Envirotech Vehicles signs LOI to acquire Kymera

Envirotech Vehicles (EVTV) announced the signing of a non-binding Letter of Intent to acquire the assets of Kymera, a manufacturer of marine craft. The Company intends for the business to serve as the foundation of Envirotech’s new marine division. As planned, Envirotech intends to enter the electric marine mobility space with the acquisition, reinforcing its long-term vision to deliver next-generation, zero-emission transportation across land, air, and sea. Should the LOI lead to a binding agreement between the parties, Envirotech intends for the Kymera marine division to focus on two high-impact verticals: recreational watercraft and military & tactical applications. Envirotech intends for Kymera to be led by Adam Majewski and Jason Woods, co-founders of the company that invented the award-winning Kymera Body Board – a revolutionary product that has appeared twice on ABC’s Shark Tank and continues to redefine water-based adventure and safety solutions. Together, Majewski and Woods bring more than a decade of experience in designing high-performance electric propulsion systems for recreational and tactical marine environments. Rounding out the team is Grahame Ewins, who will spearhead the buildout of Kymera’s domestic and international retail and distribution networks should the final transaction consummate.