• Regent is developing its passenger craft, Viceroy, which will be able to travel at speeds of up to 290kph, cutting travel times. All photos: Regent
    Regent is developing its passenger craft, Viceroy, which will be able to travel at speeds of up to 290kph, cutting travel times. All photos: Regent
  • Regent demonstrated its float, foil and fly technology in testing on a quarter-scale model
    Regent demonstrated its float, foil and fly technology in testing on a quarter-scale model
  • The seaglider is designed with an intermediary position between boat and glider, popping up on a hydrofoil, helping it to navigate busier waterways
    The seaglider is designed with an intermediary position between boat and glider, popping up on a hydrofoil, helping it to navigate busier waterways
  • This is how the interior of the Regent Viceroy will look
    This is how the interior of the Regent Viceroy will look
  • The seating is comfortable and the windows offer great views of the journey
    The seating is comfortable and the windows offer great views of the journey
  • Billy Thalheimer, Regent chief executive and co-founder, and Mike Klinker, chief technology officer and co-founder
    Billy Thalheimer, Regent chief executive and co-founder, and Mike Klinker, chief technology officer and co-founder
  • The 100-passenger Monarch is expected to transform regional transport for coastal areas
    The 100-passenger Monarch is expected to transform regional transport for coastal areas
  • An artist's impression of a Regent electric seaglider along the shoreline of Neom, Saudi Arabia
    An artist's impression of a Regent electric seaglider along the shoreline of Neom, Saudi Arabia

Seagliders that will travel from Abu Dhabi to Dubai in 25 minutes to be built in UAE


Neil Halligan
  • English
  • Arabic

Seagliders that travel at high speeds over water will be built in the UAE following the signing of an agreement between the US maritime transport company Regent and Abu Dhabi Investment Office on Thursday.

Boston start-up Regent has also signed an agreement with Abu Dhabi's Department of Transport to integrate its electric-powered seaglider into the existing UAE transportation network, with a focus on high-impact routes, such as offshore services to Delma Island and Sir Bani Yas Island.

Regent is in the development stages of its passenger craft, Viceroy, which uses wing-in-ground effect to travel at speeds of up to 290kph within a wingspan of the water's surface, cutting travel times between coastal cities by more than half.

The company, which has demonstrated its float, foil and fly technology in testing on a quarter-scale model, is now building a full-scale 20-metre wingspan model capable of carrying 12 passengers and two crew to test its use before going into full production next year at its base in Rhode Island.

You're talking 50 per cent reduction in operating costs, which ostensibly all gets passed on to the customer as savings by going to seagliders
Billy Thalheimer,
Regent

Regent has had significant support from the industry and investors in raising its $60 million Series A Funding, including Abu Dhabi's Strategic Development Funds and Neom Investment Fund, which made the single largest investment in the round.

There has also been backing from Japan Airlines, Hawaiian Airlines, Lockheed Martin and Shark Tank star and billionaire Mark Cuban, with total investment now standing at $90 million.

Co-founder and chief executive Billy Thalheimer said Regent also has a backorder of more than $9 billion from airline and ferry operators for both the Viceroy craft and the larger 100-passenger Monarch, which he expects will transform regional transport for coastal areas.

Regent has manufacturing and test facilities in Rhode Island and is "looking at other sites within the US" to develop its building capacity, Mr Thalheimer told The National.

Regent's flagship seaglider vehicle aims to safely transport commercial passengers by 2025. Photo: Regent
Regent's flagship seaglider vehicle aims to safely transport commercial passengers by 2025. Photo: Regent

To help meet orders in the Middle East, Europe and Indo-Pacific regions, Regent will "localise sea glider manufacturing in Abu Dhabi", he said.

"We’re working right now with Adio on the plan. Our intention is to establish manufacturing by the end of the decade," he said.

"The next step is to pull in all the relevant players, do site identification, manufacturing readiness and figure out what the whole plan looks like as to when can we start and what manufacturing will entail in Abu Dhabi."

Regent will be part of the Smart and Autonomous Vehicles Industry (Savi) cluster, located in Masdar City, which aims to develop smart and self-driving vehicles for air, land and sea use.

Established as a multi-modal hub in October, Savi is expected to contribute between Dh90 billion and Dh120 billion ($24.5 billion to $32.7 billion) to the UAE's economy and generate up to 50,000 jobs.

Badr Al Olama, the director general of Adio, said Regent will "shape the future of coastal transportation".

"With immense speed and efficiency, I’m confident Abu Dhabi will see the global deployment of electric seagliders and these will dramatically change how goods and people move between the world’s coastal areas going forward," Mr Al Olama said in a news release on Thursday.

Production capacity will depend on demand, but Regent already has firm orders from an unnamed Abu Dhabi-based commercial operator and another in Egypt.

Final details on what will be built in Abu Dhabi are still being thrashed out, he said, but the plan is to have full production facilities in the emirate.

"What we're manufacturing is still part of the discussion," Mr Thalheimer said.

"The intention is to manufacture something but the goal would be full seagliders, and the next step is really figuring out what it actually looks like, putting the nuts and bolts of the details of the deal together."

Fly like a bird

The 100-passenger Monarch is expected to transform regional transport for coastal areas. Photo: Regent
The 100-passenger Monarch is expected to transform regional transport for coastal areas. Photo: Regent

Wing-in-ground effect technology has been around for more than 60 years and is based on using aerodynamic lift plus air pressure generated by flying close to the water surface – the same principle that allows gulls to glide low over the water.

Regent’s seaglider is designed with an intermediary position between boat and glider, popping up on a hydrofoil, allowing it to navigate busier waterways and inclement weather.

Once it has motored out of a harbour on a hydrofoil, the seaglider takes off at a low speed using the water as a runway, then flies over the waves at a top speed of 290kph.

It allows for quick access around coastal waters, particularly from islands to mainland, and is capable of serving routes of up to 300km with existing battery technology and 800km with next-gen batteries.

Abu Dhabi's Department of Transport, in an agreement announced at the DriftX event on Thursday, will integrate the use of seagliders in the emirate, starting with Delma Island, where 10,000 residents mainly use a once-daily flight to access services on the mainland, and Sir Bani Yas Island, home to a protected wildlife reserve and the Desert Islands Resort & Spa by Anantara.

"Currently, it’s [Delma] serviced by Q400 turbo props with one flight a day," Mr Thalheimer said.

"You can imagine how inconvenient it is to have to take an aircraft which only goes once a day to leave your home to access economic opportunities, education, medical care. Seagliders increase the flexibility and access to the mainland for those on Delma Island."

Smart plans

Abu Dhabi has been working on providing residents with smarter, more efficient modes of transport.

In February, Abu Dhabi and Shenzhen signed a twin-city agreement to share knowledge and collaborate on smart city projects across several areas including infrastructure, city planning, green mobility, transport, advanced technology, autonomous solutions, sustainability and urban development.

Abu Dhabi is also trialling driverless taxis in the emirate, while flying taxis are expected to hit Abu Dhabi and Dubai skies next year, cutting travel times significantly between the two emirates.

Mr Thalheimer said the seagliders will also help with inter-emirate connectivity and offer commuters an option to avoid busy motorways between Abu Dhabi and Ras Al Khaimah.

"Right now, if you look at Abu Dhabi to Ras Al Khaimah, you're talking about a two and a half hour drive, at best. But [with seagliders] you will be able to do day trips and can do that trip in under an hour.

"It’s sort of like a Gulf Metro that seagliders would create here, which the DoT can operate."

The trip between Abu Dhabi and Dubai is one of the busiest road journeys in the UAE. Offering high-speed connections on water between the two cities would cut travel times by more than half.

"Seaglider would be about equal on that route. It would be a little faster than a car because you’re moving faster but obviously a car goes door to door but the seaglider has to go to the dock first.

"It would be about 25 minutes in terms of the voyage itself. So we can cut the travel time in half."

In December, Regent signed an agreement with Aramex, the Middle East's largest courier firm, to develop electric seagliders for middle-mile logistics.

It is also working with Saudi Arabia's Neom project to provide connectivity around the islands along the coastline, particularly Sindalah.

"Neom is looking for better connectivity – faster, cheaper, greener, more comfortable connectivity throughout the islands of the Red Sea," he said.

Of particular interest for airlines and ferry operators is the Monarch, which Mr Thalheimer said will enter into service "before the end of the decade".

"All of this technology, the ground effect even the hydrodynamics of the hydrofoil scales really well with size," he said.

"Aircraft flying at altitude, the bigger they get, the heavier they get, the more energy intensive they get, the harder it is to fly large aircraft with batteries."

He said ground effect offers an efficient form of flying that gives it a distinct advantage over aircraft.

"Always being over a place to land is very efficient in terms of how much reserve fuel you need to carry and the hydrodynamic scale very well with size," he said.

"You're talking 50 per cent reduction in operating costs, which ostensibly all gets passed on to the customer as savings by going to seagliders and by going to that large Monarch variant."

Western Region Asia Cup T20 Qualifier

Sun Feb 23 – Thu Feb 27, Al Amerat, Oman

The two finalists advance to the Asia qualifier in Malaysia in August

 

Group A

Bahrain, Maldives, Oman, Qatar

Group B

UAE, Iran, Kuwait, Saudi Arabia

 

UAE group fixtures

Sunday Feb 23, 9.30am, v Iran

Monday Feb 25, 1pm, v Kuwait

Tuesday Feb 26, 9.30am, v Saudi

 

UAE squad

Ahmed Raza, Rohan Mustafa, Alishan Sharafu, Ansh Tandon, Vriitya Aravind, Junaid Siddique, Waheed Ahmed, Karthik Meiyappan, Basil Hameed, Mohammed Usman, Mohammed Ayaz, Zahoor Khan, Chirag Suri, Sultan Ahmed

Timeline

1947
Ferrari’s road-car company is formed and its first badged car, the 125 S, rolls off the assembly line

1962
250 GTO is unveiled

1969
Fiat becomes a Ferrari shareholder, acquiring 50 per cent of the company

1972
The Fiorano circuit, Ferrari’s racetrack for development and testing, opens

1976
First automatic Ferrari, the 400 Automatic, is made

1987
F40 launched

1988
Enzo Ferrari dies; Fiat expands its stake in the company to 90 per cent

2002
The Enzo model is announced

2010
Ferrari World opens in Abu Dhabi

2011
First four-wheel drive Ferrari, the FF, is unveiled

2013
LaFerrari, the first Ferrari hybrid, arrives

2014
Fiat Chrysler announces the split of Ferrari from the parent company

2015
Ferrari launches on Wall Street

2017
812 Superfast unveiled; Ferrari celebrates its 70th anniversary

Global Fungi Facts

• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

UAE currency: the story behind the money in your pockets
The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

Profile of Hala Insurance

Date Started: September 2018

Founders: Walid and Karim Dib

Based: Abu Dhabi

Employees: Nine

Amount raised: $1.2 million

Funders: Oman Technology Fund, AB Accelerator, 500 Startups, private backers

 

RESULT

Bayern Munich 3 Chelsea 2
Bayern: Rafinha (6'), Muller (12', 27')
Chelsea: Alonso (45' 3), Batshuayi (85')

UAE SQUAD FOR ASIAN JIU-JITSU CHAMPIONSHIP

Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan

Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

Sinopharm vaccine explained

The Sinopharm vaccine was created using techniques that have been around for decades. 

“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.

"What is left is a skeleton of the virus so it looks like a virus, but it is not live."

This is then injected into the body.

"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.

"You have to be exposed more than one time to what we call the antigen."

The vaccine should offer protection for at least months, but no one knows how long beyond that.

Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.

“Since it is inactivated, it will not last forever," she said.

CONFIRMED%20LINE-UP
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Jawan
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Results:

6.30pm: Mazrat Al Ruwayah (PA) | Group 2 | US$55,000 (Dirt) | 1,600 metres

Winner: AF Al Sajanjle, Tadhg O’Shea (jockey), Ernst Oertel (trainer)

7.05pm: Meydan Sprint (TB) | Group 2 | $250,000 (Turf) | 1,000m

Winner: Blue Point, William Buick, Charlie Appleby

7.40pm: Firebreak Stakes | Group 3 | $200,000 (D) | 1,600m

Winner: Muntazah, Jim Crowley, Doug Watson

8.15pm: Meydan Trophy Conditions (TB) | $100,000 (T) | 1,900m

Winner: Art Du Val, William Buick, Charlie Appleby

8.50pm: Balanchine Group 2 (TB) | $250,000 (T) | 1,800m

Winner: Poetic Charm, William Buick, Charlie Appleby

9.25pm: Handicap (TB) | $135,000 (D) | 1,200m

Winner: Lava Spin, Richard Mullen, Satish Seemar

10pm: Handicap (TB) | $175,000 (T) | 2,410m

Winner: Mountain Hunter, Christophe Soumillon, Saeed bin Suroor

Company%20profile
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Updated: April 26, 2024, 1:04 PM