Rhode Island-Based Regent Announces Deal With United Marine Egypt - Delivery by End of Decade
GoLocalProv Business Team
Rhode Island-Based Regent Announces Deal With United Marine Egypt - Delivery by End of Decade
Regent did not disclose the number ordered or the revenue generated by UME's purchase.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST
Regent is working to produce seagliders of multiple sizes.
According to Regent, the deal builds on UME’s existing order for the 12-passenger Viceroy seagliders, reflecting increasing demand for seaglider transportation solutions across the globe.
Regent claims it has already secured more than 600 seaglider orders valued at more than $9 billion from leading airline and ferry operators around the world and has raised more than $90 million from investors.
In the past month, Rhode Island Commerce Corporation approved new incentives, including $1 million under the First Wave Closing Fund Act to support Regent’s operational expansion in Rhode Island and $3 million under the Rebuild Rhode Island Tax Credit Act.
In addition, Regent’s previous award under the Qualified Jobs Incentive Act, approved in June of 2022, was amended to reflect a new hiring schedule. Regents’s job commitment is 300 over ten years, with a potential of up to 750, a claim of a dramatic decrease.
“Regent’s partnership with UME demonstrates the growing need for sustainable, high-speed transportation solutions,” said Adam Triolo, VP of Commercial Business Development at Regent. “We look forward to working together to bring seagliders to coastlines in the Red Sea and beyond.”
“UME is proud to partner with Regent as the first delivery customer of Monarch seagliders,” said Capt. Mohamed Badawy, Chairman, UME. “The partnership represents our shared commitment to innovation in the shipping industry with the potential to increase sustainability and efficiency.”
According to the company:
- Seagliders combine the high speeds of aircraft with the convenience and low costs of boats — all with zero emissions.
- The novel vessel is an all-electric hydrofoiling wing-in-ground (WIG) craft, which means it always operates in ground effect, a phenomenon that occurs within one wingspan of the surface of the water and provides increased aerodynamic efficiency, allowing it to travel further on a single charge.
- The Monarch seaglider will travel up to 400 miles (650 km) at 140 mph (225 kph) with 50-100 passengers or a 22,000lbs (10,000kg) payload. The Viceroy seaglider will travel up to 180 miles (300 km) at 180 mph (300 kph) with 12 passengers or a 3,500lbs (1,600kg) payload.