FORT PIERCE, FL / ACCESSWIRE / November 17, 2022 / Twin Vee PowerCats, Co. (NASDAQ:VEEE),("Twin Vee" or the "Company"), a manufacturer, distributor, and marketer of power sport catamaran boats, today announced that it is the fastest growing power catamaran manufacturer year over year through June 2022, according to information collected by a market share data company dealing in the marine, recreational vehicle, powersports, trailer and manufactured housing industries. The data shows that Twin Vee's sales grew 12.5% from June 2021 - 2022 compared to the previous year, while four other major competitors saw single-digit growth or declining sales during the same period.
"We believe the growth we have seen over the past 18 months is due, in part, to the variety of products we offer for every type of customer," explains Joseph Visconti, CEO and President of Twin Vee PowerCats Co. "Year after year, we have consistently designed new boat models to reach different markets across the country. Twin Vee is focused on building boats renowned for their best-in-class design, features, and amenities our customers want without skimping on quality."
The Company plans to expand its boat offering even further in the coming months. Twin Vee announced plans to introduce three new boat models named the STX for Sport Tournament last week. The STX model line will include a 24, 26, and 28-footer. Additionally, the Company is designing wholly new and unique boat models geared towards freshwater environments (which can also be used and enjoyed on the ocean) that they expect will help open new markets and increase Twin Vee's exposure.
"We're pleased to see Twin Vee setting itself apart in the power catamaran segment," says Visconti. "We're striving to design new and inventive products that promote versatility, functionality, and performance to a more expansive customer base."
About Twin Vee PowerCats Co.
Twin Vee PowerCats Co. has designed, built, and sold recreational power sport catamaran boats for over 27 years. Twin Vee's hull designs and engineering has placed the company on the leading edge of marine innovation. Twin Vee boats are known as "Best Riding Boats on the Water™" because catamarans reduce drag, increase fuel efficiency, and offer boaters a more stable riding boat. Located in Fort Pierce Florida, Twin Vee's facility is 7.5-acres with several buildings totaling over 75,000 square feet. The Company currently employs approximately 180 people. Learn more at twinvee.com.
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements and include statements regarding the growth over the past 18 months being due, in part, to the variety of products offered for every type of customer, plans to expand the Company's boat offering even further in the coming months and the new and unique boat models being designed that are geared towards freshwater environments helping open new markets and increase Twin Vee's exposure.
These forward-looking statements are based on management's expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others the Company's ability to continue to offer a variety of products for every type of customer, the ability to expand the Company's boat offering even further in the coming months and the ability to design new and unique boat models geared towards freshwater environments and the risk factors described in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, the Company's Quarterly Reports on Form 10-Q, the Company's Current Reports on Form 8-K and subsequent filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events, except as required by law.
SOURCE: Twin Vee PowerCats Co.
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