Participated · Equity · Feb 2022

REGENT develops and manufactures all-electric, hydrofoiling seagliders that operate exclusively over water and leverage existing dock infrastructure to service coastal routes up to 180 nautical miles. Its vehicles couple aircraft-like speed with boat-like operating cost and are zero-emission. The company’s 12-passenger Viceroy seaglider is expected to enter service by mid-decade. REGENT has already secured an order backlog of more than 600 seagliders worth over $9 billion from airline and ferry operators on six continents. The company is positioning seagliders for both passenger tourism and regional coastal mobility markets, with particular focus on integration into travel infrastructure. REGENT is based in Rhode Island and is advancing commercialization through partner engagements and customer orders. Regent develops electric seagliders — wing-in-ground-effect (WIG) vehicles that operate as hydrofoiling watercraft in harbors and fly within a wingspan of the water for dock-to-dock over-water transport. The craft exploit ground effect for aerodynamic efficiency, reaching cruise speeds up to 180 mph and ranges up to 180 miles on a single charge; Regent expects battery ranges of 350–500 miles by the end of the decade. The company argues WIG vehicles fall under maritime jurisdiction, enabling a more straightforward certification pathway under maritime law while maintaining safety standards. Regent has two products in development: Viceroy, a 12-passenger vehicle targeted to enter service by mid-decade, and Monarch, a 100-passenger seaglider. The Rhode Island–based startup plans trials next summer and aims for its first human flight by the end of 2024. The new funding will be used to build and test a proof-of-concept prototype and to grow the team from about 55 people to roughly 100 in 2024; the company has raised $90 million to date. REGENT builds all-electric, wing-in-ground-effect seagliders designed to provide harbor-to-harbor, overwater regional transportation at lower cost, noise, and emissions than aircraft and ferries. Its next-generation vehicle, the Monarch, is a 100-person capacity seaglider that operates within a wingspan of the water's surface. REGENT says the vehicle couples the speed of an airplane with the operating cost of a boat, will meet modern aircraft and watercraft safety standards, and will use existing dock infrastructure. The company states routes up to 180 miles are achievable with current battery technology and up to 500 miles with next-generation batteries. REGENT describes itself as venture-backed, staffed by aerospace and maritime engineers, and plans to bring seagliders to market within five years; the Monarch is slated for entry into commercial service by 2028. Regent develops an all-electric seaglider that uses wing-in-ground-effect and hydrofoil technology to travel a few meters above the water and reach top speeds of 180 mph. The vehicle is designed to motor out on a hydrofoil, take off at low speed using the water as a runway, then fly over waves while carrying passengers (the noted vehicle seats 12). Regent aims to certify the seaglider under maritime authorities and says that approach will allow it to fly first passengers within five years. The company is building a 1/4-scale prototype that it expects to have ready this year and plans to build and test prototypes on the water in Tampa, Florida later this year. Regent currently has about 20 full-time employees and additional contract staff. To date the company has secured $465M in provisional orders from airlines and ferry companies. Regent develops an electric "seaglider," a regional ground-effect aircraft that operates a few meters above the water to combine airplane speed with boat-like docking capability. The company name stands for "regional electric ground effect naval transport." Regent says staying within a wingspan of the water lets the aircraft fly twice as far as a standard electric aircraft; with current battery technology it can service routes up to 180 miles and the company aims for 500 miles with next-generation batteries. Co-founders Billy Thalheimer and Michael Klinker plan passenger routes including Boston–New York, Los Angeles–San Francisco and inter-island service in Hawaii. The company plans to expand its team (it is hiring for seven full-time positions) and to continue testing and modifying its aircraft technology. Pending maritime-authority authorization, Regent expects to fly its first passengers by 2025 and recently completed a $9M seed round to support development.

Led · Series A · Jul 2021

Heart Aerospace develops the ES-30, a regional hybrid-electric airplane with a standard 30-passenger configuration powered by electric motors and battery-derived energy. The ES-30 offers a fully electric zero-emissions range of 200 km, an extended 400 km range with 30 passengers, and flexibility to fly up to 800 km with 25 passengers (including typical airline reserves). The company plans to use new funding to advance type certification of the ES-30 and further build its business, and expects to unveil a full-scale aircraft demonstrator in the coming year. Heart positions the ES-30 as a way to decarbonize and democratize air travel and to reopen regional routes with superior operating economics. The company is led by CEO Anders Forslund and is based in Gothenburg, Sweden. Heart has firm orders for 250 ES-30s, options and purchase rights for an additional 120 planes, and letters of intent for a further 191 aircraft. Heart Aerospace designs the ES-30, a 30-passenger regional electric airplane powered primarily by batteries with a reserve-hybrid configuration using two SAF-fueled turbogenerators. The ES-30 offers a fully electric range of 200 km, an extended range of 400 km with 30 passengers, and flexibility to fly up to 800 km with 25 passengers. The cabin is three-abreast with a flat floor, galley, lavatory, overhead bins, and a large external baggage/cargo compartment to support airline network flexibility. The design accommodates future battery-technology improvements to increase electric range and operating efficiency. Heart has reconfirmed previous orders from United Airlines and Mesa Air Group for 200 aircraft (with an option for an additional 100) updated to the ES-30, and holds letters of intent totaling 96 ES-30s, including commitments from multiple regional carriers and a Rockton LOI for up to 40 planes. The ES-30 is expected to enter service in 2028, and Heart’s main offices and final assembly facility will be at Säve Airport in Gothenburg, Sweden. Heart Aerospace is developing the ES-19, a 19-seat regional airplane powered by batteries and electric motors with an expected range of up to 250 miles. The company completed a full-scale prototype of its electric propulsion system but still needs to assemble and test a full-aircraft prototype and obtain certification in the U.S. and Europe. Heart plans first commercial deliveries in 2026 and is building a large test facility while working with roughly 50 suppliers to validate avionics, flight-control, de-icing and other systems. The company says the ES-19’s electric motor is about 20 times less expensive than an equivalent turboprop and that maintenance costs will be dramatically lower. Heart was spun out of a Chalmers University research project in 2018 and joined Y Combinator’s winter 2019 cohort after a $2.2M seed round. The startup has grown to around fifty employees and expects some final assembly to occur in North America to fulfill regional orders.