Cornish-based ISP Wildanet has secured a £35 million investment from the UK Infrastructure Bank (UKIB). This funding aims to expand Wildanet’s fibre-to-the-premise (FTTP) network, delivering connectivity to 20,000 more homes and businesses.
Helen Wylde-Archibald, CEO of Wildanet, stated, “Today’s announcement supports and accelerates our far-reaching roll out plans for Cornwall and unlocks growth in our own company as we continue our mission to transform connectivity and opportunities in Cornwall, at the same time as creating a dynamic, profitable and sustainable business.”
Earlier this year, Wildanet was awarded a £41 million Project Gigabit contract to connect over 16,800 homes and businesses across East Cornwall, West Cornwall, and the Isles of Scilly. In 2023, the company secured contracts worth £36 million to connect up to 19,250 homes and businesses in South West and Mid Cornwall.
For UKIB, this investment aligns with their goal of supporting Wildanet’s Project Gigabit contracts. Ian Brown, UKIB’s Head of Banking and Investment, explained, “The nature of Cornwall’s location and its geography makes it one of the most difficult to reach places for internet providers and as a result has lower speeds than the UK average. Our financing for Wildanet’s rollout will support communities and grow economies that would otherwise miss out on the benefits associated with improved connectivity.”
This investment helps address Cornwall’s unique challenges. The region’s remote and complex geography often results in lower-than-average internet speeds. This funding will expedite the crucial deployment of high-speed internet infrastructure. Better connectivity promises significant socio-economic benefits, especially for underserved communities.
Wildanet’s success also demonstrates the value of creating robust partnerships with national and local governments, institutional investors, and banks. This collaborative approach has been instrumental in drawing new investments into Cornwall. The region is set to benefit from a more modern digital economy, driving growth and opportunities for local businesses.
