Billy Thalheimer (CEO) and Michael Klinker (CTO) from REGENT
REGENT
A Boston-based start-up called Regent wants to make flying ferries the best way to travel between coastal cities.
The start-up develops an “electric seaplane” that can exit a port with a hydrophilic, take off at low speed using water as a runway, then fly over waves at a maximum speed of 180 miles per hour bringing passengers to their destination. according to co-founders Billy Thalheimer and CTO Michael Klinker.
The duo previously worked for a Boeing company, Aurora Flight Sciences, and both are FAA-licensed private pilots. Thalheimer told CNBC that Regent wants to travel between coastal cities fast, safe, accessible and reliable, with the least possible environmental footprint. (The company name is an acronym for regional shipping with electric ground effect.)
The sea gliders that Regent technically designed fall into the Wing in Ground Effect craft or WIGs category. Historically, they have not been regulated by the Federal Aviation Administration, but by the US Coast Guard.
Importantly, Regent is developing its glider to work with existing port infrastructure, says the CEO. He notes that it is still necessary to load into ports for the general adoption of electric vehicles there, whether they are electric air taxis, boats or land vehicles.
The company will seek to establish passenger routes between major hubs such as Boston and New York, Los Angeles and San Francisco, or shorter routes such as New York City to the Hamptons or routes connecting the Hawaiian Islands.
(Illustration) REGENT develops an electric glider, flying, with a maximum speed of 180 miles per hour.
Kindness: REGENT
But for now, with $ 9 million in fresh seed funding in hand, the start-up is focusing on a prototype.
“We will fly a prototype at a quarter by the end of this year,” Thalheimer said. “The prototype will have a wingspan of about 15 feet and will weigh about 400 pounds. We need to make sure it operates in representative operational environments, such as waves and different weather.”
The company expects to make its first flight to the Boston area, but is shopping in one place to test elsewhere in the harsh winters of New England.
Unlike previous generations in technology, says Thalheimer, working on a start-up that deals with atoms not just bits and bytes is easier than ever. Regent pursues the success of robotics and electric vehicle companies such as Kiva Robotics, Tesla, DJI and others.
“Investors have been delighted with this. And we hear from many cities that they are coming here and we will help you,” Thalheimer said. “We believe that Boston’s culture is helping us today. We’re in the MIT ecosystem, Harvard. And we have excellent connections in the robotic and aerospace scene here as well ”. (Among others, Boston hosts companies such as Raytheon and Draper Laboratory.)
Investors in the Regent’s ferry business include Caffeinated Capital, an early supporter of supersonic jet startup Boom, Mark Cuban, Peter Thiel’s Founders Fund, Y Combinator and others.
Caffeinated Capital founder Raymond Tonsing said he sees the Regent embodying the future of electric planes, with a super-fast ferry service that could even one day compete with cars.
“Basically, we’re in a transition from using fossil fuels to A to B, including when you don’t touch the ground. And you know? This is a massive market, and I think Regent has a very good plan to be flying passengers. over a period of about 4 years. “
The relatively rapid market entry plan exists to a small extent because the company expects to deal with the rules and regulations governing shipping, not aircraft, Tonsing explained.
It will take more time for a new jet plane to be approved for passenger flight. While safety is still paramount, a wig will fly in the lower airspace over the waves. It is not meant to fly over cities, houses and roads.
Investor Mark Cuban also said in an e-mail sent to CNBC: “Time is the most valuable asset we do not have. Regent makes so many difficult journeys simple and fast. Its impact will be significant and global. “
Although there isn’t a lot of competition to develop electric passenger seaplanes like Regent, there are some electric and hybrid-electric craft that could compete for similar contracts or funding in the future.
These companies include other developers WIG Flying Ship Company and DRC Aqualines, along with electric vehicle boat manufacturers such as Pure Watercraft in Seattle, Candela, based in Switzerland, and Wellington Electric Boat Building Company in New Zealand.