{"id":10938,"date":"2016-01-13T16:56:08","date_gmt":"2016-01-13T16:56:08","guid":{"rendered":"http:\/\/www.ispreview.co.uk\/?p=10938"},"modified":"2016-01-14T14:18:44","modified_gmt":"2016-01-14T14:18:44","slug":"rural-fttp-broadband-isp-gigaclear-gets-25m-euros-loan-to-expand-network","status":"publish","type":"post","link":"https:\/\/www.ispreview.co.uk\/index.php\/2016\/01\/rural-fttp-broadband-isp-gigaclear-gets-25m-euros-loan-to-expand-network.html","title":{"rendered":"Rural Broadband ISP Gigaclear Gets 25m Euro Loan to Expand Network"},"content":{"rendered":"

Ultrafast fibre optic ISP Gigaclear<\/a>, which is rolling out a 1Gbps capable Fibre-to-the-Premises (FTTP<\/a>) broadband network to rural communities across the United Kingdom, has bagged some additional investment in the form of a \u20ac25m loan.<\/p>\n

<\/p>\n

So far Gigaclear<\/a>’s network has already become available to roughly 15,000 homes and businesses in rural parts of Oxfordshire, Essex, Kent, Northamptonshire, Cambridgeshire, Leicestershire, Berkshire, Hertfordshire, Rutland and Gloucestershire in England.<\/p>\n

On top of that the ISP, which currently owns and operates 56 rural fibre networks (plus 35 under construction), has also signed a number of Government (state aid) supported Broadband Delivery UK<\/a> contracts (e.g. Gloucestershire \u2013 here<\/a>, Essex \u2013 here<\/a> and Berkshire \u2013 here<\/a> etc.) and they hope to reach approximately 40,000 premises<\/strong> by the end of 2016.<\/p>\n

However beyond that they also have commercial plans to reach another 30-40K premises (around 80,000 total), which is likely to require further investment. Gigaclear<\/a> has already managed to attract \u00a348.6 million<\/strong> in investment and now they’re about to get another \u20ac25m (\u00a318m) via a loan.<\/p>\n

The FT<\/a> states that most of this loan will be coming from the European Investment Bank<\/strong> (EIB) and indeed it’s said to be the EIB’s “first targeted support for rural communications in the UK<\/em>“, as well as also being the maximum available under their InnovFin<\/strong> (EU finance for innovators) mid-cap growth finance scheme.<\/p>\n

Matthew Hare, CEO of Gigaclear, said:<\/strong><\/p>\n

“We\u2019re transforming lives and businesses, giving people access to the fastest internet speeds to be found anywhere in the world and technologically future-proofing these rural communities for years<\/em>.”<\/p><\/blockquote>\n

One problem with the big spender approach to infrastructure development is that it will still take a long time to recoup the investment, not that this appears to worry Gigaclear or any of the other fibre optic ISPs.<\/p>\n

Investors often seem able to see the long-term potential of fibre optic connectivity, which has also attracted them to other operators like Cityfibre<\/a> and Hyperoptic<\/a>. Assuming Ofcom<\/a> doesn’t negatively upset that market too much with their Strategic Review then there’s no reason why this shouldn’t continue.<\/p>\n

At this point it’s worth reminding our readers of Gigaclear\u2019s “medium-term<\/em>” target from their 2014 AIM float: “The Company\u2019s target, assuming capital of \u00a3180 million (including the proceeds of the Placing) is deployed over the medium-term, is to make ultrafast fibre broadband available to 200,000 rural properties<\/em>.”<\/p>\n

Elsewhere the ISP is currently gearing up to trial a new 5Gbps<\/strong> (5000Mbps) broadband service (here<\/a>), not that any home users have a need for such performance, but the bragging rights are probably worth the effort.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ultrafast fibre optic ISP Gigaclear, which is rolling out a 1Gbps capable Fibre-to-the-Premises (FTTP) broadband network to rural communities across the United Kingdom, has bagged some additional investment in the form of a \u20ac25m loan.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[471,472,65,56,416],"class_list":["post-10938","post","type-post","status-publish","format-standard","hentry","category-uk_isp_news","tag-bduk","tag-business","tag-ftth","tag-fttp","tag-gigaclear"],"share_on_mastodon":{"url":"","error":""},"yoast_head":"\nRural Broadband ISP Gigaclear Gets 25m Euro Loan to Expand Network - ISPreview UK<\/title>\n<meta name=\"description\" content=\"Ultrafast fibre optic ISP Gigaclear, which is rolling out a 1Gbps capable Fibre-to-the-Premises (FTTP) broadband network to rural communities across the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ispreview.co.uk\/index.php\/2016\/01\/rural-fttp-broadband-isp-gigaclear-gets-25m-euros-loan-to-expand-network.html\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rural Broadband ISP Gigaclear Gets 25m Euro Loan to Expand Network - 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