Electric outboard manufacturer Vision Marine Technologies is looking to raise around Canadian $1.5 million in finance, selling shares in a private placement.
The funding round is expected to take place on September 20 2023, and will be subject to customary closing conditions
Last year the company broke the 100mph speed barrier on an electric watercraft in partnership with Hellkat Powerboats.
The record was made using a V32, 32ft catamaran hull that was specifically designed to accommodate the necessary battery banks to power a pair of Vision Marine’s flagship E-Motion electric outboards.
The company’s 180E electric marine powertrain is an 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 using extensive control software.
The E-Motion and related technologies used in the powertrain system are designed to improve the efficiency of the outboard powertrain.