NEOM Invests in US-based Electric Sea Glider
In a groundbreaking venture, NEOM, the smart and sustainable regional development initiative in northwest Saudi Arabia, has invested in the US-based electric sea glider manufacturer REGENT, as part of its Series A round through the NEOM Investment Fund (NIF). This investment crowns NEOM as the largest single contributor in this round, propelling REGENT to expedite the development of its electric sea gliders, notably the 12-passenger model named Viceroy.
The investment signifies a robust multi-year partnership aimed at reshaping the future of water mobility in the region. This collaboration is a substantial stride towards NEOM’s ambitious aspiration of establishing the world’s first truly sustainable, integrated mobility system. The partnership also encapsulates the establishment of a regional Research and Development (R&D) and training hub by REGENT, which will bolster NEOM’s endeavors to spearhead and localize electric sea glider technology.
Majid Mufti, CEO of NIF, expressed enthusiasm for the investment in REGENT, emphasizing NEOM’s dedication to accelerating human progress through innovative technology. This investment aligns with Saudi Arabia’s Vision 2030, showcasing the potential of electric sea gliders in advancing towards zero-carbon operations.
Terry Wong, Executive Director Land Mobility, NEOM, echoed these sentiments, articulating the innovative role sea gliders will play in enhancing coastal transportation, both for passengers and freight over the 468-kilometer coastline of NEOM. Moreover, these sea gliders, blending the velocity of aircraft with the convenience of boats, embody a fresh approach to transportation, reflecting a belief in zero-carbon technologies and fostering the growth of new industries and skills within the Kingdom.
Additionally, the partnership will unfold a myriad of opportunities for young Saudi engineering and tech graduates at NEOM, offering work placements at REGENT from 2024 onwards. This initiative is a part of a larger scheme to ready the operational rollout of sea gliders by the mid-part of the decade, marking a significant milestone in the journey towards sustainable and innovative mobility solutions in the region.
In essence, the alliance between NEOM and REGENT is a testament to the proactive steps being taken towards fostering sustainable transportation solutions. The electric sea glider, with its unique blend of speed and convenience, stands as a beacon of innovative transportation technology that aligns with NEOM’s broader vision of creating a carbon-free community through revolutionary design. This investment not only propels the development of electric sea gliders but also underscores the broader narrative of collaborative innovation aimed at fostering sustainable, shared, and seamlessly integrated mobility systems.
Related Topics
NEOM, DSV Forge $10bn Logistics Joint Venture to Bolster Aspiring Projects
NEOM Reveals Leyja, Latest Sustainable Tourism Spot
New W Hotel to Be Launched in NEOM’s Snow Resort
