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Lite Access Technologies completes fibre trial in Ireland as it ramps up activity in UK
Lite Access Technologies Inc (CVE:LTE) has successfully completed a 265-home fibre-to-the-home FTTH trial roll-out in the Republic of Ireland and is set to ramp up operations in the UK, it told investors.
The trial in the Irish town of Tullamore was ordered by engineering group Actavo on behalf of a major operator’s drive to bring ultrafast broadband connectivity into the area.
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Actavo has a global work force of over 5,000, generated revenues of €431 million in 2015 and is currently rolling out one of the largest FTTH networks in the world.
Key clients include Digicel, Virgin Media, Irish Water and SSE.
“The reaction we’ve seen for our cutting-edge and proven narrow trenching process from the UK telecom industry specifically in the last few months is nothing short of astonishing,” said Mike Plotnikoff, chief executive of Lite Access.
“As is the case for countries around the world, the Internet has become indispensable in the UK and, as such, major UK telecoms are moving rapidly with their capital intensive fibre rollouts.”
The decision to significantly scale up crews and installation capacity in the UK is a direct response to strengthening demand for Lite Access’s narrow trenching technology, it said, which is faster, cleaner and the most cost-effective installation possible.
At the end of last month, Lite Access bolstered its coffers to the tune of over $20mln via a bought deal financing.
The main use of the proceeds are to advance and support further customer deployments in the United Kingdom.
“The recent growth capital injection allows us to respond swiftly to scale up crews and our installation capacity in order to handle the demand now and in the foreseeable future.
“The Lite Access team is excited about our growth in 2017 and continued growth in 2018,” added Plotnikoff.
For the initiated, Lite Access is the world leader in air blown fibre and micro-trench solutions for fibre optic cable installation.
It cuts small micro-trenches in the road and uses compressed air to blow broadband fibre through the tubes.
Already tested and in use in the UK, Lite Access now offers a slightly wider and much deeper cut made at depths ranging between 18 and 24 inches, four to six inches wide, which supports a uniquely designed microduct capable of high-fibre-count installation.
This is an alternative to the more invasive and more costly traditional trenching approach.
Story by ProactiveInvestors
