By CBSBoston.com Staff

BOSTON (CBS) — Boston-based company Regent has created what it calls the world’s first “seaglider.” The all-electric vehicle is a cross between a boat and an airplane.

It can travel up to 180 mph, never flying higher than a wingspan above the water.

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Both the creators studied at MIT.

Billionaire Mark Cuban is one of the investors behind the seaglider.

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“The efficiency of coastal transportation will be 100x greater with REGENT. There is no other way to describe it,” he said in a statement.  “The idea of having to get between 2 coastal points is always stress inducing. Regent changes all that and makes it fast and easy.”

Regent said it has almost half a billion dollars in orders from airlines and ferry companies. The seaglider should start carrying passengers by 2025.

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CBSBoston.com Staff