REGENT and MONTE Announce $300 Million Seaglider

North Kingstown, RI, May 06, 2024 (GLOBE NEWSWIRE) --

REGENT and MONTE announce a $300 million deal that will provide financing solutions for seagliders.
REGENT, which makes all-electric seagliders, is the first OEM partner for MONTE Maritime, a sustainable maritime financing company for decarbonized vessels.
MONTE will offer REGENT’s customers operating and finance leases for seagliders, along with infrastructure financing to facilitate seaglider operations.
Learn more about the REGENT seagliders here and MONTE Maritime here.

REGENT, the manufacturer of all-electric seagliders for sustainable maritime mobility, and MONTE, a maritime and aviation lessor, announced a new strategic partnership at CoMotion Miami today to increase the accessibility of sustainable maritime travel.

Under the agreement, MONTE will purchase up to $300 million of REGENT’s new high-speed, zero-emissions coastal vessels and provide leasing and financing options of the 12-passenger Viceroy and 100-passenger Monarch seagliders to customers.

REGENT represents the first original equipment manufacturer (OEM) of MONTE Maritime, a sustainable maritime lessor focused on financing decarbonized vessels. The agreement also signifies a significant commitment in the growing industry for leasing and financing electric vessels, offering a model for future collaborations in this space.

“With over 600 seagliders sold and our order book continuing to grow, more of our customers are asking for access to affordable operational lease and finance lease facilities,” said Adam Triolo, VP, Commercial Business Development, REGENT. “Partnering with MONTE allows us to offer our clients decades of finance experience to provide comprehensive financing solutions. We look forward to working with MONTE to advance our shared vision of decarbonizing maritime travel.”

Complete solution for operators

MONTE also plans to finance and lease the required infrastructure needed for operating seagliders, including charging networks, battery storage, and any required port infrastructure upgrades.

“We will provide a full turn-key solution, through vessel and infrastructure financing, for operators looking for zero-emissions travel,” said Timothy Eyre, Chief Operating Officer, MONTE. “Working together to offer an easy-to-operate, full-package electric transport solution will help to accelerate the much-needed decarbonization of the regional maritime industry.”

Advancing sustainable travel

The maritime sector is responsible for 3% of the world’s CO2 emissions. Adopting zero-emissions vessels in coastal transportation and overcoming hurdles to operation will be critical to the global effort to reach net-zero emissions by 2050. The REGENT-MONTE partnership is a promising step forward to achieving these goals and democratizing access to high-speed sustainable coastal travel.

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. To learn more, visit www.regentcraft.com.

About MONTE

MONTE is a global asset manager led by a management team that has arranged over $25 billion of transportation assets over the last 30 years. MONTE was founded with the sole ambition of financing sustainable regional transportation. MONTE aims to facilitate this transition by providing financing and leasing solutions for zero and low emission regional aircraft and vessels and the associated infrastructure required to operate these assets. To learn more, visit www.montecleantech.com.

Notes for editors