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October 16, 2020

Lightning Fibre secures funding Boost to Help Deploy FTTP across South East

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Lightning Fibre broadband, which was founded in 2018, has started to rollout a 10Gbps capable Fibre-to-the-Premises (FTTP) broadband network across the inner Eastbourne area of East Sussex and in October 2020 secured an substantial investment boost from independent infrastructure and private equity firm Foresight.

Foresight is a leading ESG and sustainable investment manager and studies have shown full fibre optic networks support lower greenhouse gas emissions and promote wider access to employment and education.

Lightning Fibre is creating local jobs and enhancing essential local infrastructure, as well as accelerating the development of a fast fibre network to support the UK’s digital ambitions, creating a sustainable legacy for future generations.

L-R: Dean Robinson, Paul Thornton, Ben Ferriman (CEO), Mark Hutchings and Robert De Gouveia.

The UK Government has committed to bringing gigabit-capable broadband to every home in the UK by the end of 2025. Currently just 14 per cent of the UK has access to full fibre broadband and it is estimated that an investment ofGBP30 billion over the next five years is required. With changing behaviours and work patterns forced on educational establishments, organisations and businesses by the pandemic restrictions, the UK has seen a huge surge in demand for fast and stable digital communications.

Helen Downie, Foresight’s Senior Investment Manager, said: “We are pleased to be able to play an active part in the development of this important digital infrastructure project that will support the competitiveness of UK plc and a robust recovery from the impacts of the Covid-19 pandemic.”

Ben Ferriman, CEO of Lightning Fibre, added:

“LightningFibre builds high quality networks and delivers a high-quality service at an affordable and competitive price.

With funding now secured, we can accelerate our build programme in Eastbourne andHastings providing multi-gigabit Full Fibre broadband to everyone we pass. We strongly believe in our regional strategy and that starts with levelling up Eastbourne and Hastings.”