Lite Access awarded contract from CityFibre valued at approximately CAD$20 million for fibre rollout to over 28,000 homes in Lowestoft, England
https://www.otcmarkets.com/stock/LTCCF/news/story?e&id=1459297
VANCOUVER, Oct. 23, 2019 /CNW/ - LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSXV: LTE) (OTC PINK: LTCCF), a world leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of deployment and specialist products which transform the cost of fibre optic network deployment for telecommunications operators, is pleased to announce that CityFibre, the UK's leading alternative provider of wholesale full fibre infrastructure has awarded the Company a contract for fibre-to-the premises (FTTP) installation to over 28,000 homes in Lowestoft, England. The contract is valued at approximately CAD$20 million over 2 years.
CityFibre is the UK's third national digital infrastructure platform and already has existing networks in more than 50 towns and cities. As part of the UK government's ambition for national full fibre coverage by 2025, CityFibre is investing £2.5 billion in its Gigabit City investment programme which aims to reach more than five million homes, over 20% of the UK market, by the end of 2025. Lowestoft is one of 14 Gigabit City projects recently announced as part of a second phase of rollouts, extending CityFibre's reach to over two million homes across 26 towns and cities. CityFibre has commenced detailed network design and Lite Access has been selected as its network construction partner.
Charles Kitchin, City Manager at CityFibre said: "We are accelerating into our build programme, offering a real, sustainable and compelling alternative for the construction supply chain in telecoms. Finding the right construction partners to rollout our full fibre network is one of the key elements of making a success of our Gigabit City programme."
"In Lite Access we believe we have found a partner that has the right blend of experience and expertise to bring most residents, businesses and public services in the Lowestoft within reach of gigabit-capable broadband services."
Carlo Shimoon, President & CEO of Lite Access, stated, "We are extremely pleased to have secured this substantial contract with CityFibre. We are absolutely thrilled that CityFibre has chosen us to be a provider on this very important fibre buildout to transform the UK's digital infrastructure. We look forward to further demonstrating our technology and construction services capabilities on this project and, if we are successful in meeting KPIs, we expect this to be the first of many more major fibre infrastructure builds across towns and cities throughout the UK as our partnership progresses." Mr. Shimoon concluded, "Importantly, among the main reasons for delayed rollouts in the UK and one of the biggest challenges facing the country's digital transformation being lack of contractor capacity and slow deployment by contractors, Lite Access has found itself in the right place, at the right time, with the right solutions."
About CityFibre
CityFibre is the UK's leading alternative provider of wholesale full fibre infrastructure. With existing networks in more than 50 towns and cities, CityFibre provides wholesale connectivity to business and consumer service providers, local authorities and mobile operators.
Underpinned by a £2.5bn investment programme, CityFibre has network rollouts underway targeting at least 20% of the UK market by 2025. This will deliver a new generation of Gigabit-capable full fibre infrastructure to five million homes and businesses. A growing number of Gigabit City projects have been announced for full-city rollouts and CityFibre continues to prime its existing network assets for expansion.
CityFibre is based in London and is jointly controlled by Antin Infrastructure Partners and West Street Infrastructure Partners.
About Lite Access
Lite Access Technologies Inc. is a world leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of deployment and specialist products which transform the cost the network deployment for telecommunications operators.
As part of its suite of services Lite Access provides clients with integrated solutions or select components for the design and implementation of fibre optic networks. Lite Access' products have been deployed in many high-profile communication networks including Olympic facilities, military and government, numerous communities throughout the United Kingdom, the USA and Canada as well as global telecommunications companies that have adopted Lite Access as the "solution of choice" for the least invasive, most cost effective and future-proof fibre optic connectivity available.
Lite Access' installation technology and proprietary products extend a network provider's ability to deliver true broadband connectivity directly to end-users, such as homes, businesses, government and educational institutions, and emergency response facilities. Lite Access remains flexible and innovative in its commitment to provide global clients and partners with the most cost effective and proven fibre connectivity solutions available.
Issued on behalf of CityFibre by Weber Shandwick. For more information or images, contact: Dyan Owen at dowen@webershandwick.com or 07738 086 818.
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