REGENT Announces Strategic Investment from Mitsui O.S.K. Lines (MOL)
June 25 2024 - 6:05PM
- REGENT announces strategic investment from Japanese shipping
company Mitsui O.S.K. Lines (MOL)’s corporate venture capital firm
MOL Switch LLC.
- The investment will support REGENT in bringing its all-electric
seagliders to market in Japan and other coastal destinations around
the world.
- The strategic partnership will also advance a sustainable Blue
Economy.
- Learn more about the opportunity for REGENT seagliders in Japan
here.
North Kingstown, RI, June 25, 2024 – REGENT Craft, the
manufacturer of all-electric seagliders for sustainable maritime
mobility, announced today a strategic investment from MOL Switch
LLC, a US-based corporate venture capital firm that is part of
Japanese transport company Mitsui O.S.K. Lines (MOL), one of the
largest shipping companies in the world. The investment will
support REGENT bringing seagliders to market in Japan and in
coastal destinations around the globe.
REGENT seagliders provide efficient, sustainable options to
augment coastal transportation ecosystems. The hydrofoiling
wing-in-ground-effect vessel leverages existing dock infrastructure
to carry people and goods over water up to 180 miles between
coastal destinations – all with zero emissions.
“This strategic partnership marks a significant step forward for
seaglider market adoption in Japan. Having MOL as a maritime
champion for seaglider technology underlines REGENT’s
market-leading traction in the country and paves the way to bring
our high-speed, all-electric transportation solutions to coastal
communities.” — Billy Thalheimer, Co-founder and CEO, REGENT
Advancing maritime
innovation
REGENT is the first to unlock the commercial viability of
ground-effect vehicles, combining the speed of an aircraft with the
convenience of a boat.
“REGENT’s pioneering technology and commitment to sustainability
align with MOL’s core mission to apply innovative technology and
services to advance environmental conservation. The partnership
reflects our shared commitment to ensuring safe transportation and
building a sustainable future.” —Tomoaki Ichida, CEO, MOL Switch
LLC
Growing ecosystem for seagliders in
Japan
MOL Switch’s strategic investment in REGENT is part of growing
interest in seaglider technology in Japan. H.I.S. Group, one of
Japan’s largest travel agencies, Japan Airlines Innovation Fund,
the venture arm of Japan Airlines (JAL), and Yamato Holdings,
Japan’s largest parcel delivery and logistics company, are also
strategic investors in REGENT.
About 80% of Japan’s population lives on or near coastal areas,
and the maritime industry is critical to the country’s economy.
Seagliders provide affordable, convenient, and sustainable options
to transport people and goods in the country, augmenting existing
transportation options and supporting lives and
livelihoods.
About REGENT
REGENT is pioneering the future of sustainable maritime mobility
through the development and manufacturing of all-electric
seagliders. Seagliders are a new category of vehicle that combine
the speed of an aircraft with the convenience of a boat to deliver
an affordable and efficient mode of transportation between coastal
destinations.
REGENT’s flagship seaglider, Viceroy, is a 12-passenger vehicle
that travels at 180mph to service routes up to 180 miles on a
single charge. REGENT 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 including 8090 Industries, Founders Fund,
Japan Airlines, and Lockheed Martin.
Notes for
editors
- Learn about seagliders here
- Explore REGENT’s website
- Discover REGENT’s media kit
- Read REGENT’s FAQs
- Follow REGENT on LinkedIn
- Follow REGENT on Instagram
About MOL Switch
MOL Switch LLC, a subsidiary company of Mitsui O.S.K. Lines
(MOL), is a corporate venture capital firm established in the US.
MOL Switch invests in startups that develop decarbonizing
technologies and business models in the energy sector. Through
these innovative and sustainable technologies, MOL creates a green
future for generations to come.
For more than 140 years, MOL has contributed to the development
of global industries and communities across the blue ocean.
However, recent years has made it clear that MOL need to change the
course of action, and it is imperative that MOL take a green
approach to ensure that the oceans of tomorrow remain as blue as
they are today.
MOL Switch proposes a "switch" — a change in the way to think
about energy going forward, alter our power consumption and its
circulation, and transition from fossil fuels to renewable, clean
power. To learn more, visit https://molswitch.earth/.
- REGENT — MOL Switch Partnership
Kirsten Salyer
REGENT
401-328-0532
kirsten.salyer@regentcraft.com