Ogi has secured a £45m financing package from Cardiff Capital Region (CCR), alongside ongoing investment from its principal shareholder Infracapital, to support the next stages in its growth.
Fri, 25/10/2024 - 10:28
Netomnia has secured an additional £25 million loan from the National Wealth Fund (NWF).
The investment bolsters a £75 million debt commitment made in March 2023 bringing the total NWF backing to £100 million.
The loan will support the continued expansion of Netomnia’s broadband network, investing in boosting services to rural areas.
To date, the funding has helped connect more than 100,000 premises to the Netomnia network, with around 10,000 customers now benefitting from high-speed services across the UK, particularly in digitally underserved regions.
This is expected to more than double as the network continues to grow.
Jeremy Chelot, CEO at Netomnia and Group, commented: "This additional £25 million investment from NWF will significantly accelerate our ability to deliver fast broadband to more UK homes and businesses, particularly in underserved communities.”
Stuart Nivison, National Wealth Fund Head of Portfolio Management, said: “This investment will directly support improvements in areas that would otherwise miss out on the opportunities fast, reliable broadband affords.”
