Ocean Flyer’s seagliders a step closer in New Zealand with $145m deal

A $145 million finance deal is helping to secure a new mode of transport, seagliders, which promises to reduce the trip between Whangārei and Auckland to just 35 minutes.

The high-speed, zero-emissions coastal vessels are being developed to float, foil then fly 10m above the water at high speeds.

Kiwi company Ocean Flyer wants to bring the seagliders to New Zealand, with Northland’s Marsden Point possibly one of the first ports involved after the company signed memorandums of understanding with Northport and Northland Inc in 2023.

Ocean Flyer announced in 2022 a $700m contract to get 25 electric seagliders from United States-based manufacturer Regent, which includes a team of MIT graduates and ex-Boeing engineers.

Now, in what is believed to be New Zealand’s largest ever private investment in transport, Ocean Flyer has secured $145m in funding from British-based investor Monte for the first phase of seagliders, set to be offering commercial flights around the middle of the decade.

Ocean Flyer chief executive Shah Aslam said the deal is a significant step which effectively ensures seagliders will come to New Zealand.

“It will give a lot of confidence for local government, central government, and the community and people who will be our passengers,” he said.

“It’s a huge step and a windfall for the country, not just Ocean Flyer.”

Aslam is unable to say how many seagliders the $145m buys but said if they were all launched in Whangārei, it would be enough for a million passenger trips a year.

The first routes are also yet to be announced but Aslam said Northland has been the most supportive region, with backing from Northport, Northland Inc, iwi and the local community.

“We can see with the recent closure of the Brynderwyns costing up to $14m a day, this is a really big requirement,” he said.

Aslam said securing the funding from an international financier for an emerging technology is very difficult.

The 12-seat Viceroy seaglider will make the trip between Auckland and Whangarei just 35 minutes, Ocean Flyer says.

“I hope their confidence in the value of seagliders as a new and exciting mode of transport can be mirrored by local investors, private or government,” he said.

Monte aims to finance the transition of aviation and maritime industries to net zero carbon emissions and has arranged finance for more than $42 billion of transport assets over the last 30 years.

It has also made a $500m investment in Regent, to provide financing solutions for seagliders, but Ocean Flyer is the first operator it has invested in.

Aslam said Regent has met all of its milestones for developing the seagliders, including a quarter-sized prototype and unveiling a full-scale mock-up, working with the US Coastguard for regulation.

Monte chief operating officer Timothy Eyre (left) and Ocean Flyer chief executive Shah Aslam are pleased with the $145m deal which will see the first phase of seagliders operating in New Zealand.

Ocean Flyer’s New Zealand operation is set to include 15 smaller 12-seat Viceroy and 10 large 100-seat Monarch seagliders, which will be regulated and certified by Maritime New Zealand.

This latest achievement caps off a bumper 12 months for Ocean Flyer, including the MOUs with Northport and Northland Inc to spearhead the design and development of terminal infrastructure, plus agreements with MetService and MetOcean for historic and current weather data to optimise performance.

The Northern Advocate is running an exclusive Q&A with Ocean Flyer chief executive Shah Aslam. Send through any questions you would like to know to denise.piper@nzme.co.nz by midday, Monday May 20 and we will ask them for you.

Denise Piper is a news reporter for the Northern Advocate, focusing on health and business. She has more than 20 years in journalism and is passionate about covering stories that make a difference.