Octillion to manufacture new battery system for Vision Marine’s E-Motion™ outboard powertrain

MONTREAL, CANADA, Jan. 4, 2021 – Vision Marine Technologies, Inc. (NASDAQ: VMAR) (“Vision Marine” or the “Company”), the global leader in the electric transition of the recreational boating industry serving both OEMs and consumers, has partnered with Octillion Power Systems (“Octillion”) to develop a customized high voltage 35 KW high density battery exclusively for use within the recreational boating market. Under the terms of the agreement, Octillion will manufacture a new advanced electric battery system to power its E-Motion™ outboard powertrain. The configuration of the battery pack is smaller than that of a typical fuel tank, which in turn makes it easier to custom fit in virtually any boat.

A market leader in supplying electric vehicle battery systems, Octillion has been dedicated to driving clean energy solutions since 2009, by designing and building lithium-ion battery systems for electric cars, trucks and buses. Octillion has delivered nearly 400,000 electric vehicle battery systems for the global market, with more than 4.5 billion kilometers driven on Octillion’s battery systems.

“Vision will have a highly efficient and unique product to utilize in conjunction with our E-Motion™ fully electric powertrain, “ said Alexandre Mongeon, co-founder and CEO of Vision Marine. “There is currently a two year delivery backlog of performance batteries in the boating industry.  The Octillion agreement will allow Vision Marine to continue to scale production and secure the quantities of high density electric battery systems required in conjunction with the commencement of sales of our E-Motion™ outboard powertrains.”

“There is growing demand from major electric vehicle OEMs for electric motors,” added Xavier Montagne, COO of Vision Marine. “Collaborating with Octillion will allow us to expeditiously deliver fully electric motors equipped with state of the art energy storage systems and further secure our supply chain.”

“Octillion is excited to support Vision Marine and its efforts to revolutionize the recreational boating industry,“ said Paul Beach, President of Octillion. “The E-Motion™ platform offers an unparallelled boating experience when compared to traditional fuel powered systems.  These new platforms will encompass both state-of-the-art energy density rich solutions as well as extreme high power options.  By partnering with Vision Marine on this project, Octillion is excited to expand its energy storage brand into the marine industry.”