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Shipping company MOL Switch strategically invests in electric sea-glider developer REGENT

REGENT Craft, the manufacturer of all-electric seagliders for sustainable maritime mobility, has announced 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, according to the company.

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.

MOL Switch’s strategic investment in REGENT is part of growing interest in seaglider technology in Japan,” said a company press release. “H.I.S. Group, one of Japan’s largest travel agencies, JapanAirlines Innovation Fund, the venture arm of Japan Airlines (JAL), and YamatoHoldings, 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.”

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 USD9 billion from leading airline and ferry operators around the world and has raised more than USD90 million from investors including 8090 Industries, Founders Fund, Japan Airlines, and Lockheed Martin.

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