Hyperoptic secures £150m from UK Infrastructure Bank

Tue, 9/07/2024 - 09:47

The UK Infrastructure Bank (UKIB) has committed £150m to accelerate Hyperoptic’s full fibre rollout and increase its committed debt facility to over £1.1bn

The altnet has now raised an additional £255m of debt facilities this year from new and existing lenders.

It currently passes more than 1.73 million homes and connects 340,000 customers and will now place particular emphasis on connecting more people to the network.

Hyperoptic's plans also include a continued focus on connecting social housing premises.

Dana Tobak CBE, CEO and Co-Founder at Hyperoptic, said: “We’re acutely aware of the government’s target to achieve 99% gigabit-capable broadband coverage by 2030 and, as an industry, we still have some way to go to achieve it.”

Ian Brown, Head of Banking & Investments at UKIB, said: “Our investment in Hyperoptic will ensure that the scale and pace of the full fibre rollout is sustained, specifically in those areas where it’s needed the most, opening up opportunity for numerous communities across the UK.”