Electric Boat Company Completes IPO Process

Electric boat and outboard company Vision Marine Technologies announced the closing of its initial public offering of 2.76 million common shares, raising $27.6 million before expenses. The company says its E-Motion outboard — rated at 135kW, about 180 hp — is an industry-first, combining a battery pack, inverter, and high-efficiency motor with “proprietary union assembly between the transmission and the electric motor design and extensive control software.” The outboard will tip the scales at 413 pounds; for comparison, a 175-hp Yamaha F175 weighs 483 pounds.