Lite Access updates fiber network initiatives in five Canadian locales
Lite Access Technologies Inc. (TSXV: LTE) (OTC PINK: LTCCF), which specializes in construction of fiber to the home (FTTH) networks, has provided updates on both new and existing fiber infrastructure initiatives in five Canadian locations. The projects target end-users in Brooks and Clearwater County, Alberta, and West Vancouver, Prince George, and the southeastern section of British Columbia.
The Brooks project calls for construction of a city-wide FTTH broadband network capable of delivering services of a gigabit and potentially greater. Lite Access values the project at approximately CAN$14.4 million, although the company notes that a final contract remains under negotiation. Lite Access won the project after responding to an RFP the City of Brooks issued in August 2020.
The company is already active in Clearwater County, Alberta, where it has completed most of the design/build portion of an FTTH deployment. The approximately CAN$1.2 million project should be completed this April.
In the company’s home province of British Columbia, Lite Access won a contract worth more than CAN$400,000 from what the company describes as “a major Canadian carrier.” Work on the project started last month and is close to completion. Also, Lite Access submitted a successful response to an RFP for a fiber network build in the southeastern part of the province. The deal, worth approximately CAN$1 million, is still in contract negotiations but construction is expected to kick off this June. And in Prince George, Lite Access says it recently completed Phase 1 of a fiber project for the city as part of a deal worth approximately CAN$1.1 million. Phases 2 and 3 of the project, valued at approximately CAN$400,000, are expected to reach completion by the end of June.
"The Canadian market and business conditions continue to improve and provide a real, sustainable opportunity for our company's growth,” commented Carlo Shimoon, president and CEO of Lite Access. “Even before the Canadian Government's announcement last October to spend $10 billion on infrastructure initiatives such as broadband, we have definitely witnessed business activity picking up following some process delays due to coronavirus. Our proposal activity in Canada has been and continues to be much busier than normal. Lite Access is well-positioned to engage in infrastructure projects, diversify our client base, and expand our presence in Western Canada and other regions."
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
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