NEOM, through its strategic arm NEOM Investment Fund, announced the completion of the investment process in the company "Regent REGENT" specialized in the manufacture of electric Seaplanes, based in the USA.
This step, which places NEOM as the largest investor within the first phase of the company's development, is part of a multi-year partnership between NEOM and regent, to enhance NEOM's capabilities in the water and sustainable mobility sector, and enable it to provide advanced services for passenger seaplane transportation in the region, in addition to driving innovation and accelerating technical progress at Regent.
Within the framework of this partnership, Regent company is committed to establishing a research, development and Training Center in the Middle East, with the aim of accelerating innovation in the field of electric Seaplanes, developing its infrastructure and operational processes, where NEOM employees, young Saudis who have recently graduated in engineering and technical specialties, will have the opportunity to work with Regent company, starting in 2024, in order to expand their expertise and learn more about its innovative technologies.the company will also conduct pilot tests in NEOM, to raise its readiness level in preparation for the start of its services and operations by the middle of the decade.
Majid Mufti, CEO of NEOM Investment Fund, explained that this investment embodies NEOM's ambitious plans to be a living laboratory for future technologies and accelerate human progress, including building the world's first integrated and sustainable participatory transport system.
Mufti said: "We are interested in this investment partnership with Regent, which came as a result of our close work with the transport sector in Neom, and exploring the great opportunities that will contribute to achieving NEOM's goals, and in line with the kingdom's Vision 2030, as these innovative electric seaplanes will provide new solutions to move through the coasts of NEOM, whether for passengers or for shipping materials and goods, and will accelerate our progress towards creating an integrated and carbon-free system.
For his part, Terry Wong, executive director of urban mobility at NEOM, said:"seaplanes are one of the innovative means of transportation within the NEOM integrated and multimodal system for safe and sustainable mobility, which will connect the main destinations along 468 km of coasts and Islands, hence the importance of this investment in supporting the development of carbon-free technologies and embracing the latest innovations, as well as enhancing our ambitious efforts in training and localization of technologies and the growth of advanced industries within the kingdom.
For his part, the co-founder and CEO of Regent Billy Thalheimer said that this partnership will allow close cooperation with Neom to find solutions to the details of operational processes in the mobility sector, which enhances NEOM's ambitions to build a zero-carbon society based on revolutionary and innovative urban design, in line with Regent's goals to develop sustainable transport solutions through the use of seaplanes.
The seaplanes are characterized by combining the speed of air navigation, ease and convenience of sailing in boats, they float at the pier, sail over the waves, and then start flying over the water at speeds up to 180 miles per hour (289 kilometers per hour), where the most important seaplane of the Regent, which bears the name "Viceroy Viceroy", accommodates 12 passengers, providing comfort and an exceptional travel experience for passengers.