Envirotech Vehicles signs non-binding 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. Should the LOI lead to a binding agreement between the parties, Envirotech intends for the Kymera marine division to focus on two 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 Kymera Body Board.