Balnord Bets on REGENT Craft’s Seagliders to Strengthen Poland’s Maritime Defence and Industrial Base

• REGENT Craft secured USD 240M to accelerate Seaglider production, testing, certification, and commercialisation
• Balnord’s participation in the round positions Poland as a potential European manufacturing and servicing hub
• Baltic security requirements and civilian transport opportunities underpin REGENT Craft’s regional expansion strategy
• The company plans to establish regional operations, develop Polish suppliers, and potentially localise manufacturing

This August, Rhode Island-based maritime vessel manufacturer REGENT Craft raised USD 240M in a Series B round to move its Seaglider programme towards production, with a first crewed flight of its Viceroy prototype, certification work, and the ramp-up of manufacturing among the next major milestones. The round was co-led by maritime-focused investment firm Mare Liberum and AE Ventures, the VC platform of AE Industrial Partners, with participation of the well-known Polish fund Balnord (invested in Microamp, among others) and debt financing provided by Erebor Bank.

A Major Funding Boost as REGENT Moves Toward Production

The funding comes as REGENT seeks to advance both commercial passenger transport and defence applications for its high-speed, electric Seagliders. The company has completed a 255,000-square-foot manufacturing facility in Rhode Island, reported an expanded US Marine Corps contract for its crewed Viceroy platform, and seen growing interest in its autonomous Squire vehicle. Its commercial order book spans six continents, with customers having booked multiple years of manufacturing capacity, according to the company.

‘This investment marks a critical inflection point for REGENT as we move from development into production,’ REGENT Craft’s CEO Billy Thalheimer admits. ‘We have built significant momentum across both our defense and commercial pipelines, and this funding enables us to scale manufacturing, execute key certification milestones, and deliver Seagliders to customers. We could not have asked for stronger lead investors, combining the industry-leading maritime expertise of Mare Liberum with the unquestioned aerospace leadership of AE Ventures.’

From Prototype Testing to Commercial and Military Readiness

Before routine commercial or military service can begin, REGENT must complete the Viceroy testing programme and navigate the relevant certification processes. Adam Triolo, the company’s VP Commercial, described these as parallel technical and operational challenges rather than a matter of simply increasing factory output: ‘The main steps are completing the testing program and certification process while getting our manufacturing and operations ready to support Seaglider deliveries.’

‘We need to demonstrate that our Viceroy can operate safely and reliably in real-world conditions and work through the necessary regulatory approvals before the vessel can enter service,’ Mr Triolo continues. ‘At the same time, we’re building the manufacturing capability, team and operational processes needed to produce Seagliders at scale.’ He adds that the new facility and Series B financing help the company advance these workstreams while preparing to fulfil its order book.

Between Boats and Aircraft

REGENT’s technology combines hydrofoiling with wing-in-ground-effect operation, allowing a vessel to rise above the water on hydrofoils before travelling at aircraft-like speeds close to the surface. The company positions the design between conventional boats and aircraft: Seagliders take off and land on water, do not require runways and are intended to operate within a wingspan of the surface. Their potential military uses include contested logistics, medical evacuation, intelligence, surveillance and reconnaissance.

REGENT Craft’s VP Defense Becky Russo argued that the combination of speed and access could give the vessels an advantage over established platforms in certain missions: ‘Seaglider vessels offer a combination of speed, flexibility and access that conventional platforms can’t always provide.’

‘The ability to charge in remote locations also reduces reliance on established port infrastructure, giving operators greater flexibility in where they deploy and operate,’ Ms Russo adds. She points to autonomous platforms such as the Squire Seaglider drone as another area of potential, particularly for missions where reducing risk to personnel is a priority: ‘Seaglider vessels can provide particular value in contested logistics, medical evacuation, intelligence, surveillance, and reconnaissance, where speed, reach, and the ability to operate from distributed locations can make a real difference.’

One Technology, Two Markets, Parallel Certification Pathways

The company is pursuing defence and commercial markets in parallel, although the two require different configurations and customer arrangements.

‘Advances in vehicle design, testing, and manufacturing can benefit both programs,’ Ms Russo explains. ‘Our new manufacturing facility provides the foundation to scale production while maintaining the flexibility to meet the specific requirements of commercial operators and defense customers as both markets progress.’ REGENT is also pursuing parallel certification pathways, working with the US Coast Guard in the United States and maritime certification authority Lloyd’s Register in other markets.

Ms Russo believes that experience gained through US military programmes could be relevant to European armed forces, including countries on NATO’s eastern flank: ‘The lessons are extremely transferrable, and we’re already exploring opportunities with allied nations.’

Poland and the Baltic as a Strategic Entry Point

Europe and the Middle East are an important part of REGENT’s expansion, with partnerships in Poland, Greece, and the United Arab Emirates. In Poland, its agreement with Balnord is intended to address maritime security needs in the Baltic Sea while exploring the country’s potential as a manufacturing, integration and servicing base. Mr Triolo stresses, however, that the near-term production focus remains in Rhode Island as Viceroy moves through testing and certification.

‘Our partnership with Balnord was shaped by a clear near-term need, maritime security in the Baltic Sea, but the same qualities that make Seagliders valuable there also apply to civilian operators,’ Mr Triolo tells ITKeyMedia. ‘Poland’s coast connects ports, resort towns, and regional communities where travel by water is already familiar but existing services are slow or seasonal.’ He also identifies potential demand from offshore wind logistics as Poland develops its Baltic wind farms, as well as coastal cargo and emergency response.

‘Taken together, that makes Poland a meaningful customer market,’ Mr Triolo continues. ‘At the same time, Poland has one of the strongest boatbuilding and marine manufacturing sectors in Europe, with an established export track record in advanced boats, yachts and catamarans.’ This industrial base, together with Balnord’s focus on rebuilding European production capacity in dual-use sectors, could make the country a candidate for a wider regional role.

From Polish Shipyards to a Potential European Manufacturing Hub

Developing such a hub, however, apparently requires more than transferring assembly work from the United States. Mr Triolo cites Polish shipyards’ and composite boat and yacht builders’ capabilities in large-scale composite structures, hull fabrication, marine systems and outfitting as directly relevant to REGENT’s vessels. Further development would be required in electrical and battery system integration, high-voltage charging infrastructure at waterfront sites, and workforce training for inspection, maintenance and operations.

‘Much of this could be built through partnerships with existing Polish industry, technical universities and vocational programs rather than from scratch, and Balnord’s network across the Baltic industrial ecosystem could support these partnerships,’ Mr Triolo believes. In his view, the first activities to be localised would be those closest to customers, including final integration, commissioning, servicing and maintenance, crew training, and docking and charging infrastructure. ‘Over time, as volumes in Europe grow, that could possibly extend to assembly and the production of major composite structures and sub-assemblies in Poland.’

For now, REGENT is not committing to a timetable for establishing a Polish production base. The near-term manufacturing focus remains in Rhode Island as we move the Viceroy Seaglider through testing and certification, and any European industrial footprint will follow demand and the maturity of the program. The company’s commercial case in Central and Eastern Europe will likewise depend on individual routes and the infrastructure available to support operations.

Balnord’s Strategic Bet on Baltic Security and European Industry

For Balnord, the case for the partnership is tied to the strategic importance of the Baltic and the opportunity to reinforce European industrial capacity. ‘Poland’s prosperity increasingly flows through the north,’ Balnord’s Managing Partner Marcin Kowalik, who led the investment process on the firm’s behalf, remarks. ‘Our ports are the gateways through which Polish industrial products and food reach global markets, while critical raw materials and production inputs enter the country, keeping our economy and manufacturing base running.’

‘The Black Sea theatre has demonstrated that the maritime domain is becoming a central arena of technological competition and national security,’ Mr Kowalik continues. ‘The Baltic Sea basin is a key operating area within the North-Eastern Corridor of NATO’s eastern flank. In this environment, speed, distributed operations, resilience and the ability to protect critical infrastructure will increasingly determine strategic advantage.’

According to the investor, this investment is based on both defence and civilian applications for the technology. ‘We invested in REGENT because Seaglider technology can create a durable operational advantage in confined and contested littoral waters supporting rapid response, logistics and the protection of critical infrastructure,’ he states. ‘At the same time, it offers a compelling alternative for fast civilian transport across regions shaped by archipelagos, peninsulas and fjords throughout Northern Europe.’

Balnord’s ambition extends beyond bringing Seagliders to Polish customers. ‘At Balnord, we are placing particular emphasis on rebuilding European manufacturing capacity, especially in industrial dual-use sectors,’ Kowalik comments. ‘Poland already has a globally competitive industrial base in the production and export of advanced boats, yachts and catamarans.’ He believes that existing industrial strengths could provide the basis for a European production and servicing hub for the vessels.

A Vision of Turning Regional Operations into Industrial Capacity

The Balnord team believes this gives Poland the foundations to become a European hub for the manufacturing, integration, and servicing of next-generation Seagliders for both civilian operators and the defense industry, while the scale of that role will depend on whether demand develops enough to justify local production and a supporting supplier network.

Mr Triolo described the partnership’s envisioned success as a sequence in which operational deployment would create the case for further industrial investment: ‘All the mentioned KPIs would build on one another once operations are established in Poland. The first measure of success is simple: Seagliders in service, with regional customers operating them routinely for both civilian and security missions. Everything else follows demand for local servicing, training and infrastructure.’

According to him, success in five years could potentially include Poland serving as a hub for integrating, maintaining and supporting a growing European fleet, with a trained local workforce and a network of Polish suppliers contributing to our vessels. The underlying goal is a partnership that strengthens European industrial capacity and maritime resilience while helping REGENT scale internationally, and we believe the Baltic is an attractive region to prove this model.

Investors Back a New Chapter in Maritime Defence

The investment round brings together investors with different perspectives on maritime and defence markets. Mare Liberum’s General Partner Admiral Lorin Selby reminds that operators are continuously looking for capabilities offering greater speed, reach, and flexibility as maritime defence priorities evolve.

‘As maritime defense priorities evolve, operators need new capabilities that deliver greater speed, reach, and flexibility. REGENT is a leader in this emerging category with a strong track record of technical development and growing engagement with defense customers. By combining our expertise in maritime technology and national security with REGENT’s innovative leadership and proven ability to deliver, we are well positioned to accelerate the next phase of Seaglider technology and its adoption across the defense market,’ Mr Selby adds.

‘REGENT is addressing a critical gap in maritime defense operations, and the progress made since the establishment of REGENT Defense — including the first flight of Squire and the completion of its manufacturing facility — positions the business for its next phase of growth,’ AE Ventures’ Partner and Head Brian Schettler agrees. His firm is looking forward to supporting REGENT as it scales manufacturing and pursues further military and commercial milestones.

Beyond the United States and Poland, REGENT has partnered with Abu Dhabi’s Strategic Development Fund, wholly owned by EDGE Group, on early Seaglider operations and potential future manufacturing expansion in the UAE. Its agreement with Greece’s iGrow is intended to develop commercial opportunities across the Aegean Islands, while the Balnord partnership focuses on the Baltic and Northern Europe. Together, these arrangements give the company potential routes into markets where geography, maritime security and demand for faster coastal connections could support the technology’s adoption.