Twin Vee Successfully Sea Trials 28-Foot Electric Boat and Announces New EV Brand 'Forza X1'

FORT PIERCE, FL / ACCESSWIRE / November 5, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee", "our" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, today announced successful sea trials for its 28-foot electric-powered catamaran (280 Electric Video). "We believe our dedicated design and engineering of our proprietary controller will be a game-changer when it comes to maximizing battery power and run times with marine EV propulsion," stated Joseph C. Visconti, President and CEO of Twin Vee PowerCats Co. "The automotive industry has commercialized electric cars into the mainstream of daily drivers for consumers, and now it's time for the marine industry to follow suit. We strongly believe that our assembled team of designers, engineers, and system integrators will lead the marine industry transition into affordable, user-friendly, safe, reliable, and well-designed electric boats. There are several EV companies producing cool-looking electric boats, but our mission continues to be the development of an affordable electric boat for the masses, not the few. With our 280 E testing our Twin Vee engineering team will use the information gathered and continue to prototype, analyze, and perfect the propulsion and the control systems of our future EV products."

Foto: Accesswire

The Twin Vee Electric Engineering Team on the 280 Electric.
(L-R: Jean Marc-Zanni, Chandan R. Chittimalle, Wildo Dumont, Armando Gallegos, Preston Yarborough, Jr., and Preston Yarborough)

Driven by consumer sales of electric vehicles (EV) in the last few years, the marine industry is beginning to adopt EV technologies to follow suit. There are currently 12 million passenger EVs on the road, and the prevalence of electric-powered boats is likely next. While electric boats only represented about 2% of the market in 2020, a report by IDTechEx shows that the market for hybrid and pure electric boats will rise rapidly to over $20 billion worldwide by 2027. Boat manufacturers are now attempting to innovate in the EV space to sell their electric boats.

Foto: Accesswire

Despite the current supply chain shortages, Twin Vee is moving forward with an all-new, designed from the ground up electric boat for the masses named "Forza X1". According to Visconti, Forza X1, Inc. is a wholly owned subsidiary of Twin Vee dedicated to designing and manufacturing a fully integrated Tesla-styled electric boat with intuitive controls that will offer boaters versatility on the water at an affordable price point. Twin Vee made the strategic business decision to separate its Twin Vee Electric development and rename it Forza X1 so that the Company could focus on meeting the high demand for its gas-powered boats under the Twin Vee PowerCats brand. "Forza is Italian for ‘force' or ‘strength.' The X1 part of the new name is a nod to the Bell X-1, a rocket engine-powered aircraft piloted by Chuck Yeager. It was the first crewed aircraft to exceed the speed of sound," explains Visconti. "The name ‘Forza X1' best represents our mission to design and manufacture a well-crafted electric boat that will be on the leading edge of innovation like its namesake."