Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Vision Marine files patent for marine battery pack

EditorNatashya Angelica
Published 2024-05-22, 01:00 p/m
VMAR
-

MONTREAL - Vision Marine Technologies, Inc. (NASDAQ:VMAR), known for its electric marine propulsion systems, has recently filed a patent for an innovative high-voltage marine battery pack. This new development, announced on Wednesday, is integral to the company's E-Motion™ Marine Powertrain Technology and is also intended for use in future recreational electric powerboats.

The company's latest patent, filed on May 15, 2024, marks a significant milestone following a five-year period of rigorous testing and development. Vision Marine's dedicated battery pack is designed to meet the specific demands of electric boating, providing high voltage, advanced electronic communication, and internal cooling systems tailored for the E-Motion™ Technology.

Chief Technology Officer Xavier Montagne highlighted the battery pack's exceptional design, which is made to withstand the challenges of marine propulsion without compromise. The pack's architecture promises to deliver leading performance and efficiency, potentially accelerating the adoption of electric powerboats.

Developed in collaboration with naval architects over four years, the battery pack's design mirrors traditional gas tanks, easing installation in recreational boats ranging from 18 to 34 feet. Its IP67 waterproof stainless-steel construction ensures durability and resistance to water exposure, while the design also includes multiple fixation points for dampers to enhance vibration resistance.

CEO Alexandre Mongeon emphasized the strategic importance of the battery packs, which are expected to become a significant revenue stream as demand increases. If the patent is granted, it will solidify Vision Marine's control over the manufacturing process, allowing production at any location of its choosing.

Vision Marine Technologies continues to lead the charge in the electric boating revolution, driving innovation and sustainability in the industry. The company's commitment to eco-friendly marine propulsion is evident in its E-Motion™ outboard powertrain system, which is redefining the recreational boating experience.

The information in this article is based on a press release statement from Vision Marine Technologies, Inc.

InvestingPro Insights

In the wake of Vision Marine Technologies, Inc.'s (NASDAQ:VMAR) announcement regarding their patent filing for a high-voltage marine battery pack, InvestingPro data and insights provide a deeper understanding of the company's financial landscape. As of the last twelve months leading up to Q2 2024, Vision Marine's market capitalization stands at a modest 7.54M USD, reflecting the niche market in which it operates.

The company's revenue for the same period was 3.78M USD, but it's worth noting there has been a significant decrease in revenue growth, down by 32.62%. This contraction aligns with the InvestingPro Tip that analysts do not anticipate the company will be profitable this year, which is further evidenced by a negative P/E ratio of -0.92. Moreover, with an operating income margin of -332.79%, it's clear that the company is facing financial challenges.

Despite these hurdles, Vision Marine's liquid assets surpass short-term obligations, as per InvestingPro Tips, suggesting a degree of financial stability in the immediate future. However, the stock price has experienced considerable volatility, taking a substantial hit over the last week, with a 1-week price total return of -11.3%. This performance is consistent with the InvestingPro Tip that the stock often moves in the opposite direction of the market, indicating that it might not follow broader market trends.

For investors interested in a comprehensive analysis of Vision Marine Technologies, InvestingPro offers additional insights. There are 15 more InvestingPro Tips available, which can help investors make informed decisions about the stock. To access these tips, visit https://www.investing.com/pro/VMAR and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.