Project to Construct 1,910 Miles of Rural Broadband Network
Orbital Energy Group, Inc. (NASDAQ: OEG) (“OEG”) today announced that its subsidiary, Gibson Technical Services (“GTS”), has been awarded a new project (the “Project”) from Charter Communications, Inc. (NASDAQ:CHTR) (“Charter”) to construct 1,910 miles of rural broadband network in Virginia.
The new Virginia project follows the Company’s earlier award from Charter for approximately 8,600-miles of “full-service construction” across Louisiana, Alabama, and North Carolina. The Project is scheduled to begin immediately and extend over the next several years.
The Project is part of the Virginia Telecommunication Initiative (VATI), a similar program to the Federal Government’s Rural Digital Opportunity Fund (“RDOF”) for rural fiber buildouts. According to its website, the Commonwealth of Virginia recognizes, “[t]he digital divide – the lack of universal broadband coverage – is not only a technology issue; it is essential infrastructure for modern community and economic development…[it] promotes sustainability and growth of communities by providing access to health care … provides increased educational opportunities … and encourages an entrepreneurial economy where new and existing home-based and small businesses are able to compete globally. … Broadband is a necessity in the twenty-first century economy.”
Charter is a leading broadband connectivity company and cable operator serving more than 31 million customers in 41 states through its Spectrum brand. Over an advanced communications network, the company offers a full range of state-of-the-art residential and business services including Spectrum Internet®, TV, Mobile and Voice.
Mike McCracken, GTS’s chief executive officer, commented, “This new award from Charter demonstrates their continuing confidence in our expertise and abilities. It also illustrates GTS’s capacity to support the buildout of RDOF type programs and related projects, which we expect to continue into 2022 and beyond. GTS remains committed to helping Charter and other customers improve their broadband delivery infrastructure. Our proven track record on projects such as this recent award has enabled us to expand our current customer base and build on our long-standing relationships with iconic clients such as Charter Communications.”
OEG Vice-Chairman & CEO, Jim O’Neil, added, “Our latest project award highlights the success of OEG’s ongoing strategy to provide industry leading engineering and design solutions to the telecom industry that are valued by our customers. It also confirms our confidence in the substantial growth opportunity presented by our acquisition of GTS. We appreciate Charter’s continued confidence in OEG and GTS and look forward to executing on this newest project for them as we build out this top-notch communications network.”