VISN MARI: advanced battery pack customized for the marine industry during testing







Advanced battery pack customized for the marine industry during testing

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Vision Marine Technologies (NASDAQ: VMAR) is pleased to share an update on its partnership with Octillion Power Systems.

Under the terms of the partnership announced in early 2022, Octillion has developed a custom 35kW high-voltage high-density battery, manufactured for the exclusive use of Vision Marine in the recreational boating market. Currently, all electric boat batteries are manufactured for automotive or industrial applications. Upon receipt of the prototype battery pack, the parties began “bench testing”, which met and exceeded expectations.

Xavier Montagne, COO and CTO of Vision Marine, commented: “After several months of design, working closely with the Octillion team in their state-of-the-art laboratory, we are delighted to finally be able to test our very first prototype batteries for the recreational boating market. We have worked diligently to achieve optimal design parameters with our E-Motion™ electric outboard motor and powertrain system.” He continued: “We have already been able to fully test communication with the battery on the bus. CAN and load it up to 30A. Everything worked as expected, and we look forward to testing them in a commercial setting in a boat being assembled.”

Xavier MontagneCTO, Vision Marine Technologies

As previously mentioned, our highly advanced electric battery system will be designed and manufactured exclusively for Vision Marine to power its E-Motion™ electric outboard powertrain, and will be the first battery pack to be designed solely for the marine industry. The product will be designed to be smaller than a typical ICE fuel tank, allowing it to fit virtually any boat between 18 and 30 feet, serving to expand Vision Marine’s addressable market.

In order to optimize the performance of electric boats such as pontoons, catamarans and center consoles, not only would the enormous power and torque provided by the E-Motion™ electric powertrain, but also a high density battery and high tension. .

Battery production, battery cell sourcing and global supply chains are a growing concern for many OEMs in the e-boat, automotive and truck/bus industries. Vision Marine’s partnership with Octillion reinforces our significant advantage, ensuring short and long term battery supply and thus commercial production.

E-Motion™ Electric Powertrain System

Octillion Power Systems is a market leader in providing battery systems for electric vehicles as designers and builders of lithium-ion battery systems for electric cars, trucks and buses. Although Octillion Power Systems is headquartered in Richmond, California, it has a global presence with production plants in China and India. This enables the scale production capabilities needed to meet Vision Marine’s expected demand from OEMs for the E-Motion™.

Additionally, Vision Marine’s manufacturing and supply agreement with McLaren Engineering, a subsidiary of Linamar Corporation, will also serve to meet large-scale production requirements. McLaren Engineering will participate in the testing and development of Vision Marine’s E-Motion™ electric outboard motor for mass production at Linamar’s facility in Guelph, Ontario, Canada. Linamar is an automotive parts and components manufacturer and supplier with US$7.4 billion in sales and 60 factories operating worldwide.

Disclaimer

Vision Marine Technologies Inc. published this content on July 01, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on Jul 01, 2022 1:42:10 PM UTC.

Public now 2022

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Sales 2021 3.51 million
2.73 million
2.73 million
Net income 2021 -15.1M
-11.7M
-11.7M
Net cash 2021 15.1 million
11.7 million
11.7 million
PER 2021 ratio -3.97x
2021 performance
Capitalization 50.1 million
38.9 million
38.9 million
EV / Sales 2020
EV / Sales 2021 14.9x
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