VMAR - Vision Marine Technologies acquires EB Rental terms not disclosed

Vision Marine Technologies (VMAR) announces the acquisition of EB Rental consisting of cash and stock.EBR is an electric boat rental company operating at Lido Marina Village in Newport Beach, California.With this strategic vertically integrated acquisition, Vision Marine will have the unique advantage of further showcasing its proprietary new E-Motion powertrain system.The EBR represents a template to take advantage of a burgeoning US addressable market, growing at CAGR of more than 4%, and expected to reach approximately $5B by 2027, according to Transparency Market Research.Pursuant to the deal, Vision Marine is  seeking to meaningfully expand its rentals operations, initially to the east coast, with numerous locations already identified, with ~100,000 passengers every year and operating at full capacity and EBR is planning to increase its fleet by 15 boats.The current management of EBR will continue to oversee operations, provide turnkey operational expertise, and spearhead our repeatable and highly scalable plans for expansion.The

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Vision Marine Technologies acquires EB Rental, terms not disclosed