Chelot on plans to build UK's largest full fibre altnet

Here, Group CEO Jeremy Chelot discusses his ambitions to create the UK's largest full fibre altnet, the third-largest full-fibre network overall, and one of the top five ISPs. He discusses milestones hit so far, strategies for 2025, and his long-term view of the UK altnet market.

Q1) Where is the Group on its full fibre journey?

By the end of 2024, The Group (Netomnia, YouFibre and brsk) reached 2.08 million premises serviceable, adding 1.27 million premises in just one year, while 238,000 premises were connected during the same period, adding 48K in the last quarter.

Our integration with brsk has created a unique, capital-efficient retail and wholesale platform. This synergy enables us to scale rapidly and provide reliable and tailored connectivity to communities across the UK.

With a proven execution engine that delivers one million premises serviceable annually, we’re on track to achieve our next milestone of three million premises serviceable by the end of 2025.

Q2) Please summarise your aims and objectives for 2025?

Our key objectives for 2025 focus on expanding our network, driving innovation, and strengthening partnerships.

We aim to achieve three million premises serviceable and complete the integration with brsk, establishing a scaled, capital-efficient wholesale and retail platform.

With PXC’s arrival, we plan to become a true wholesale platform with PXC customers being connected in the first half of 2025. This year will also mark a significant milestone as we pioneer commercial broadband offerings powered by 50G PON technology.

Additionally, we will continue to expand partnerships with ISPs.

Q3) What are the current challenges you face?

We face the typical challenge of balancing rapid deployment with operational excellence. However, the opportunities are equally clear - our wholesale platform services position us as the go-to network provider for ISPs.

Q4) What are your long-term goals in the UK fibre sector?

Our long-term vision is to establish ourselves as the UK's largest full fibre altnet, the third-largest full-fibre network overall, and one of the top five ISPs.

We will deliver our ambition through organic growth and consolidation. We are dedicated to building the most reliable and fastest fibre networks in the UK.

Our goal is to drive meaningful growth for the Group while playing a transformative role in shaping a stronger, more connected UK fibre market.

Q5) How has the merger with brsk played out so far?

By combining resources and expertise, the partnership has already enhanced the Group’s competitiveness and provided substantial growth opportunities.

Furthermore, it has established a strong foundation for potentially facilitating future altnet consolidations.

Q6) What will a fully integrated organisation look like?

A fully integrated group will combine the strengths of its entities into a unified, capital-efficient platform that seamlessly supports both wholesale and retail operations. At the Group level:

• Netomnia will continue to serve as the network build company and wholesale platform, driving the expansion and delivery of our advanced fibre infrastructure.

• Brsk, at a later stage, will evolve into a full-service ISP, alongside YouFibre, with both ISPs leveraging Netomnia’s network to serve their customers.

Leadership will include Jeremy Chelot as Group CEO, Wil Wadsworth as Group CFO, Ian Kock as Netomnia COO, and Renier Horne as Netomnia CFO, ensuring strong governance and strategic alignment across the organisation.

 Q7: Will you be looking at more M&A activity?

We view M&A as a strategic tool to enhance our growth trajectory and strengthen our market position. While our immediate focus remains on fully integrating the recent merger, we are open to exploring future M&A opportunities that align with our long-term vision.

We aim to identify opportunities where partnerships or acquisitions can drive scalability, improve efficiencies, and unlock new growth avenues. 

Q8: Can you explain your company's wholesale strategy?

Netomnia’s wholesale strategy focuses on delivering a scalable, capital-efficient platform that enables ISP partners to offer connectivity services to their customers.

Leveraging our robust XGS-PON infrastructure, we provide a future-proof network designed to support scalability, reliability, and the growing demands of the UK fibre market. With a national footprint spanning England, Scotland, Wales, and Northern Ireland, we are committed to offering advanced, tailored fibre solutions built for tomorrow.

We will continue to collaborate with partners like PXC and Fibre Café to enhance our platform and strengthen the ISP ecosystem.

Q9: How are you set up to create a return on investment?

In October, Netomnia secured an additional £25m loan from the National Wealth Fund (NWF), bringing NWF’s total backing to £100m. This funding has been pivotal in accelerating our network expansion in digitally underserved regions. With the support of our investors (Advencap, DigitalBridge, and Soho Square) the group has raised over £1.3bn and fully funded to execute its growth strategy.

To ensure strong returns on investment, we are focused on three core areas:

• Driving Take-Up Rates: Currently achieving a take-up rate of 11.5%, up 38% YoY.

• Operational Excellence: Optimising processes and integrating systems to enhance efficiency and reduce costs, ensuring sustainable scalability.

• Market Leadership: Strengthening our position as the UK’s 2nd largest altnet, capitalising on consolidation opportunities.