SiFi Networks Announces $2 Billion Plan to Put 30 Cities On Their Network
SiFi Networks uses private capital, at no cost to taxpayers, to fund its open access model.
HOUSTON, September 30, 2021 – SiFi Networks has announced a plan to commit $2 billion, sourced from private investors, to build open-access fiber networks in cities across America, the company said at an in person and virtual press conference at the Broadband Community Summit here on Tuesday.
SiFi has plans to begin developing fiber networks in 30 cities by the end of 2022 and to pass over 40,000 homes per month by early 2023.
Ben Bawtree-Jobson, CEO of SiFi Networks, said that the company is working with more than 100 cities and has plans to expand FiberCity Aid, their program which decreases the network costs for ISPs providing service to low-income residents, in an effort to close the digital divide.
The company said that its open-access model gives “communities a much-needed choice against existing cable monopolies and duopolies whose networks have fallen far behind new technologies and skyrocketing consumer demand.” Open access networks allow multiple telecoms to use the same infrastructure to provide services.
Bawtree-Jobson, alluding to existing copper and cable networks being at or near capacity, warned that, “communities need to make policy decisions pertaining to broadband in the next 24 months. Prioritizing long-term competition should be first and foremost in the minds of lawmakers so their cities and towns are no longer hamstrung by large monopolies.”
Additionally, on Wednesday SiFi Networks and East Hartford Mayor Marcia Leclerc announced that East Hartford, Connecticut, is receiving a $40 million all-fiber internet network. This will be both the first open access and first all-fiber network in the state of Connecticut, the company said.
“We’re able to partner with communities to build FiberCities on an Open Access network, using private capital, at no cost to taxpayers. It’s a win for consumers, it’s a win for business, and it’s a win for government,” said Bawtree-Jobson.
Founded in 2012, SiFi Networks’ business plan is to privately fund, build and operate citywide, open access, 100 percent fiber networks. Their networks are made available to internet service providers, providing them with the ability to lease space on SiFi’s network and enter a market quickly and efficiently. Service providers would then be expected to concentrate on customer service and support.
SiFi is currently developing or operating in more than 40 cities across the United States, covering over 1.5 million homes and businesses. SiFi has stated that ISPs of all sizes are welcome to partner with their network to provide thousands of Americans with fiber internet. The APG Group recently acquired 16.7 percent of SiFi Networks while also investing 500 million dollars for joint ventures into SiFi’s open access model.
