Gigaclear Secure Cash to Substantially Boost Rural Fibre Broadband Roll Out

UK ISP Gigaclear (Rutland Telecom) has successfully secured enough equity financing to “substantially accelerate” the roll-out of its ultrafast Fibre-to-the-Home (FTTH) based broadband networks into more rural communities.

The provider has already made headlines once this week after announcing that its 100Mbps+ service was now available to 400 homes in the civil parish villages of Appleton and Eaton in Oxfordshire (England). On top of that it’s already built a similar network in the Rutland community of Hambleton (not to mention its six other rural community networks using slower wireless and DSL technologies).

Matthew Hare, CEO of Gigaclear, said:

“Gigaclear has successfully proven the level of demand for high speed internet in rural and semi-rural areas and has developed a business model which enables it to offer sensible returns to investors.

It is now about rolling-out to more communities. The additional balance sheet strength we now have in place should secure Gigaclear’s position at the forefront of rural broadband development.”

So far 150 rural communities are said to be in discussions with Gigaclear, although the ISP currently only has firm plans for a further four networks in Oxfordshire communities where “substantial pre-orders have already been taken” (plus one extra community in Rutland). All are now scheduled for construction over the next few months.

The funding secured has apparently already exceeded Gigaclear’s “minimum requirement” to fund the community builds, yet the ISP intends to hold open its offer to investors on the same terms for a limited period so that it can potentially use the new funding to reach even more areas.

Precise details of where the service will go remain unconfirmed, although Gigaclear’s website is seeking interest from residents and businesses in Boars Hill, Fyfield & Tubney (already told to expect FTTH in 2013), Stanton Harcourt and Sutton, Kingston Bagpuize & Southmoor, Frilford and Frilford Heath, Otmoor (Make Islip, Noke, Woodeaton, Elsfield and Beckley) and parts of West Tytherley.