Revolutionising Maritime Transport: Ocean Flyer's NZ$145M Financing Partnership for Seagliders
ocean-flyer-regent-prototype-4
In a significant development for New Zealand's transport sector, Ocean Flyer, a leader in sustainable maritime transport, has secured a NZ$145 million financing deal with global asset manager MONTE. This partnership marks a major milestone in the deployment of REGENT’s all-electric seagliders across New Zealand, reinforcing the country's commitment to innovative, eco-friendly transportation solutions.
Ocean Flyer, which aims to transform travel within New Zealand, plans to enhance regional connectivity through efficient, affordable, and zero-emission transport. The substantial investment from MONTE is part of Ocean Flyer’s historic NZ$700 million agreement with US-based manufacturer REGENT, set to bring 25 state-of-the-art seagliders to New Zealand.
“This initiative marks a significant step in Ocean Flyer’s mission to enhance prosperity and economic development in the regions, through efficient and affordable connectivity,” said Shah Aslam, CEO of Ocean Flyer.
Ocean Flyer CEO Shah Aslam (right) with MONTE COO Timothy Eyre (left)
The financing agreement with MONTE, a UK-based investor with a strong track record in transportation asset financing, highlights the confidence in Ocean Flyer's vision. Timothy Eyre, Chief Operating Officer of MONTE, expressed his enthusiasm about the collaboration, stating, “We are delighted to announce this agreement and our long-term, strategic partnership with Ocean Flyer. Ocean Flyer are pioneers in the sustainable maritime sector with a strong commitment to decarbonisation.”
New Zealand’s aerospace community has a long history of innovation, drawing inspiration from historical figures such as Richard Pearce and the Walsh Brothers. Shah Aslam views Ocean Flyer’s seagliders as the next chapter in this legacy. “New Zealand has always been air-minded and innovative,” Aslam noted. “Ocean Flyer’s seagliders are another innovative leap that will bring fast, affordable, and direct connections to coastal communities and do it with zero emissions. We are innovative and forward-looking and know the benefits the use of the blue highway brings to New Zealand communities.”
Ocean Flyer Concept
The seagliders, developed by a team of MIT graduates and ex-Boeing engineers, are zero-emission, high-speed electric wing-in-ground effect vessels. These cutting-edge vessels are expected to significantly improve the cost, speed, and reliability of domestic travel, addressing recent concerns about the expense and dependability of current transport options.
Ocean Flyer’s achievements are not limited to this financing deal. The company has strategically partnered with Northport and Northland Inc to spearhead infrastructure development for seaglider services. Additionally, collaborations with MetService and MetOcean are set to enhance Ocean Flyer’s operational capabilities by leveraging historical and current weather data to optimize performance in New Zealand waters.
This financing deal is seen as a testament to the resilience of the New Zealand market and the innovative spirit of its aerospace industry. As Ocean Flyer prepares to launch its seagliders, the entire nation stands to benefit from improved regional connectivity, economic development, and a sustainable transport network.
Ocean Flyer terminal concept
About Ocean Flyer Ocean Flyer, established to bring fully electric, fast, affordable, and sustainable maritime transport to New Zealand, has signed a historic NZ$700 million agreement with REGENT for 25 seagliders. As a portfolio company of SO Capital, Ocean Flyer is dedicated to connecting communities, tackling climate change, and building a resilient transport network.
About MONTE MONTE, a global asset manager, has arranged financing for over NZ$42 billion in transportation assets over the past 30 years. Focused on financing sustainable regional transportation, MONTE provides solutions for zero and low emission regional aircraft and vessels, along with the necessary infrastructure.
For more information, visit Ocean Flyer and MONTE.
