REGENT Announces Strategic Investment from Lockheed Martin Ventures
North Kingstown, R.I., March 22, 2023 (GLOBE NEWSWIRE) -- REGENT, the pioneer in electric seaglider manufacturing, has received a strategic investment from Lockheed Martin Ventures, the venture arm of Lockheed Martin (NYSE:LMT), a global leader in defense and aerospace technology, to expedite the development of seagliders for defense missions.
REGENT seagliders are a new category of maritime vehicle that combine the high speed of an airplane with the low operating cost of a boat. These all-electric, zero-emission vessels operate exclusively over water and leverage existing dock infrastructure to carry people and goods up to 180 miles, at 180 miles per hour between coastal destinations.
Seagliders fulfill a recognized need within the U.S. Department of Defense for high-speed, low-cost, low-signature, runway independent mobility in the littorals. With capabilities for carrying passenger, cargo, or hybrid payloads, REGENT seagliders are uniquely suited for a variety of civilian and defense applications in maritime environments including logistics resupply, cargo transport, and search and rescue.
"We see defense strategy evolving toward an island-hopping force featuring agile, affordable, and distributed craft," said Billy Thalheimer, co-founder and CEO of REGENT. "This investment is a strong signal that seagliders can fill this immediate need in the high-priority missions faced by our Department of Defense. Lockheed Martin's expertise and resources will be invaluable as we work together to adapt seagliders for defense use cases that are critically important to national security."
"We believe that REGENT seagliders can bring tailored solutions to the future battlespace," said Chris Moran, vice president and general manager of Lockheed Martin Ventures. "This investment reflects our commitment to innovating technologies that have the potential to transform the way we adapt to our customer's needs and support mission success."
REGENT has sold over 400 seagliders to date, to global aviation and ferry customers including Mokulele Airlines, Southern Airways Express, FRS (Germany), and Ocean Flyer (New Zealand). With more than $7.9 billion in orders from commercial operating partners around the world, REGENT aims for its 12-passenger seaglider, Viceroy, to enter service by mid-decade.
About REGENT
REGENT is leading the way in sustainable maritime transportation. Using cutting-edge technology and innovative design, REGENT has created a new category of vehicle that is fast, efficient, and emission-free. REGENT's seagliders combine the speed of an airplane with the maneuverability of a boat and travel exclusively over water between ports while utilizing existing dock infrastructure. Seagliders can be seamlessly integrated into any fleet and REGENT has already obtained $7.9 billion in orders from major airlines and leading ferry operators in 5 different continents. For more information, visit regentcraft.com.
About Lockheed Martin Ventures
Lockheed Martin Ventures makes strategic investments in companies that are developing cutting-edge technologies in core businesses and new markets important to Lockheed Martin. More than a source of capital, Lockheed Martin Ventures provides portfolio companies with access to our world-class engineering talent, state-of-the-art technologies, and research and access to the company's international business relationships and supply chain. For more information visit: www.lockheedmartinventures.com
Attachments
- REGENT Seaglider Outfitted for Defense Passenger Transport Mission
- REGENT Seaglider Outfitted for Defense Cargo Transport Mission
Siddharth Nigam REGENT regent@gravitatepr.com
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