Netomnia has secured an additional £25 million loan from the National Wealth Fund (NWF).
A community-run broadband scheme in rural Wales has extended into neighbouring communities through £525,000 funding from the Welsh Government.
The community interest company, Michaelston y Fedw Internet (MyFi), began in 2017 and used the Welsh Government’s voucher scheme to connect an initial 200 homes and businesses.
In 2020 MyFi sought further funding to extend the network to other local premises and to safeguard the investment they had already made and applied to the £22m Local Broadband Fund, aimed at local authorities and social enterprises to help them deliver local broadband roll-out plans.
The £525,000 has enabled MyFi to house their equipment in a secure data centre and lay point to point fibre direct from the data centre to Michaelston y Fedw. A total of 380 local homes and businesses are now connected to the network.
Economy Minister, Vaughan Gething said: “Our Local Broadband Fund and various other schemes bring better connectivity to some of the hardest to reach parts of Wales. Good quality digital connectivity underpins everything we do digitally and is the foundation to achieving our ambitious digital strategy for Wales.”