Envirotech Eyes Marine Expansion Through Kymera Acquisition - Shark Tank-Backed Innovator to Anchor New Division

Envirotech Vehicles, Inc. (NASDAQ:EVTV) is making a strategic push into the electric marine sector with its non-binding Letter of Intent to acquire Kymera, the manufacturer behind the acclaimed Shark Tank-featured Body Board. The Houston-based zero-emission mobility company plans to establish a dedicated marine division, extending its transportation portfolio beyond land and into water-based markets.

The acquisition signals Envirotech’s broader ambition to dominate next-generation transportation across multiple domains. Envirotech aims to close the transaction in the second quarter of 2025, contingent on successful due diligence and board approvals from both parties. Once finalized, Kymera will operate as a distinct business unit under Envirotech’s growing ecosystem of electric mobility solutions.

Kymera’s Proven Market Traction

Kymera brings substantial credibility to the partnership, having captured national attention through two appearances on ABC’s Shark Tank. The company’s flagship product, the award-winning Kymera Body Board, has established itself as a disruptive force in recreational watercraft and marine safety solutions. This proven market validation positions the acquisition as a lower-risk entry point into the marine electric propulsion landscape.

The marine division will initially target two high-value market segments: recreational watercraft and military & tactical applications. This dual-focus approach allows Envirotech to capture both consumer leisure spending and specialized defense sector opportunities.

Leadership and Execution

Adam Majewski and Jason Woods, Kymera’s co-founders and architects of its breakthrough technology, will lead the new marine division. Majewski will assume the President role, while Woods takes on Chief Technology Officer responsibilities. Together, they bring over a decade of expertise in designing sophisticated electric propulsion systems for both recreational and tactical marine environments.

Grahame Ewins will oversee the expansion of Kymera’s retail and distribution infrastructure, managing both domestic and international market penetration should the transaction reach completion.

Jason Maddox, President and Interim CFO of Envirotech, underscored the strategic value: “We believe Kymera will be a high-impact addition to Envirotech’s growing technology base. The acquisition, combined with Kymera’s proven team, creates the foundation for our marine division’s rapid scaling.”

Majewski emphasized the opportunity: “By partnering with Envirotech, we gain the capital and operational expertise to accelerate growth in recreational and military segments. This partnership represents the culmination of more than a decade of innovation.”

Woods added: “Envirotech’s resources and guidance position us to scale significantly across the markets we serve.”

Transaction Status and Outlook

The definitive acquisition agreement remains subject to standard closing conditions, including completion of due diligence, final agreement on transaction terms, and Board of Directors approvals. While no certainty exists regarding execution or successful completion, the signing of a Letter of Intent signals serious mutual commitment.

Envirotech’s expansion into marine electric mobility reinforces its positioning as a comprehensive zero-emission transportation provider, with ambitions spanning land, air, and water-based solutions.

About Envirotech Vehicles, Inc.

Envirotech Vehicles, Inc. (NASDAQ: EVTV) develops and manufactures cutting-edge, zero-emission commercial transportation solutions. The company is focused on delivering next-generation electric mobility across multiple transportation categories.

Forward-Looking Statements Disclaimer

This announcement contains forward-looking statements regarding future plans, financial results, and business prospects. These statements are based on current management expectations and are subject to various risks and uncertainties that could materially differ from actual results. Readers should refer to SEC filings for complete risk disclosures and should not place undue reliance on forward-looking statements made as of this date.