Alexander Mangion (2:41)

There's a few of them. One of the most important one is the meeting. Ian Bruce, Olympic sailor And designing my first electric boat back then in 2014 and doing water sport in the back of that boat at 40 miles per hour. And lately I also met Roger Moore in 2016, founder of Nautical Ventures and he was showing me all the marine retail space. Were so meeting Ian Bruce, Roger Moore and then working with McLaren Engineering and Testing for two years in a row. Our technology from 2021 to 2023 was something very important for and lately we did the world fastest electric boat with Sean Torrente, world champion in the F1. So all those, I would say past 15, 16 years of work were very important for me. So this is where most of the knowledge became very important for me.

Podcast Host (3:31)

Thank you, I appreciate that. And you do have quite a bit of experience in this space. You know, you talked about Olympic boating, sailing, you worked with McLaren, which is a big deal. Obviously they're in this sports space. But having the world's fastest electric boat is obviously a big feat. We, we know how boating is generally it's combustion engines. But I like how you're taking not only electric technology, but you're using it in the racing world as well. So thank you for that backstory. Alex Vision Marine technologies is driving the transition to innovative boating. What inspired you to focus on electric electrification in any industry traditionally dominated by combustion engines?

Alexander Mangion (4:15)

Electrification for us was not a concept, it was a commercial opportunities that was actually we were already executing on back then by building smaller electric boats doing 6, 7 miles per hour. We saw early that the marine industry was behind and customers were expecting the market to move faster. The low maintenance solution and the cap was the demand was already there, but the lack of high performance propulsion system were not there. So we saw the opportunity as early as 2015 for the market, thereby replacing slowly the combination engine by the year 2030, 2035. So we were the early adapter back then. That's what that was, was that's what's motivating us.

Podcast Host (4:53)

So obviously there was a little bit of a demand there, as you said, and I do remember some smaller like in the fishing industry, a lot of small type of electric motors. Obviously there is a demand for doing much more as far as recreational activities. And in your case, you're making boats that break records for its class. So I appreciate the what you're doing there to bring this to market.

Alexander Mangion (5:18)

But also go ahead, it's a 20 billion business by 2030, so it's something pretty decent as well on the market side.

Podcast Host (5:26)

Thank you. I appreciate that statistic. It is growing, as you know, in electric vehicles and Boats marine equipment is expanding as well. Alex, let's talk about your emotion technology. It's at the core of your innovation. What were the biggest challenges in scaling this high voltage system from prototype to industrial production?

Alexander Mangion (5:48)

The key challenges were transitioning from innovation to retributable scalable production. We did 25 different integration over the past five years on brand new bolts from different manufacturers. Marine usage is a bit different than the car. It's demanding and the environment is a bit different. The thermal condition, the salt waters exposures, the safety standard. And we had to scale quickly in production and the prototype is pretty easy to do. But moving into production, it's a different ball game. That's what we had focused over the past three years by working with McLaren Linamar and also BRP Bombardier. So that was the most challenging part and this is where we are. So we were also have to navigate it into an immature supply chain in higher voltage marine space. As you mentioned, you only were seeing small trolling motors of 48 or 36 volt. We have a 700 volt architecture. So we went from a prototype phase as the years 20, 18, 19 to a production phase. And we are delivering system as we speak. So the focus today is discipline, execution and controlling costs and ensuring reliability and scaling production with our demand in our dealership network. The technology is there, it's not a prototype. And now we're scaling production.

Podcast Host (7:07)

Thank you. I know that is challenging manufacturing, mass producing, but you're doing something that's high performance. So there is, there are a lot of different ways and more challenges in that manufacturing space. And you did mention some of those, obviously the safety, salt water, etc. It's not like your traditional vehicle manufacturing. But again, controlling costs and scaling is. You got to find that right balance. So I've talked to many entrepreneurs on the podcast about this in the manufacturing space and it's certainly something that needs to be highlighted. So Alex, the last question I have today as we look ahead to the future, how do you see the future of marine transportation evolving over the next decade? And what role will electrification and sustainable innovation play in reshaping the industry?

Alexander Mangion (7:54)

Well, we see the marine electrification following the car or the automotive industry. It's a gradual adoption, the acceleration and the economics, the user experience is aligning with what we do. The near, the near term the growth is driven by the demand and we are actually pushing pretty, I would say heavily on presenting the product and there's a demand for that. For smaller boats between 20 to 30ft, there's a demand and as the batteries are performing better and better and the price is being readdressed to consumer, we see the market market expanding. What matters the most for our investors now is to execute and delivery and do the delivery of our system through our dealership network. And we are scaling also some different types of power from our technology as well combined with new AI, let's say apps with our product. So our strategy is to build around owning the customer relationship, controlling the platform and converting innovation into revenues.

Podcast Host (8:52)

Thank you, appreciate that. So definitely you've got a lot going on in the marketing space. You're trying to gain that market share and you talked about the gradual adoption over the years I think generally. But that demand is growing and you did highlight that the higher demand on the boats right now is that 20 to 30 foot size range. So again, appreciate those insights, really do. And I'm just excited about what you're trying to do in this space and the marine industry. And Alex, it was such a pleasure having you on today and I look forward to speaking with you real soon.

Alexander Mangion (9:25)

Thank you for. Thank you very, very much for having me this morning. I will gonna wish you a good day.

Podcast Host (9:30)

Bye for now.