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The new investment brings Netomnia’s total investment from the National Wealth Fund (NWF) to £100 million
UK fibre altnet Netomnia has today announced it has secured a further £25 million loan from the NWF, which they say will help accelerate their rollout of full fibre across the country.
This new funding is in addition to the £75 million debt commitment from the NWF (then the UK Infrastructure Bank) in March last year, bringing the total NWF backing to £100 million.
According to Netomnia, this funding has already helped the company connect 100,000 additional homes, with around 10,000 signing up for services.
“This additional £25 million investment from NWF is a powerful vote of confidence in Netomnia’s vision and execution. It will significantly accelerate our ability to deliver fast, reliable broadband to more homes and businesses across the UK, particularly in underserved communities,” said Jeremy Chelot, CEO at Netomnia and Group. “We’re not just building infrastructure; we’re laying the foundation for the UK’s digital future, and Netomnia is committed to ensuring no one is left behind.”
Netomnia is currently in the process of merging with fellow altnet Brsk, with the network integration process now underway. Combined, the two altnets currently reach 1.82 million premises with their fibre-to-the-premises (FTTP) network, 190,000 of which are ISP customers.
The newly merged entity aims to increase its footprint to 3 million premises by the end of 2025, targeting 1 million customers by 2028.
For the NWF, supporting this ambitious rollout plan represents government efforts to better support crucial broadband infrastructure deployments across the country, particularly in rural areas.
“This investment will directly support improvements in areas that would otherwise miss out on the opportunities fast, reliable broadband affords, and so we’re pleased to extend our support to Netomnia as an existing client of the National Wealth Fund,” said Stuart Nivison, the National Wealth Fund’s Head of Portfolio Management.
This new investment from the NWF coincides with its significant restructuring earlier this month. Previously the UK Infrastructure Bank, the reformed NWF is now set to play a more significant role in the new Labour government’s industrial strategy. According to the government, the formation of the NWF will expand the organisation’s remit beyond purely infrastructure, as well as providing it with more funding – up to £27.8 billion – for private sector investments to support the UK’s economic development.
Is the UK’s fibre rollout moving fast enough to hit government targets? Join the industry in discussion at Connected North 2025
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