, from US$4.5 billion in 2018 toUS$12.3 billion in 2027.

Key Features of Vision Marines Proprietary E-Motion Technology:

-- Dramatic increase in efficiency, torque, power, and consumer experience. -- Exceptionally fast charging capabilities. -- Noiseless engine with minimal vibration. -- Sustainable solution with zero emission. -- E-Motion delivers an exhilarating experience due to its high torque to horsepower ratio -- 90% reduction in fuel and maintenance cost versus traditional ICE powered boats

We are absolutely thrilled with the performance of our Bruce 22 powered by our E-Motion electric powertrain at the Lake of the Ozarks Shootout, said Alexandre Mongeon, CEO of Vision Marine Technologies. One of the largest boating events in the nation, the Shootout provided a tremendous platform to showcase our electric technology to the boating community.

Named one of the nations eight must-see boating events according to Powerboat Magazine, the Shootout took place for the ninth year at Captain Rons Bar & Grill in Sunrise Beach. The event, now in its 33rd year, raises funds for eight Lake area rescue teams and numerous other charitable organizations.

About Vision Marine Technologies, Inc.

Vision Marine Technologies, Inc. (Nasdaq: VMAR), strives to be a guiding force for change and an ongoing driving factor in fighting the problems associated with waterway pollution by disrupting the traditional boating industry with electric power, in turn directly contributing to zero pollution, zero emission and a noiseless environment. Our flagship outboard powertrain (E-Motion) is the first fully electric purpose-built outboard powertrain system that combines an advanced battery pack, inverter, and high efficiency motor with proprietary union assembly between the transmission and the electric motor design utilizing extensive control software. Our E-Motion and related technologies used in this powertrain system are uniquely designed to improve the efficiency of the outboard powertrain and, as a result, enhance both range and performance. Vision Marine continues to design, innovate, manufacture, and sell handcrafted, high performance, environmentally friendly, electric recreational power boats to customers. The design and technology applied to our boats results in far greater enhanced performance in general, higher speeds, and longer range. Simply stated, a smoother ride than a traditional internal combustion engine (ICE) motorboat.

Forward-Looking StatementsCertain statements made in this press release are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as anticipate, believe, expect, estimate, plan, outlook, and project and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, actual results may differ materially from these expectations due to changes in global, regional, or local economic, business, competitive, market, regulatory and other factors, many of which are outside of Vision Marines control. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Vision Marines Annual Report on Form 20-F, filed with the U.S. Securities and Exchange Commission (SEC) for the year ended August 31, 2020, as such factors may be updated from time to time in Vision Marines periodic filings with the SEC. Any forward-looking statement in this press release speaks only as of the date of this release. Vision Marine undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. https://visionmarinetechnologies.com.

Investor and Company Contact:

Bruce NurseVision Marine Technologies, Inc.(800) 871-4274bn@v-mti.com

Dave GentryRedChip Companies Inc.800-RED-CHIP (733-2447) or 407-491-4498dave@redchip.com