German engineer Hanns von Schertel worked on hydrofoils prior to and during World War II in Germany. After the war, the Russians captured Schertel's team. As Germany was not authorized to build fast boats, Schertel went to Switzerland, where he established the Supramar company. In 1952, Supramar launched the first commercial hydrofoil, PT10 "Freccia d'Oro" (Golden Arrow), in Lake Maggiore, between Switzerland and Italy. The PT10 is of surface-piercing type, it can carry 32 passengers and travel at . In 1968, the Bahraini born banker Hussain Najadi acquired the Supramar AG and expanded its operations into Japan, Hong Kong, Singapore, the UK, Norway and the US. General Dynamics of the United States became its licensee, and the Pentagon awarded its first R&D naval research project in the field of supercavitation. Hitachi Shipbuilding of Osaka, Japan, was another licensee of Supramar, as well as many leading ship owners and shipyards in the OECD countries.