Lightspeed Broadband will bring full fibre gigabit broadband to at least eight Lincolnshire towns after promises of private investment of up to £300 million.
The internet service provider aims to bring its broadband to thousands of homes and businesses in market towns across the east of England over the next few years.
The infrastructure build will start immediately in towns in South Lincolnshire and continue to roll-out in surrounding areas. Lightspeed will reuse existing ducts and poles wherever possible.
Towns included in the initial list are Boston, Bourne, Holbeach, Market Deeping, Skegness, Sleaford, Spalding, Stamford, as well as Kings Lynn in Norfolk.
Backed by an international investment consortium, Lightspeed Broadband has secured an initial £55 million investment to reach 100,000 homes by end of 2022.
With the opportunity to raise £300 million, Lightspeed’s ambition is to reach 1 million by 2025.
Steve Haines, Chief Executive Officer at Lightspeed Broadband, said: “Collaborating with communities and local authorities we plan to start building immediately in market towns in South Lincolnshire, bringing thousands of homes and businesses access to essential full fibre, ultra-reliable gigabit broadband they deserve, and then expanding to meet the regional customer needs. We are really excited about the future.”
Matt Warman, MP for Boston and Skegness and Minister for Digital Infrastructure, added: “It is our national mission to level up the country with next-generation broadband and build back better from the pandemic.
“While we’re investing a record £5 billion to ensure really hard to reach areas get connected, we want big ideas and investment from industry to build a truly 21st century Britain.
“So it’s fantastic to see Lightspeed’s hard work and dedication mean thousands of homes and businesses in Lincolnshire will soon be benefitting from gigabit speeds, with new local jobs created in the process.”