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McConaghy 2022 - MC63p & MC75 LEADERBOARD

The Limestone Boat Company places first order for fully electric systems

by The Limestone Boat Company 22 Sep 16:15 PDT
Limestone successfully completes sea trials for the 1st fully electric production center console boat © Limestone Boat Company

The Limestone Boat Company (the "Company") (TSXV: BOAT | OTCQB: LMSBF) - owner and builder of Aquasport Boats, Limestone® Boats and Boca Bay Boats - is pleased to announce that it has placed an initial order for the first fully electric propulsion systems to be installed on its 2024 Model Year EV boats following the successful sea trial results of its Vision Marine (NASDAQ: VMAR) E-Motion™ electric outboard-powered Aquasport 2100CC this summer.

The in-water testing fully validated the Company's EV engine partner Vision Marine as the preeminent provider of high-performance electric power in the recreational boating market, yielding impressive speed, operating and recharging times, and handling results. The new EV model will debut later this month in the Vision Marine Technologies display at the Fort Lauderdale International Boat Show. Consumers there will be able to place a deposit to secure one of the first-run production models slated for delivery in Q4 2023.

The Limestone Boat Company will continue to expand its electric footprint, integrating EV systems and upgrading existing and future models to accommodate the demand from customers looking for a quieter, emission-free boating alternative. Additionally, the Company is identifying ideal geographic markets, models, distribution, retail partners, and sales development given the validation of the performance metrics and the Company's early-mover market opportunity.

"Our choice to partner with Vision Marine to deliver a state-of-the-art EV boating experience has proven to be the right one. We're excited to move forward with this initial order for Vision's E-Motion powertrain and adding an EV offering to our 2024 Model Year lineup," said Limestone Boat Company CEO Scott Hanson. "Showcasing the E-Motion powertrain's capabilities, the sea trials definitively demonstrated our partnership's shared commitment to safety, quality, and reliability. The performance and stability of our renowned deep-V hull was not compromised in any way, and was still compliant with the safety standards that the Limestone Boat Company demands, which are above and beyond industry compliance standards."

Traditional internal combustion engine boat sales remain strong and are expected to continue to grow, as indicated by the strength of the Company's order backlog and its engine partners' offerings, further reinforcing that conventional propulsion will remain an emphasis of the Company for the foreseeable future. As consumer interest and adoption of electric-powered boats increases however, the Company will be at the forefront of the transition, established by its early EV engine partnership and integration commitment. The Company's EV offering will provide customers with a reliable and dependable boating experience featuring groundbreaking electric power performance that won't compromise the expectations and ride characteristics for which the Company's Brands and Models are renowned.

For more information on the Limestone Boat Company's EV initiatives visit www.limestoneboatcompany.com.

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