E-net to proceed with fibre expansion after raising €12m from EIB

19 Feb 2015

E-net is to expand its fibre-optic network across Ireland after the European Investment Bank agreed to provide an initial investment of €12m for the project.

The investment represents the first engagement in Ireland under the Innovfin programme aimed at streamlining lending for innovation.

E-net is currently deploying a number of fibre-to-the-business networks in key towns and cities, including Claremorris, Loughrea, Ardee and Kilkenny.

The company, which manages the State’s investment in metropolitan area networks in 94 towns and cities, was acquired in 2013 by tech and media investment firm Granahan McCourt Capital.

“It acknowledges that E-net is a well-positioned, well managed and high growth company with a clear focus on delivering high quality telecommunications services to organisations in every city, town and county in Ireland,” E-net chairman and CEO of Granahan McCourt Capital David McCourt, said.

“The European Investment Bank also understands long-term infrastructure projects, which is critical for E-net as it embarks on this important expansion journey in Ireland.”

Fibre image via Shutterstock

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years