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Regent Gains Investment from Japan Airlines Innovation Fund

Regent, the U.S com­pa­ny pio­neer­ing elec­tric-pow­ered seaglid­ers, recent­ly announced anoth­er invest­ment (amount undis­closed), this time from Japan Air­lines (JAL) Inno­va­tion Fund, rais­ing the company’s total to over USD45 mil­lion, reports a press release. Oth­er investors include Thiel Cap­i­tal, Y Com­bi­na­tor, Founders Fund and Mark Cuban. 

Bil­ly Thal­heimer, co-founder and CEO of Regent, com­ment­ed, “At Regent, we’re at the helm of ush­er­ing in a com­plete­ly new era in sus­tain­able trans­porta­tion, and JAL Inno­va­tion Fund’s invest­ment adds to the resources and sup­port that we need to unveil an inno­v­a­tive approach for region­al trav­el at low­er costs, faster speeds and zero emis­sions.”

Yasushi Noda, Senior Vice Pres­i­dent of Dig­i­tal Inno­va­tion at Japan Air­lines, added, “We believe seaglid­ers are a safe, sus­tain­able, and eco­nom­i­cal solu­tion and we are excit­ed to work with Regent to assess demand not only in Japan, but around the world.”

The company’s Seaglid­er, named Viceroy, can car­ry up to 12 pas­sen­gers and/or car­go. It is a new mode of trans­porta­tion that com­bines the high speeds of an aero­plane with the low oper­at­ing cost of a boat. It lever­ages exist­ing dock infra­struc­ture to car­ry peo­ple and goods up to 180 miles between coastal des­ti­na­tions. Regent has sold over 400 exam­ples to date, to glob­al avi­a­tion and fer­ry cus­tomers includ­ing Mokulele Air­lines, South­ern Air­ways Express, FRS (Ger­many), and Ocean Fly­er (New Zealand).

With more than USD7.5 bil­lion in orders from com­mer­cial oper­at­ing part­ners around the world, Regent aims for its Viceroy, to enter ser­vice with­in three to four years.

In addi­tion to the invest­ment, Regent and JAL are explor­ing oppor­tu­ni­ties for ecosys­tem devel­op­ment, bring­ing togeth­er rel­e­vant stake­hold­ers to deliv­er the ben­e­fits of seaglid­ers to new and under­served mar­kets.

For more infor­ma­tion

https://www.regentcraft.com/

https://pitchbook.com/profiles/fund/16537–24F#overview

(Graph­ic Images: Regent)

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