Brightspeed says it expects to pass 1 million premises with new fiber by the end of 2023. The fiber to the premises (FTTP) goal is part of the service provider’s plans to spend more than $2 billion on FTTP to reach up to 3 million homes and businesses over the next five years.
The deployment will leverage XGS-PON technology to enable the delivery of multi-gigabit services. Brightspeed has already begun deploying FTTP in its home state of North Carolina, which will be the company’s largest single-state market. This roll out leverages fiber from Corning Inc. (NYSE: GLW) and XGS-PON equipment from Calix Inc. (NYSE: CALX).
"We are confident we will have our first office application ready for testing in just a few weeks," added Chris Creager, chief administration officer of Brightspeed. "The Brightspeed team – with the support of our outstanding supply chain partners – has been working non-stop to ensure that we have the necessary materials, equipment, and statements of work in place to enable this ambitious build."
Brightspeed is the name of the company expected to be created through the pending acquisition of the incumbent local exchange carrier (ILEC) assets and associated operations of Lumen Technologies (NYSE: LUMN) by Apollo-managed funds (NYSE: APO; see "Brightspeed launches, builds fiber network toward U.S. rural, suburban communities"). "We are working to secure final regulatory approvals in the third quarter of this year," said Bob Mudge, CEO of Brightspeed. "We have already begun design and construction preparations necessary to hit the ground running on day one. We will be well-equipped to quickly deliver on our mission to bring ultra-fast, reliable internet and WiFi to more homes and businesses."