FORT LAUDERDALE, FL - August 28, 2025 - Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company") a pioneer in high-voltage marine propulsion and multi-brand boat retail, today announced the launch of a dedicated electric boating division within Nautical Ventures Group. This strategic initiative is designed to provide customers with a complete EV-focused experience-encompassing sales, service, after-sales support, events, and a growing lineup of electric toys and watersports products.
The new division is anchored by Vision Marine's E-Motion™ electric propulsion and electric boat lineup, which serve as the foundation of its EV strategy. As part of this broader initiative, Nautical Ventures has also renewed its Dealer Agreement with Cayago Americas Inc., manufacturer of Seabob. Seabob, known for its electric water sled technology, offers a luxury lifestyle experience and has become internationally recognized as the benchmark for high-end water toys. This aligns with NMMA's commentary that innovation in product design-especially showcased at leading boat shows-is increasingly important in reigniting consumer demand.
Seabob F9S Model Color selection - Seabob F9S Model Color selection - Seabob.com
Seabob has already proven to be one of Nautical Ventures' strongest-selling premium water toys, with the majority of historical sales driven by the F5S model-now succeeded by the new F9 series, which continues to embody the same legacy of innovation. Its performance underscores the proven demand for premium electric lifestyle products that will complement the division's boat offerings and accelerate adoption of electric marine experiences.The initiative aligns with broader industry growth. The North American recreational boating market was valued at USD 10.06 billion in 2024 and is projected to reach USD 15.0 billion by 2033, a CAGR of ~4.5% (Market Data Forecast). Within this market, the watersports and accessories segment accounts for over one-third of usage, underscoring the rising importance of lifestyle-driven products. Complementing this, the watercraft accessories market is expected to nearly double-from USD 8.2 billion in 2025 to USD 15.7 billion by 2035-at a 6.1% CAGR
"Our vision goes far beyond propulsion. We are building a complete electric ecosystem for boaters-covering sales, service, aftersales care, and on-water experiences," said Alexandre Mongeon, Chief Executive Officer and Co-Founder of Vision Marine Technologies. "Through Nautical Ventures, we can unite electric boats, toys, and watersports equipment under one roof. The renewed Seabob dealer agreement demonstrates the type of premium, innovative products we are bringing into this division to complement our boat offerings and deliver unmatched value to consumers and partners."
The EV-focused division also provides a platform for future collaborations with leading EV partners, setting the stage for upcoming announcements that will highlight synergies across the transportation, marine, and recreation sectors. Leveraging Florida as a natural launchpad, Nautical Ventures will use its nine-location retail and service footprint to accelerate the adoption of electric boating nationwide.
About Vision Marine Technologies Inc.
Vision Marine Technologies Inc. (NASDAQ:VMAR) is a pioneer in the marine industry, offering premium boating experiences across both electric and internal combustion engine (ICE) segments. The Company designs, manufactures, and sells its flagship E-Motion™ 180E high-voltage electric outboard system, while also providing consumers access to boats, marine products, and services through its Nautical Ventures division. With nine retail locations in Florida and established sales, service, and marina operations, Vision Marine delivers scalable, market-ready solutions to meet the evolving needs of recreational boaters and commercial operators.
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About Seabob (Cayago Americas Inc.)
Seabob, manufactured by Cayago AG and distributed by Cayago Americas Inc., is the world's leading brand of electric water sleds. Manufactured in Germany and distributed globally, Seabob has become the benchmark in luxury watersports.
Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding the impact of the EV division launch, the renewed Seabob dealer agreement, anticipated consumer adoption, future collaborations, and the Company's broader strategic objectives. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Risks include, but are not limited to, market conditions, operational execution, customer demand, competitive factors, and those described in the Company's SEC filings. Vision Marine disclaims any obligation to update forward-looking statements, except as required by law.
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