Gigaclear Celebrates Reaching Two Significant Milestones

Rural full fibre broadband provider Gigaclear is celebrating two major milestones this month (March), reaching 100,000 customers and a total of 500,000 homes and businesses able to connect to its network.

The figures serve to underline the significant growth Abingdon-based Gigaclear has undergone during the past three-and-a-half years, having begun 2021 with 36,000 customers and 140,000 homes and businesses able to connect.

Welcoming the news, newly appointed CEO Nathan Rundle said whilst the milestones marked the end of one chapter in Gigaclear’s growth story, a new one was already underway that would see the UK’s largest rural alternative network provider reach over one million premises in 2027.

Nathan said the company would double-down on its mission to create a unique, full fibre broadband network that would help generate economic and social value to ultra rural communities whose only other option was their existing slow copper connection.

He added: “It’s about giving people choice, something many of those living in small, often hard-to-reach rural communities currently don’t have. Our full fibre broadband fundamentally changes many of the communities we go to because it enables people to decide how they want to work and how they want to live their lives. It’s a choice many don’t have until we come along.”

Helping accelerate delivery of the company’s mission were two funding announcements last year. In June, Gigaclear secured a funding commitment of up to £420m from global investor Equitix followed, six months later, by an announcement it had entered into a new debt facility of up to £1.5bn with a consortium of banks.

Nathan said: “It’s reassuring to know that as we travel towards our target of reaching more than one million rural properties in 2027, the funding we secured last year demonstrates that investors are happy to join us on this journey. It’s going to be a very exciting period for Gigaclear.”

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