Twin Vee PowerCats Co

Twin Vee PowerCats Co. designs, manufactures, and sells recreational and commercial power catamaran boats. The firm is focused on designing and developing its products under ELECTRA Power Sports brand. The company was founded by Roger Dunshee in 1996 and is headquartered in Fort Pierce, FL.

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Twin Vee Powercats Co adapts to economic challenges, maintains resilience

Twin Vee Powercats Co navigated economic challenges in Q1 2024 by implementing operational efficiencies, introducing successful new boat models, and maintaining a strong balance sheet. Despite a net loss and decreased cash reserves, the company's strategic focus on cost control and product innovation bodes well for future growth.

Twin Vee Powercats Co tackles challenges, eyes growth opportunities post-merger

Twin Vee Powercats Co faced challenges in Q2 2024 but maintained positive gross margins and implemented cost control measures. The company's focus on innovation, growth initiatives, and the merger with Forza position it for future success amidst market uncertainties.
Strong brand recognition, customer loyalty, and confidence in navigating market conditions are key strengths for Twin Vee Powercats Co. Challenges include economic shifts and the need to maximize shareholder value amidst uncertainties.

Twin Vee PowerCats Co tackles challenges, eyes market rebound

Twin Vee PowerCats Co navigated challenges in Q3 2024 with a focus on cost management and operational optimization
Despite reduced sales and operational losses, the company is strategically positioning for a market rebound
With a cash position of $11.4 million, Twin Vee is proactively addressing challenges and exploring growth opportunities

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Twin Vee PowerCats Co. engages in the design, manufacture, and sale of recreational and commercial power catamaran boats. The firm is focused on designing and developing its products under the ELECTRA Power Sports brand. It operates through the following segments: Gas-Powered Boats, Electric Boat and Development, and Franchise. The Gas-Powered Boats segment manufactures boats that use fuel. The Electric Boat and Development segment designs fully electric boats through Forza X1 Inc. The Franchise segment deals with developing a standard product offering that is sold for franchise. The company was founded by Roger Dunshee in 1996 and is headquartered in Fort Pierce, FL.

FORT PIERCE, FL / ACCESSWIRE / November 15, 2021 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company") a designer, manufacturer, distributor, and marketer of recreational and commercial power catamaran boats, today reported operational highlights and financial results for the third quarter of fiscal 2021. We are reporting a 65% increase in top line revenue for the third quarter 2021 compared to the third quarter 2020 and are encouraged by the strong backlog for the remainder of the year," said Joseph Visconti, CEO of Twin Vee PowerCats Co. "We continued to strengthen our performance in the third quarter thanks to robust demand for our products as well as the impressive execution of our team to manage component shortages and other supply chain constraints.

Twin Vee PowerCats Co. Reports a 65% Increase in Revenue for the Third Quarter

FORT PIERCE, FL / ACCESSWIRE / November 10, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, will host a conference call and audio webcast on Monday, November 15, 2021, at 4:30 p.m. (Eastern Time) to discuss and answer questions about the Company's operational and financial highlights for the third quarter of 2021.

Twin Vee PowerCats Co. to Host Third Quarter 2021 Earnings Call on November 15

FORT PIERCE, FL / ACCESSWIRE / November 9, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, today announced that West Palm Beach attorney Bard D. Rockenbach has been appointed to its board of directors.

Bard D. Rockenbach Joins Twin Vee PowerCats Co.'s Board of Directors

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.

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

FORT PIERCE, FL / ACCESSWIRE / October 26, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, today announced that it is designing a new 26 foot GFX sport boat to add to the Company's expanding model line. Twin Vee released several renderings of what the 260 GFX may look like once it is available.

Twin Vee Developing 260 GFX for Estimated $1.32 Billion Market

FORT PIERCE, FL / ACCESSWIRE / October 22, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, today announced that it will unveil its newest and largest Go Fish X (GFX) model at the Fort Lauderdale International Boat Show, which runs from October 27th to 31st. "My team and I are thrilled to finally be able to debut the all-new 340 GFX at the Fort Lauderdale show.

Twin Vee's Newest GFX Models will be on Display at Fort Lauderdale International Boat Show October 27-31

FORT PIERCE, FL / ACCESSWIRE / October 18, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, today unveiled Fix My Boat, a 100% wholly-owned subsidiary. Fix My Boat, Inc. intends to be the first nationally branded, mobile marine service company utilizing a franchising model for marine mechanics across the country.

Twin Vee PowerCats Plans to Launch "Fix My Boat", the First Nationally Branded Mobile Marine Service Company

FORT PIERCE, FL / ACCESSWIRE / October 13, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a manufacturer of recreational and commercial power catamaran boats, announced today that it has signed a land purchase agreement giving it the right to acquire a 14.5-acre parcel near the waterfront in Fort Pierce, Florida. The terms of the agreement grant Twin Vee a 60-day due diligence period that ends on December 6.

Twin Vee PowerCats Signs Land Purchase Agreement to Expand Boat Production Capacity

FORT PIERCE, FL / ACCESSWIRE / October 1, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company") a designer, manufacturer and marketer of recreational and commercial power catamaran boats, today announced the appointment of Carrie Gunnerson as its Chief Financial Officer, effective October 1, 2021. Gunnerson succeeds Donna Barnett, who will continue on a part-time basis to ensure an orderly transition.

Twin Vee PowerCats Co. Appoints New Chief Financial Officer

FORT PIERCE, FL / ACCESSWIRE / September 9, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), (‘Twin Vee' or the ‘Company') a designer, manufacturer, and marketer of recreational and commercial power catamaran boats, today announced that the Company continues to experience a strong demand for its boats. In addition to signed customer sales orders that have been placed with Twin Vee through the Company's network of Twin Vee dealers, the demand for Twin Vee's boats continues to grow through dealer forecasting, such that dealers have forecasted needing in excess of 200 boats.

Twin Vee PowerCats Co. Announces Growing Dealer Demand

FORT PIERCE, FL / ACCESSWIRE / August 25, 2021 / Twin Vee Powercats, Inc. (OTC Markets:TVPC) has released the following statement: We have received many inquiries from our stockholders regarding the relationship between Twin Vee Powercats, Inc. "OTC:TVPC" and Twin Vee PowerCats, Co. "Nasdaq:VEEE." For the period between 2016 through July 20, 2021, TVPC was the parent company and Twin Vee PowerCats Co. was its wholly-owned, operating subsidiary.

Twin Vee Powercats, Inc. Issues Statement

FORT PIERCE, FL / ACCESSWIRE / August 24, 2021 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company") a designer, manufacturer, distributor, and marketer of recreational and commercial power catamaran boats, today reported operational highlights and financial results for the second quarter of fiscal 2021. "We are excited to close out the first half of the year on a positive note, reporting a 92% increase in our second quarter revenue over the prior year," said Joseph Visconti, CEO of Twin Vee PowerCats Co. "We continued to strengthen our performance in the second quarter thanks to robust demand for our recreational power catamarans as well as the impressive execution of our team to manage component shortages and other supply chain constraints.

Twin Vee PowerCats Reports Second Quarter 2021 Operational Highlights and Financial Results

FORT PIERCE, FL / ACCESSWIRE / August 23, 2021 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company") a designer, manufacturer, distributor, and marketer of recreational and commercial power catamaran boats, will host a conference call and audio webcast on Tuesday, August 24, 2021, at 10:00 a.m. (ET) to discuss and answer questions about the Company's operational and financial highlights for the second quarter of 2021.

CORRECTION: Twin Vee PowerCats Co. to Host Second Quarter 2021 Earnings Call on August 24

FORT PIERCE, FL / ACCESSWIRE / August 20, 2021 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company") a designer, manufacturer, distributor, and marketer of recreational and commercial power catamaran boats, will host a conference call and audio webcast on Tuesday, August 24, 2021, at 10:00 a.m. (ET) to discuss and answer questions about the Company's operational and financial highlights for the second quarter of 2021.

Twin Vee PowerCats Co. to Host Second Quarter 2021 Earnings Call on August 24

FT. PIERCE, FL / ACCESSWIRE / August 9, 2021 / Twin Vee PowerCats, Co. (Nasdaq:VEEE), ("Twin Vee" or the "Company"), a designer, manufacturer, and marketer of recreational and commercial power catamaran boats, announced today that it was featured in the most recent episode of "Factory Fridays," which premiered on August 6, 2021 on its YouTube channel. Produced by boats.com, a leading boating authority for boat shoppers and owners, Factory Fridays travels across the country to tour boating's leading manufacturing facilities.

Twin Vee PowerCats Co. Featured in Most Recent Episode of boats.com's Factory Friday Series

FT. PIERCE, FL / ACCESSWIRE / August 3, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company"), a designer, manufacturer, and marketer of recreational and commercial power catamaran boats, announced today that a review of Twin Vee's 280 Center Console GFX is featured in the August 2021 issue of the magazine Rudow's FishTalk . In his review, Lenny Rudow discusses his experience with the 280 CC GFX, supplementing the tour he took of the boat at the 2021 Bay Ridge Boat Show on the magazine's YouTube channel.

Rudow's FishTalk Magazine Reviews Twin Vee 280 CC GFX in August 2021 Issue

FORT PIERCE, FL / ACCESSWIRE / July 29, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), (‘Twin Vee" or the "Company") a designer, manufacturer, and marketer of recreational and commercial power catamaran boats, today announced that the Company has commenced production of its new 340 GFX model boat. The 340 GFX is the first of two new larger models Twin Vee plans to bring to market.

Twin Vee PowerCats Co. Commences Production of New 340 GFX Boat

FORT PIERCE, FL / ACCESSWIRE / July 23, 2021 / Twin Vee PowerCats Co. (NASDAQ:VEEE), ("Twin Vee" or the "Company") a designer, manufacturer and marketer of recreational and commercial power catamaran boats, today announced the closing of its initial public offering of 3,000,000 shares of its common stock at a public offering price of $6.00 per share, for gross proceeds of $18,000,000, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount.

Twin Vee PowerCats Co. Announces Closing of Initial Public Offering

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FORT PIERCE, FL / ACCESSWIRE / July 20, 2021 / Twin Vee PowerCats, Co. (NASDAQ:VEEE), ('Twin Vee' or the 'Company') a designer, manufacturer and marketer of recreational and commercial power catamaran boats, today announced the pricing of its initial public offering of 3,000,000 shares of its common stock at a public offering price of $6.00 per share, for gross proceeds of $18,000,000, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 450,000 shares of common stock to cover over-allotments at the initial public offering price, less the underwriting discount.

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