GTS Awarded Three-State Project By Charter Communications
Updated: Aug 30, 2022
Orbital Energy Group, Inc. (NASDAQ: OEG) (“OEG”) today announced that its subsidiary, Gibson Technical Services (“GTS”), has been awarded a project (the “Project”) from Charter Communications, Inc. (NASDAQ:CHTR) (“Charter”) for approximately 8,600-miles of “full-service construction” across three U.S. states: Louisiana, Alabama, and North Carolina.
The Project is part of the Federal Government’s Rural Digital Opportunity Fund (“RDOF”) for rural fiber buildouts. The RDOF extends the Federal Communication Commission’s (“FCC”) Connect America Fund (“CAF”) and will provide $20.4 billion in funding over a 10-year period to support broadband networks in rural communities across the country. The Project is scheduled to begin immediately and extend over the next 5-6 years.
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. Charter’s RDOF buildout represents a $5 billion investment, offset by $1.2 billion in support won in the RDOF auction, which will deliver gigabit broadband access to an FCC-estimated more than 1 million customer locations.
Mike McCracken, GTS’s chief executive officer, commented, “We are grateful for the confidence that Charter has shown in our abilities and look forward to continuing our long-standing working relationship. GTS is committed to helping its customers improve their delivery infrastructures, and these broadband services will provide a reliable, cost-effective expansion to this client's already extensive network. Our track record of execution on projects such as this has enabled us to expand our current base of customers, maintain long-standing relationships through repeat business, and garner relationships with iconic clients such as Charter Communications.”
OEG Vice-Chairman & CEO, Jim O’Neil, added, “We believe this is a transformative project for GTS and supports OEG’s ongoing strategy of providing industry leading engineering and design solutions to the telecom industry valued by our customers. GTS’s technical and operational expertise and customer service excellence has provided Charter Communications with a full-service solution to construct their RDOF program in the states we were awarded. We appreciate the opportunity that Charter has provided to OEG and GTS and are committed to successfully building out this world-class communications network.”