UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 6-K

  

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of June 2024

 

Commission File No. 001-39730

 

VISION MARINE TECHNOLOGIES INC.

(Translation of registrant’s name into English)

 

730 Boulevard du Curé-Boivin

Boisbriand, Québec, J7G 2A7, Canada

(Address of principal executive office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F

 

Form 20-F x    Form 40-F ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1) ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) ¨

 

 

 

 

 

 

General

 

The information contained in this Report on Form 6-K (excluding the exhibit) is hereby incorporated by reference into our Registration Statement on Form F-3 (File No. 333-267893) and Registration Statement on Form S-8 (File No. 333-264089).

 

On June 19, 2024, Vision Marine Technologies Inc. (the “Company”) announced it had entered into a partnership with with JetRide Holding, LLC, a Florida members-only boat club. A copy of the press release entitled, “Vision Marine Technologies Partners with JetRide to Leverage Growing Electric Boat Rental Market” is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K and incorporated by reference herein.

 

Exhibit Index

 

No.

 

  99.1 Vision Marine Technologies Partners with JetRide to Leverage Growing Electric Boat Rental Market

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  VISION MARINE TECHNOLOGIES INC.
     
Date: June 20, 2024 By: /s/ Raffi Sossoyan
  Name: Raffi Sossoyan
  Title: Chief Financial Officer

 

 

 

Exhibit 99.1



Vision Marine Technologies Partners with JetRide to Leverage Growing Electric Boat Rental Market

 

Montreal, QC, June 19, 2024Vision Marine Technologies, Inc. (NASDAQ: VMAR) ("Vision Marine" or the "Company"), a pioneer in electric marine propulsion, is thrilled to announce its partnership with JetRide Holding, LLC, a Florida members-only boat club. This strategic alliance marks Vision Marine's expansion in the burgeoning electric boat rental market, leveraging JetRide's extensive network of over 17 boat club locations across Florida.

 

We believe the electric boat market is experiencing rapid growth, driven by increasing awareness and demand among both seasoned boaters and newcomers. Similar to the rise of electric cars, we believe that electric boats are becoming essential in the boating world, offering innovative solutions and unique experiences. Electric boating not only attracts existing boaters but also encourages non-boaters to explore and enjoy the pleasures of boating for the first time. Renters will have the opportunity to experience Vision Marine's E-Motion™ Electric Powertrain firsthand, along with a variety of other electric products, all supported by years of expertise in electric boating.

 

“We are constantly looking to provide our members with the best and most advanced boating experiences and are proud of our reputation for embracing cutting-edge technologies and innovation,” said Travis Zielasko, CEO at JetRide. “Partnering with Vision Marine allows us to reflect consumer demand for more sustainable boat practices while setting new standards for excellence and responsibility across the boating industry.”

 

“Rental Operations are the perfect platform to promote and showcase our innovative products and serves as the best marketing platform for future boat buyers’ education” said Alex Mongeon, CEO of Vision Marine.” This partnership is a significant step towards promoting sustainable and thrilling boating experiences."

 

This joint venture offers a unique experience for JetRide members, combining their premier rental services with Vision Marine's expertise. The partnership will be showcased at various locations - starting in Palm Beach County, Florida, which we believe ideal for highlighting our new generation electric bowriders, pontoons, and center consoles powered by E-Motion™ powertrain technology, along with smaller propulsion solutions.

 

The partnership with JetRide is part of Vision Marine's strategy to expand its footprint on the East Coast of the United States. This follows the partnership with BlueWater Rental in Palm Beach Florida in December 2023, providing innovative and durable electric solutions for emission-free boating to an increasing number of boaters.

 

About Jet Ride


JetRide is a technology-first boat club that offers its members all the benefits of boat ownership, but without the hassles of maintenance, cleaning, insurance, and storage.
With 17 locations across Florida, JetRide meets the growing consumer demand for sharing economy services, where experiences are valued over ownership. Our expansive fleet includes Center Consoles, Bowriders, Pontoons, and Jet Skis, all accessible through an innovative online platform. This platform enables a variety of recreational activities such as fishing, skiing, tubing, and leisurely cruises with family and friends. With no initiation fee, affordable monthly dues, and a user-friendly booking system, JetRide makes boating accessible to everyone, allowing them to create lasting memories on the water.

 

 

 

 

About Vision Marine Technologies, Inc.

 

Vision Marine Technologies, Inc. (NASDAQ: VMAR) epitomizes the marine industry’s shift towards electric propulsion, offering the pioneering E-Motion™ outboard powertrain system. We believe that this innovative technology represents a significant leap forward in marine propulsion, combining advanced battery packs, inverters, and high-efficiency motors with proprietary software and assembly techniques. Vision Marine’s commitment to eco-friendly electric powerboats is designed to reshape the recreational boating experience, offering higher speeds, longer ranges, and smoother rides than traditional internal combustion engine boats. With a focus on design, innovation, and craftsmanship, Vision Marine aim to redefine recreational boating for a more sustainable future.

 

Forward-Looking Statements

 

This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include predictions, expectations, estimates, and other information that might be considered as future events or trends, not relating to historical matters. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Vision Marine’s Annual Report on Form 20-F for the year ended August 31, 2023, and its periodic filings with the SEC provide a detailed discussion of these risks and uncertainties. Vision Marine does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, as required by law.

 

Links:

 

Website: visionmarinetechnologies.com

Twitter: @marine_vision

Facebook: @VisionMarineTechnologies

Instagram: @visionmarine.technologies

YouTube: @VisionMarineTechnologies

 

Investor and Company Contact:

 

Bruce Nurse

(303) 919-2913

bn@v-mti.com