Cybermoor seeking £150,000 of social investment to build more FTTH
Interested in helping some of the more rural parts of UK get access to superfast broadband? If so then it appears Cybermoor has an investment opportunity as it is seeking £150,000 of social investment by 31st July 2015.
The project is aiming to bring FTTH to some 300 premises in the South Tyne Valley area (though some outlying premises may receive wireless) and is one of the Innovation Fund projects championed by the DCMS and thus is in line for £450,000 of public money too. This project is an extension of the existing Cybermoor service in the Alston Moor which has 30 connected premises (300 passed) and some 308 wireless customers across the Pennines. The project is hoping to gain 150 to 225 customers by the extension down into South Tyne Valley.
The initial service offerings will be a 10 Mbps service at £24 per month and a 30 Mbps service at £42 per month, with the capability to offer faster speeds in the future.
The network is a partnership with Briskona (parent company is Eurona from Spain) who are the retail face of the operation. While raising the £150,000 in under 8 weeks looks a tight schedule, Eurona are underwriting this amount with the share offer covering the full relationship.
With a premises passed cost of £2,250 (total declared project cost is £675,000) the costs are more in line with previous predictions compared to the £1,000 or less than B4RN have declared. The final ratio of FTTH to wireless and the levels of take-up will be key factors for the DCMS to consider when running the final assessments and whether the model can be reproduced, plus what might be the future costs of increasing the access speeds.