Highland Broadband is preparing a major expansion of its ultrafast network thanks to securing a new £50m investment that will ensure it remains on track to extend its reach to over 150 rural communities over the coming year.
Kate Forbes, Scotland’s Deputy First Minister (pictured, second left) unveiled the new capital secured by the Edinburgh and Inverness based company, which has already connected around half of all the rural premises throughout the Highlands to full fibre infrastructure.
The broadband provider has now secured a further £50m, with £40m coming from Alpha Real Capital and a further £10m from the Scottish National Investment Bank.
The new funding means that Highland Broadband has the capital as well as the capability and capacity to continue the expansion of its fibre network across rural Scotland.
Forbes said: “This is a significant success story for Scotland, and it’s great to see substantial new investment flowing into the company and the rural communities it serves, including a further £10m from the Scottish National Investment Bank.
“This takes the Bank’s total investment to £60m, which has helped Highland Broadband raise an additional £40m of private capital.
“Commercial investment in future-proofed broadband infrastructure is a key part of Scotland’s digital strategy. We are working with operators like Highland Broadband to expand full fibre coverage, while also targeting public funding where it is needed most to support communities the length and breadth of Scotland.”
Gavin Rodgers, CEO of Highland Broadband added: “This injection of £50m of new capital means we have the funding as well as the capability to continue network expansion throughout rural Scotland.
“Raising this capital ahead of a series of important projects means we can focus on operational delivery rather than sourcing further finance.”
