Private investment of up to £300m in full fibre broadband for Lincolnshire

Internet service provider, Lightspeed Broadband, has announced today that it is bringing full fibre gigabit broadband to thousands of homes and businesses in market towns across the east of England, over the next few years.

Backed by an international investment consortium, Lightspeed Broadband has secured an initial £55 million investment to reach 100,000 homes by end of 2022. With the opportunity to raise £300 million, its ambition is to reach 1 million by 2025 and to become a leading provider in the market.

The company will be building the next generation of full fibre networks, connecting homes and businesses directly to gigabit broadband, much faster and more stable than internet services that are currently available in the area. Unlocking the digital potential of the region, it meets the demand for ultra-fast and reliable broadband that is essential for living and working in an ever-increasing digital world.

The infrastructure build will start immediately in towns in South Lincolnshire and continue to roll-out in surrounding areas. Towns included in the initial list are Boston, Bourne, Holbeach, King’s Lynn, Market Deeping, Skegness, Sleaford, Spalding, Stamford.

Managed by a highly experienced team, including Chief Executive Officer, Steve Haines; Chief Operating Officer, Dave Axam and Chief Customer Officer, Joanne King, who combined have more than 100 years’ experience in the telecoms industry, including with BT and TalkTalk, the company is setting up an operational base in Lincolnshire, and actively looking for premises.

With a clear deployment strategy, Lightspeed will reuse existing ducts and poles wherever possible, and work with local partners, including local councils and highways, to roll out the fibre infrastructure quickly with minimal environmental impact and disruption to residents.

Steve Haines Chief Executive Officer, Lightspeed Broadband, said:

“These are exciting times for digital connectivity, and we are delighted to be a part of it. We are making a commitment to deliver a Gigabit broadband experience to the heart of the East of England which will unlock the potential of the region and create local employment.

The need for high-speed, reliable internet, is growing faster than ever as a result of the continually increasing demand for professional home working, multi-user high quality online entertainment, high speed gaming, home schooling and affordable multi-video, face-to-face call services.

We are an experienced team of telecoms experts that have spent decades building and managing telecoms networks at BT. Collaborating with communities and local authorities we plan to start building immediately in market towns in South Lincolnshire, bringing thousands of homes and businesses access to essential full fibre, ultra-reliable gigabit broadband they deserve and then expanding to meet the regional customer needs. We are really excited about the future.”

Matt Warman MP for Boston and Skegness and Minister for Digital Infrastructure said:

"It is our national mission to level up the country with next-generation broadband and build back better from the pandemic. While we're investing a record £5 billion to ensure really hard to reach areas get connected, we want big ideas and investment from industry to build a truly 21st century Britain.

So it's fantastic to see Lightspeed’s hard work and dedication mean thousands of homes and businesses in Lincolnshire will soon be benefitting from gigabit speeds, with new local jobs created in the process.”

Lightspeed Broadband will provide full fibre broadband and Wi-Fi services to homes and businesses directly covering all their internet and Wi-Fi needs. For further information see: www.lightspeed.co.uk