Holy shit! That's awesome and very impressive indeed.
So, is it meant to hover right above the surface and not fly at higher altitudes? And if that is the case, can some version of this be built for land too?
Mike (CTO@REGENT) here— we fly in ground effect, which is typically at altitudes less than 1/2 your wingspan. We fly, but low to help with aerodynamic efficiency and remain in the maritime domain.
These are great questions! I'll let Billy and Mike chime in, but it's meant to take advantage of WIG efficiencies (https://en.wikipedia.org/wiki/Ground-effect_vehicle) which lets the aircraft have a much longer range and a shorter certification pathway.