ANCHORAGE, Alaska, July 17, 2023 (GLOBE NEWSWIRE) -- Fastwyre Broadband, a leading fiber provider with reliable and affordable services across America, announced today that it has been awarded two U.S. Department of Agriculture grants totaling nearly $70 million to significantly upgrade the internet access in Western Alaska by connecting communities to a state-of-the-art fiber-optic network.
The expansion project is expected to benefit an estimated 3,000 people and over 75 businesses in several communities within the Nome Census Area. Fastwyre, formerly known as TelAlaska, anticipates commencing its construction efforts later this year.
Fastwyre’s fiber backbone helps to transform the economic landscape and the quality of life for underserviced communities. Affordable and future-proof, Fastwyre’s fiber network ensures residents and businesses are positioned to take advantage of digital advancements in data transmission, virtual video conferencing, e-commerce, remote learning, entertainment and telehealth.
“Fastwyre is grateful for the Federal support to fuel our continued efforts to shrink the digital divide in Alaska by improving and increasing access to the fastest internet service available through our fiber-optic network,” said Chris Eldredge, CEO of Fastwyre. “We have a long track record of partnering with communities in Alaska, and we look forward to further contributing to essential enhancements to the state’s digital communications infrastructure.”
Fastwyre remains committed to pursuing growth opportunities through grants that further the Company’s mission to provide high-quality internet to unserved and underserved communities across the United States. The USDA’s funding allotments awarded to Fastwyre are part of a recent Federal grant allocation announcement, which distributed $714 million for high-speed internet investments in 19 states.
Additionally, Fastwyre continues to move toward completion of two grant-funded projects in Alaska that provide fiber-centric solutions to the communities of Teller, Brevig Mission and Port Lions.
About Fastwyre Broadband
American Broadband Holding Company dba Fastwyre Broadband is a premier provider of broadband services delivering affordable, reliable, high-speed internet services to communities across America. The Company provides internet, phone, and video to customers in Alaska, Alabama, Louisiana, Missouri, Nebraska and Texas. Fastwyre partners in the growth and economic vitality of its communities by providing broadband and other advanced services to support residential customers and new business activity with resulting job growth.
Fastwyre Broadband is a portfolio company of Madison Dearborn Partners, LLC, a leading private equity firm based in Chicago, and Catania ABC Partners.
More information about Fastwyre Broadband can be found at www.fastwyre.com.
Media Contact:
Jon Nyatawa
jnyatawa@lukaspartners.com
