Thiel Capital, regional aviation providers Mesa Air GroupRegent, an electric seaglider start-up that builds high speed gliders for low speeds over water, is one of our investments. It can travel at 180 miles per hour.

Regent’s seagliders, which can carry 12 passengers, take off rather than from an airport runway. They motor out of harbors on a hydrofoil and are able to fly at low speeds due to the fixed-wing design. According to Billy Thalheimer, CEO of Regent, the company aims to reduce environmental impact by making trips between coast cities quick, safe and inexpensive. The startup’s acronym is Regional Electric Ground Effect Naval Transport.

Regent’s seagliders will be able fly to remote islands or coastal centers where there are no airports, or if infrastructure is damaged by natural disasters. The company has developed prototypes that can fly below a fog line and are capable of transporting equipment or patients safely on stretchers.

Jonathan Ornstein, Mesa Air Group’s CEO, told CNBC that his company will not only invest a little in Regent’s $18million venture financing round led by JAM Fund and Thiel Capital, but also plan to buy 200 fast-flying seagliders.

Mesa will be able to use them when it’s able, Ornstein stated.

Regent’s seagliders have been classified technically as Wing-in Ground Effect craft (WIGs), and are therefore regulated by U.S. Coast Guard, rather than Federal Aviation Administration. This may help Mesa Airlines deal with pilot shortages.

After the implementation of government regulations a few years ago, there is now a significant shortage in pilots. Ornstein says that industry has been crippled by the requirement of 1,500 hours. American law requires that airline pilots must have 1,500 hours. hours of flight time to work at a commercial airline, but there are exceptions for some students and military — and WIGs have a different set of requirements. 

Thalheimer said that the startup would use its capital injection to test and build prototypes on water near Tampa in Florida later in the year. The startup, which currently has around 20 full-time employees and more contract workers, will also be using the funds to hire.