Rural Somerset gets access to ultrafast Internet connectivity
Certain parts of Britain’s countryside that did not benefit when fast Internet connectivity was rolled out by BT Openreach will now be able to enjoy ultrafast Internet browsing. This is because TrueSpeed Communications has received the necessary funding to expand its fibre optics in Chew Valley, North Somerset.
Five small towns in this region have already been connected to ultrafast Internet thanks to the full fibre optics network installed by TrueSpeed. The speed offered by the network is five times faster than the speed that the towns were getting through copper wire.
TrueSpeed Communications said that nearly half of the residents and businesses in these five towns have signed up to get access to fast Internet connectivity. As a result, Aviva Investors, an infrastructure fund based in London, has provided the company with funding of £75 million to expand its services across other rural parts of Somerset.
Evan Wienburg, CEO of TrueSpeed Communications, stated that the company is working hard to install its fibre optics in rural Somerset quickly. With the funding that it has received, it will be able to give stiff competition to BT Openreach, which is the leading Internet provider in the country.
Until now, it was believed that rural and marginally populated regions in the UK were a challenge to Internet service providers, as it was not cost-effective to install the necessary infrastructure. In fact, the UK Government had sponsored the installation of fibre optics in Yorkshire, but after spending £150 million, the programme was shut down in 2013.
Experts believe that with businesses and consumers demanding high-speed Internet connectivity, investors are keen to invest in projects that offer this service because they can be assured of returns.
Philip Carse, an analyst at Megabyte (CORR), said that fibre optics is the preferred investment vehicle in the country, especially since it does not suffer major faults and problems like copper wires do. Hence, investors are interested in these projects, as they can profit for years to come.