Source - RNS
RNS Number : 6663J
Satellite Solutions Wldwide Grp PLC
30 June 2017
 

 

 

Satellite Solutions Worldwide Group plc

("SSW" or the "Company")

 

SSW launches grant backed 40 Mb offer in Cornwall

 

European Funded Broadband Venture Targets SMEs in Cornwall and Isles of Scilly

 

Satellite Solutions Worldwide Group plc (AIM: SAT), the global communications company specialising in rural and alternative last-mile satellite broadband, has agreed a new venture to deliver superfast broadband services to Small and Medium Sized Enterprises ("SMEs") in Cornwall and the Isles of Scilly.

 

The £1.2m initiative is fully funded by the European Regional Development Fund ("ERDF") and operated in conjunction with British satellite operator Avanti Communications Group plc ("Avanti"). The initial aim is to bring 1,000 SMEs online over the next three years with superfast 40 Mbps satellite broadband and SSW will be one of the certified service providers.

 

The services, which will be available immediately and delivered via Avanti's HYLAS 2 Ka-band satellite, will be the first-time SSW has offered off-the-shelf superfast 40 Mbps download and 6 Mbps upload services, which is currently the fastest satellite broadband speed in Europe.

 

Service Offering

The scheme will enable targeted businesses to be connected to superfast broadband services of 40 Mbps with no upfront hardware or installation capital costs. The scheme is being operated in conjunction with a separate £9.0 million 'Superfast Cornwall' scheme to introduce more superfast alternative broadband technologies to the region.

 

Andrew Walwyn, CEO at SSW, commented: "This is a great initiative and we are delighted to be able to provide local businesses with our superfast broadband services. Our model is focused on providing superfast broadband to customers who are suffering due to the 'digital divide'. Schemes that help fund these installations, such as this ERDF initiative, are very welcome and we look forward to working closely with them in the coming months."

 

 

For further information:

Satellite Solutions Worldwide Group PLC

www.satellitesolutionsworldwide.com

Andrew Walwyn, Chief Executive Officer

Via Walbrook PR

 

 

Numis Securities (Nomad and broker)

Oliver Hardy / Simon Willis (Corporate Advisory)

James Black / Jonathan Abbott (Corporate Broking)

Tel: +44 (0)20 7260 1000

 

 

Walbrook PR (PR advisers)

Tel: +44 (0)20 7933 8780

Paul Cornelius / Nick Rome

or [email protected]

 

 

 

 

About SSW

Established in 2008, SSW specialises in the provision of rural and last mile broadband services with customers across 31 countries. SSW's solutions target B2C and B2B users, and the Company has products developed specifically for the broadcasting, Police and Military markets. SSW operates a number of brands such as Europasat (Europe), Breiband (Nordics) and SkyMesh (Australia) and is now the fourth largest independent provider of satellite broadband internet services in the world.

 

The 2015 listing on the London Stock Exchange together with the support from Business Growth Fund and investors in 2016 have put the Company in an excellent position to continue strong organic growth in its subscriber base and recurring revenues as well as execute on preferred acquisitions. The Directors believe there is a major opportunity to continue this organic growth and as appropriate consider acquisitions throughout the fragmented European satellite broadband market and further afield.

 

Working closely with satellite owners and operators, SSW targets customers in the 'digital divide' with solutions that deliver up to 40 Mbps satellite based broadband services or fixed wireless to almost any premises, whether residential, commercial or industrial across Europe and Australia, irrespective of location or local infrastructure.

 

Notes to Editors

 

Superfast Cornwall Evaluation - Evaluation Report with Executive Summary

 

www.gov.uk/government/publications/uk-digital-strategy

 

 

About ERDF

The project has been awarded up to £1,202,711 of funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.  The Department for Communities and Local Government is the Managing Authority for ERDF.  Established by the European Union ERDF funds help local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations.

 

For more information visit

 

www.gov.uk/european-growth-funding

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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