Imagine boarding a vessel at a dock, gliding out of the harbor on hydrofoils, and then lifting off to fly at 180 mph just a few feet above the ocean surface, all on electric power, with no runway, no aviation fuel, and no FAA certification required. That is the promise of the REGENT Viceroy, a 12-passenger “seaglider” that blurs the line between boat and aircraft. Founded by two MIT engineers who left Boeing, REGENT Craft has just raised $240 million to bring this radical coastal transport vehicle to market, and its first fully airborne crewed flight is imminent.
REGENT, which stands for Regional Electric Ground Effect Nautical Transport, is not building a conventional electric aircraft. It is building a new category of maritime vehicle that exploits a well-known aerodynamic phenomenon called ground effect to fly faster and farther than any electric plane on the same battery, while staying under maritime jurisdiction the entire time.
What Is a Seaglider, and How Does It Work?
A seaglider is a wing-in-ground-effect (WIG) vehicle, a type of craft that flies close to a surface and benefits from a cushion of trapped air between its wings and the water. This aerodynamic effect reduces drag and increases lift, allowing the vehicle to travel roughly twice as far as a conventional electric aircraft on the same battery charge. Pelicans and albatrosses use the same principle, gliding inches above the waves with minimal effort.
The Viceroy operates in three distinct modes:
- Float mode: At the dock and in harbors, the Viceroy sits on the water like a conventional boat. Passengers board from a standard pier with no special infrastructure required.
- Foil mode: As the vessel leaves the harbor, retractable hydrofoils deploy, lifting the hull clear of the water. This provides a smooth ride through choppy coastal waters at speeds up to 50 knots (roughly 58 mph), about twice the speed of typical production hydrofoil boats.
- Fly mode: Once in open water, the hydrofoils retract and the Viceroy accelerates onto its wing, cruising within one wingspan (about 65 feet) of the ocean surface at speeds up to 160 knots (180 mph). The craft never climbs into the sky or enters controlled airspace.
This three-mode operation is the key to REGENT’s regulatory strategy. Because the Viceroy always stays within ground effect and never enters controlled airspace, it is classified as a maritime vessel under International Maritime Organization (IMO) guidelines. In the United States, the U.S. Coast Guard oversees certification as a small passenger vessel under 46 C.F.R. Subchapter T, not the FAA. Congress recently directed the Coast Guard to build the capacity to certify and inspect WIG craft, giving REGENT a clear regulatory pathway that electric aviation startups like Joby and Archer do not have.
Viceroy Specifications: A Closer Look at the Aircraft
The Viceroy is a serious piece of engineering. Here are the key specifications from REGENT’s product page:
| Specification | Value |
|---|---|
| Length | 55 ft (16.8 m) |
| Wingspan | 65 ft (19.8 m) |
| Height | 18 ft (5.5 m) |
| Max Takeoff Weight | 15,000 lbs (6,800 kg) |
| Seating | 12 passengers + 2 crew |
| Cruise Speed | 160 knots / 180 mph / 300 kph |
| Range (current batteries) | 160 nautical miles / 180 statute miles / 300 km |
| Range (next-gen batteries) | 400+ nautical miles (projected) |
| Passenger Payload | 3,000 lbs (1,360 kg) |
| Cargo Payload | 3,500 lbs (1,600 kg) in 834 cu ft |
| Noise Level | 30 dB quieter than comparable aircraft or helicopters |
| Emissions | Zero (100% electric) |
The propulsion system uses 12 redundant electric motors in a distributed “blown wing” configuration. This arrangement enables low-speed comfort during takeoff and landing while providing safety through motor redundancy. The deep-V hull allows comfortable landings in multiple sea states, a design choice made possible by the hydrofoils handling high-speed water transit rather than relying on a flat planing hull.
The cabin measures 26 feet long, 6 feet high, and 5.5 feet wide, with a flat floor and 34 inches of seat pitch. An 88 cubic foot luggage area sits behind the passenger compartment. The cargo door, at 6 feet 5 inches tall by 54 inches wide, accommodates containerized, palletized, or hand-loaded freight.
Designed for Six Different Mission Types
One of the Viceroy’s distinguishing features is its quick-change cabin design, which allows operators to reconfigure the interior for different missions with minimal downtime. REGENT markets the seaglider for six distinct use cases:
- Passenger transport: The default 12-seat configuration for coastal ferry routes, replacing short-haul flights and slow ferries between coastal cities.
- Cargo: A freight configuration carrying 3,500 lbs in 834 cubic feet, bypassing congested highways for open waterways.
- Tourism: A sightseeing platform offering panoramic views, exceptional quiet, and high-speed coastal experiences.
- Offshore logistics: Moving personnel and equipment between shore and offshore rigs, with high wave tolerance and 180 mph cruise speed.
- Search and rescue: Rapid emergency response with a three-bed medical interior and 3,500 lbs of payload for evacuations.
- Defense: Low-signature flight for special operations forces infiltration/exfiltration, sensor relay, and communications platforms.
This versatility is central to REGENT’s business model. The same airframe, with different cabin modules, serves commercial ferry operators, cargo companies, tourism operators, offshore energy firms, and military customers.
The Founders: From Boeing and Blue Origin to a Rhode Island Boatyard
REGENT was founded in 2020 by Billy Thalheimer and Mike Klinker, who met as freshmen in an aerospace engineering class at MIT. Their career paths through the aerospace industry gave them a clear-eyed view of how difficult it is to certify a new electric aircraft.
Thalheimer worked at Blue Origin and Virgin Galactic before joining Aurora Flight Sciences, where he led flight physics for Boeing’s electric air taxi project. Klinker developed control software for autonomous vehicles at MIT Lincoln Laboratory and Aurora Flight Sciences. Both left the aerospace sector to pursue a different regulatory path: building a vehicle that would be classified as a boat, not a plane.
The company relocated from the Boston area to North Kingstown, Rhode Island, to take advantage of the state’s coastal testing sites and its deep expertise in maritime composites manufacturing. A quarter-scale prototype was successfully tested in Narragansett Bay in 2022, and the full-scale prototype, named Paladin, has been conducting sea trials there since March 2025.
$240 Million to Scale Manufacturing Before the First Flight
REGENT announced a $240 million Series B round in August 2026, split equally between equity and debt. Mare Liberum and AE Ventures co-led the round, with Erebor Bank, co-founded by Palmer Luckey, providing half the debt. DCVC joined alongside returning investors Founders Fund, Caffeinated Capital, Lockheed Martin Ventures, Japan Airlines, and Giant Step Capital. The company’s previous disclosed round was a $60 million Series A in 2023 with Mark Cuban as an investor.
This brings total funding to $340 million, nearly four times the Series A. The timing is notable: REGENT raised this capital based on contracts and a completed factory, not a completed flight. The first fully aerial human flight of the Viceroy is expected later in 2026.
“This investment marks a critical inflection point for REGENT as we move from development into production,” said CEO Billy Thalheimer. “We have built significant momentum across both our defense and commercial pipelines, and this funding enables us to scale manufacturing, execute key certification milestones, and deliver Seagliders to customers.”
The funds will accelerate manufacturing at REGENT’s recently completed 255,000-square-foot facility in Rhode Island and support certification work ahead of the Viceroy’s first full flight.
From Coastal Ferries to a Defense Platform
REGENT originally targeted the commercial coastal transport market, positioning the seaglider as a faster, cheaper alternative to short-haul ferries and regional flights. The company has already secured more than $9 billion in pre-orders from airlines and ferry operators on six continents. It is also deepening a partnership with Abu Dhabi’s Strategic Development Fund, owned by the EDGE Group, for seaglider operations and manufacturing in the UAE.
But the company’s fastest-growing segment is defense. REGENT has:
- Extended its contract with the U.S. Marine Corps for the Viceroy platform to $15 million
- Developed an autonomous military variant called Squire, designed for speeds up to 80 mph
- Established a dedicated REGENT Defense unit to support the Department of Defense’s maritime operations
- Signed new agreements with Poland’s Balnord for Baltic Sea operations and Greece’s iGrow for Aegean operations
Admiral Lorin Selby, general partner at Mare Liberum, described the opportunity: “As maritime defence priorities evolve, operators need new capabilities that deliver greater speed, reach, and flexibility. REGENT is a leader in this emerging category.”
How REGENT Compares to the Competition
REGENT operates in an increasingly crowded field of electric maritime and aviation startups, but its regulatory positioning sets it apart:
| Company | Vehicle Type | Speed | Regulatory Path | Key Differentiator |
|---|---|---|---|---|
| REGENT (USA) | WIG seaglider | 180 mph | Maritime (Coast Guard) | 12 pax, defense contracts, $9B+ pre-orders |
| Joby Aviation (USA) | eVTOL air taxi | 200 mph | Aviation (FAA) | Urban air mobility, FAA type certification |
| Archer Aviation (USA) | eVTOL air taxi | 150 mph | Aviation (FAA) | Urban air mobility, Midnight aircraft |
| Candela (Sweden) | Electric hydrofoil | 30+ knots | Maritime | Smaller vessels, consumer/commuter focus |
| Kraken Technology Group (UK) | Maritime defense craft | Classified | Maritime/Defense | $175M Series B, $1B+ valuation, defense focus |
The critical distinction is regulatory. Companies like Joby and Archer must obtain FAA type certification, a process that takes years and costs hundreds of millions of dollars. REGENT’s maritime classification under the Coast Guard is a fundamentally faster and less expensive path to market. The International Maritime Organization (IMO) classifies WIG craft as Type A (operating only in ground effect), Type B (temporarily exceeding ground effect up to 150 meters), or Type C (operating above 150 meters). REGENT’s Viceroy is a Type A craft, meaning it stays within ground effect at all times and falls entirely under maritime regulation.
What Comes Next
The immediate milestone is the Viceroy’s first fully loaded crewed flight, expected later in 2026. If successful, it will validate the core technology and clear the path toward customer deliveries, which REGENT has projected for 2026 to 2027.
Beyond that, the company is betting on next-generation battery technology to extend range from 160 nautical miles to over 400 nautical miles, which would open up significantly longer coastal routes. The 255,000-square-foot Rhode Island manufacturing facility is ready to scale production once certification is complete.
Whether REGENT’s approach works will ultimately be determined by the results of that first flight. But with $340 million in funding, $9 billion in pre-orders, a completed factory, active defense contracts, and a regulatory pathway that sidesteps the FAA entirely, the company has built a launchpad that few hardware startups ever achieve before their product flies.
Frequently Asked Questions
How high does the REGENT seaglider fly?
The Viceroy operates in ground effect, always staying within one wingspan of the water’s surface, approximately 65 feet or less. This keeps it within the maritime operating environment and under Coast Guard jurisdiction rather than FAA oversight.
Is the REGENT seaglider an airplane or a boat?
Legally, it is classified as a maritime vessel. The International Maritime Organization classifies WIG craft that operate only in ground effect as Type A vessels, governed by maritime law. The U.S. Coast Guard certifies the Viceroy as a small passenger vessel under 46 C.F.R. Subchapter T.
How far can the REGENT Viceroy travel on a single charge?
With current battery technology, the Viceroy has a range of 160 nautical miles (approximately 180 statute miles or 300 km). REGENT projects that next-generation battery technology could extend this range to over 400 nautical miles.
How fast is the REGENT seaglider?
The Viceroy cruises at 160 knots, equivalent to 180 mph or 300 kph. This makes it roughly three to four times faster than conventional ferries and competitive with short-haul regional flights for coastal routes.
How much does the REGENT Viceroy cost?
REGENT has not publicly disclosed per-unit pricing. The company has secured over $9 billion in pre-orders from airlines and ferry operators across six continents, suggesting significant commercial demand at undisclosed price points.
