Fast2Fibre is delighted to announce that it has been awarded a significant grant by Innovate UK’s Sustainable Innovation Fund.
The grant will advance research & development into the extraction of the plastic core of buried coaxial cables, of which there are tens of millions of metres to be upgraded to fibre in Europe alone. Fast2Fibre is a leading company in this technology, operating on a truly global scale.
Innovate UK Executive Chair, Dr Ian Campbell, commented; “In these difficult times we have seen the best of British business innovation. The pandemic is not just a health emergency but one that impacts society and the economy. Fast2Fibre, along with every initiative Innovate UK has supported through this fund, is an important step forward in driving sustainable economic development. Each one is also helping to realise the ambitions of hard-working people.”
Innovate UK, as part of UK Research and Innovation, is investing up to £191 million to fund single and collaborative research and development projects as part of the Sustainable Innovation Fund over the next two years. The aim is to help all sectors of the UK rebuild after the effects of COVID-19. The Sustainable Innovation Fund is funding 1,103 projects, 1069 UK businesses and totalling over £130 million in support across the UK.
The COVID-19 pandemic has highlighted the importance of high capacity broadband connectivity to households and businesses. Data traffic has risen quickly as businesses have seen that employees can work effectively from home and are reviewing the potential to reduce their office estate and property overheads. Fast2Fibre’s processes enable faster fibre rollout with substantially reduced costs and increased productivity – and with the added benefit of a lower carbon footprint.
The processes have been successfully tested in a range of environments in different countries and with telecoms companies now having to deal with complex extractions in built-up areas, Fast2Fibre’s processes are in high demand. Telecoms companies are facing increased demand from customers whilst governments around the world recognise the economic benefits of fibre connectivity and are sanctioning large investments in this area.
The Innovate UK grant allows Fast2Fibre to fully develop its proposition and open up a broad range of commercial opportunities. The company already has an existing patent portfolio and will patent the technology developed within the project supported by Innovate UK.
Speaking about the Innovate UK grant, Tom Fitzherbert, CEO of Fast2Fibre commented;
“We are delighted to have been awarded this grant and would like to place on record our thanks to Innovate UK for recognising Fast2Fibre as one of the most innovative companies in the UK. The net result of Innovate UK’s support of Fast2Fibre will be greater access at faster speeds for millions of people to information, health, entertainment, communication and work and we can now advance the delivery of the next generation of connectivity.”