Internet provider Wildanet, based in Cornwall, has received a £35 million investment from the UK Infrastructure Bank to fast-track its broadband rollout in rural areas of the county.

The £35m capital will empower Wildanet to expand and upgrade its high-speed internet network, which serves the most challenging areas in the UK to reach, economically and socially benefiting local communities and economies.

The investment will facilitate connections for up to an additional 20,000 homes and businesses to faster broadband, contributing to an even playing field for rural communities and businesses throughout the county.

This funding, along with a revolving credit facility from Santander, aided by Deloitte, will support Wildanet's work in rural Cornwall as part of Project Gigabit.

Wildanet was awarded a £41 million contract in April 2024 to roll out new connections to more than 16,800 homes and businesses in East Cornwall, West Cornwall and the island of St Mary’s in the Isles of Scilly, following two contracts worth £36 million in 2023 to connect up to 19,250 homes and businesses in South West and Mid Cornwall.

Work is well underway to connect hard-to-reach rural communities in South West and Mid Cornwall, transforming their internet connectivity.

In 2023, Wildanet established the Wildanet Technical Training Academy in Cornwall to train the next generation of telecommunications engineers, supporting high-speed broadband rollout.

In January, Wildanet became the first UK AltNet to become a Certified B Corporation, reflecting its commitment to ethical and sustainable operating practices.

Wildanet plans to continue its expansion across the South West, serving rural and coastal communities with gigabit-capable broadband to help reduce digital exclusion across the region.

Ian Brown, UK Infrastructure Bank Head of Banking and Investment, said: "The nature of Cornwall’s location and its geography makes it one of the most difficult to reach places for internet providers and as a result has lower speeds than the UK average.

"Our financing for Wildanet’s rollout will support communities and grow economies that would otherwise miss out on the benefits associated with improved connectivity."

Helen Wylde-Archibald, CEO of Wildanet, said: "Today’s announcement supports and accelerates our far-reaching roll out plans for Cornwall and unlocks growth in our own company as we continue our mission to transform connectivity and opportunities in Cornwall, at the same time as creating a dynamic, profitable and sustainable business."