Rhode Island
GoLocalProv | Business | A Rhode Island Startup Has $8 Billion Dollars in Orders and Just Launched Its Prototype
Sunday, April 16, 2023
Regent Seaglider IMAGE: Firm
Regent, the Rhode Island-based startup, is piling up huge information. On Friday, the corporate unveiled its first full-scale mock-up of its seaglider prototype.
The corporate is creating the wing-in-ground (WIG) impact automobile as future sea-skimming ferries. The idea is de facto a brand new class of maritime automobile that mixes the excessive velocity of an airplane with the low working price of a ship and could be licensed and controlled within the maritime class.
Possibly by no means earlier than in Rhode Island historical past has a enterprise stacked $8 billion in orders, in response to the corporate.
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CEO Billy Thalheimer stated, “Our research, primarily based on publicly validated knowledge, present that our seagliders serve an $11 billion market that we challenge to swell to as a lot as $25 billion as battery expertise advances. The $8 billion in orders our firm has already obtained from quite a lot of firms world wide replicate the necessity for quick, dependable, and sustainable maritime transportation.”
The corporate has obtained orders for greater than 400 seagliders — that complete $8 billion. These orders come from airline and ferry operators world wide.
Full-sized prototype unveiled on Friday in North Kingstown PHOTO: Firm
Breeze CEO David Neeleman, joins Regent’s board PHOTO: GoLocal
Addition of Prime Tier Board Members, Large Title Buyers
This previous week Regent named Dennis Muilenburg, former CEO of The Boeing Firm, and David Neeleman, co-founder of Breeze Airways, JetBlue, and Azul Airways, to its Board of Advisors. The executives deliver a broad set of aerospace expertise and enterprise growth experience to Regent as the corporate enters its subsequent part of progress.
“Dennis and David deliver many years of mixed expertise in expertise growth, world manufacturing and distribution, and industrial operations that will likely be invaluable as REGENT appears to be like forward to delivering our first Viceroy seagliders by mid-decade,” stated Thalheimer. “They’ve managed by means of all of the laborious elements of creating, deploying, and working cutting-edge expertise across the planet earlier than. Their assist underscores the numerous market enthusiasm we’ve seen from our clients world wide that sustainable transportation—particularly within the type of our seagliders—is the long run.”
“I’ve spent my profession enabling new, simpler, extra accessible methods for folks to journey, and Regent seagliders fill an pressing want for quick and sustainable coastal transportation,” stated Neeleman. “It’s crucial for the producer to have the pursuits and considerations of the operator top-of-mind, and that’s precisely the voice I’ll deliver to Regent management. I’m thrilled to affix Regent at this important juncture and lend my experience in serving to to deliver seagliders to clients and passengers world wide.”
“All through my 38 years of aerospace expertise delivering capabilities for patrons, the profitable mixture has been a product and expertise whose worth is clearly transformative, with a sensible plan to go from ideation to manufacturing readiness. That is what I see at Regent” stated Muilenburg. “Scaling world distribution and assist of aerospace applied sciences shouldn’t be simple, however I’m supremely assured on this staff. Regent has already begun establishing the manufacturing capabilities and provide chain partnerships that may give them the sturdy skill to scale world manufacturing and ship on their backlog, safely and successfully.”
Mark Cuban an investor PHOTO: CC: 2,0 Tech Crunch
Regent seagliders are a brand new class of maritime automobile that mixes the excessive velocity of an airplane with the low working price of a ship. These all-electric, zero-emission vessels function completely over water and leverage current dock infrastructure to hold folks and items as much as 180 miles with current battery expertise, at 180 miles per hour between coastal locations.
The corporate has obtained orders for greater than 400 seagliders price $8 billion from airline and ferry operators world wide, in addition to strategic investments from firms together with Lockheed Martin, Japan Airways, and Hawaiian Airways. REGENT has raised greater than $50 million so far from traders, together with Thiel Capital, Y Combinator, Founders Fund, and Mark Cuban.
Seaglider rendering IMAGE: Firm
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