Kinetic Secures $156 Million in Grants for Fiber Expansion

Kinetic's Major Fiber Expansion Initiative

Kinetic, a prominent provider of fiber internet services, has recently achieved a significant milestone by receiving preliminary federal grants through the Broadband Equity Access and Deployment (BEAD) program. These grants, which together amount to approximately $156.6 million, are set to enhance fiber connectivity for nearly 52,000 rural homes and businesses across four states.

Details of the Grants

The states included in this initiative are Georgia, Arkansas, New Mexico, and North Carolina, with Georgia being the focal point. The anticipated funds are intended to support the installation of multi-gigabit fiber connections, ensuring a robust internet experience for residents and businesses in these underserved areas.

Collaborative Efforts for Broadband Accessibility

Kinetic's executive team, led by Jeff Small, expresses pride in collaborating with state broadband offices to extend their 100% fiber network. The partnership aims to connect approximately 49,346 locations in Georgia alone, thereby contributing to the company's commitment to bridging the digital divide in rural communities.

Impact of Public-Private Partnerships

The success of these fiber expansion initiatives can be attributed to effective public-private partnerships. Kinetic has strategically aligned with state programs that facilitate fiber installation in areas typically deemed economically challenging. Through these partnerships, Kinetic has been able to leverage its existing infrastructure to build fiber networks across vast areas, reaching more than 370,000 homes and businesses.

Future Growth Plans

In addition to the BEAD grants, Kinetic is currently undertaking an ambitious multi-year, multi-billion-dollar network modernization project aimed at expanding its fiber broadband services across its operational footprint, which spans 18 states. This endeavor will see Kinetic's fiber passing over 1.7 million homes while also enhancing connections to an additional 2.1 million locations.

Post-Merger Expansion Activities

The completion of Kinetic's merger with Uniti Group marks a pivotal moment for the company, providing fertile ground for advancing fiber broadband plans. With the merger, Kinetic anticipates increasing its reach to over 3.5 million homes, representing 75% of its service area, while exploring additional territories made accessible through the Uniti Fiber network.

Kinetic Overview

As a division of Uniti, Kinetic stands out as a leader in providing multi-gigabit fiber internet, whole-home Wi-Fi, and voice services, operating in 1,400 markets across the United States. Kinetic's ongoing projects highlight its commitment to fostering connectivity in rural markets, ensuring that every community can enjoy high-speed internet services.

Contact Information for Investors and Media

If you have inquiries regarding Kinetic's operations or investor relations, reach out to Bill DiTullio, Senior Vice President of Investor Relations, at 501-850-0872 or via email.

Frequently Asked Questions

What is the purpose of the BEAD grants Kinetic received?

The BEAD grants aim to enhance fiber broadband connectivity in rural areas, supporting approximately 52,000 locations across multiple states.

How much funding did Kinetic secure?

Kinetic secured a total of $156.6 million in BEAD program grants for its fiber expansion initiatives.

Which states are benefiting from the fiber expansion?

The fiber expansion will impact Georgia, Arkansas, New Mexico, and North Carolina, with Georgia receiving the largest share of the funding.

What role do public-private partnerships play in Kinetic's expansion?

These partnerships enable Kinetic to install fiber in economically challenging areas by collaborating with state programs, thereby improving broadband access.

What are Kinetic's future growth plans?

Kinetic plans to expand its fiber service to over 3.5 million homes across 18 states by leveraging new territories post-merger with Uniti Group.

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