Production of a new Formula 382 FASTech with twin 725-hp Ilmor engines and Indy drives—the first 38-foot Formula sportboat to be equipped with the naturally aspirated V-10 propulsion packages—will begin in late December. The recently ordered model is the third 382 FASTech sold in 2011, according to Scott Porter, the chief executive officer of the Decatur, Ind., company

“We’re really excited about it,” said Porter. “The FASTech line has been slow for the past three years, but we think it might be picking up a bit and we’re optimistic. Plus, this is the first Ilmor engine installation we’ve done in a FASTech—we did one with Ilmor 725s in a 400 Super Sport, and it was awesome to that boat running at more than 70 mph.”

Porter said he expects the boat, which he said is going to a buyer who will use it on Lake Powell, to top out in the 95-mph range. On-water testing and dialing in of the 38-footer will begin sometime in late January or early February.

“We have to go out a bit south to get it done,” said Porter, who laughed. “That’s just how life is here in the great frozen north.”