Meridiam’s Blue Suede Networks Breaks Ground in Memphis, Tennessee, on Transformative Fiber Infrastructure Project
01 May 2024 - 1:30AM
Business Wire
- New network aims to provide lightning-fast, affordable
broadband access across at least 85% of city
- The project is part of a series of Meridiam fiber investments
totalling $2.7 billion in North America and Europe
Meridiam, a leading sustainable infrastructure investment firm,
today broke ground on a transformative fiber infrastructure project
to enable citywide broadband internet access in Memphis, TN. Blue
Suede Networks, a Memphis-based fiber-to-the-premises network
developer owned and financed by Meridiam is contracted to develop,
build, finance, and manage a high-speed fiber-optic network that
will pass at least 85% of business and residential premises
throughout the city.
Ting will serve as network’s ISP partner, bringing 2-gigabit
symmetrical service and the company’s outstanding customer support
to businesses and households throughout Memphis, regardless of
residents’ income levels. Ting is expected to provide service to
the first Memphis residents in Q3 2024.
“Meridiam is dedicated to addressing 21st century communities’
needs through the delivery of utility-like fiber infrastructure,”
said Nicolas Rubio, CEO Americas, Meridiam. “Filling critical fiber
infrastructure gaps can narrow the digital divide that excludes
millions of Americans from our digital society and can compromise
economic growth.”
“Today we break ground on a new infrastructure project and start
to break through the digital barriers that will expand our city’s
potential,” said Memphis Mayor Paul Young. “This historic private
investment promises to transform Memphis from one of the country’s
least connected cities to a model of digital equity and
opportunity. It is testament to what can be achieved when
government, business, community, and private industry collaborate
with vision, ambition, and with our collective betterment as the
ultimate goal.”
This project is part of a series of Meridiam-led investments,
totalling more than $2.7 billion, into digital infrastructure that
will connect over 1.8 million homes across more than 17,000 miles,
many in rural and underserved areas in Europe and North America.
Meridiam is convinced that access to high-speed internet is
critical to bridge the digital divide and aims to contribute to a
society where anyone, regardless of income level, can communicate
instantly with others, benefit equally from essential services like
education and healthcare, and have better access to job
opportunities or can develop businesses. Projects are already
underway in Bloomington and Central Indiana; Selma and Central
Alabama; Alberta, Canada; and across Europe in Austria, Germany,
and Romania.
About Meridiam
Meridiam is a leading infrastructure developer, investor, and
manager, committed to delivering sustainable and resilient
infrastructure that delivers positive impact for communities for
the long term. Meridiam is an independent investment Certified B
Corporation™️ and an asset manager that specializes in development,
financing, and long- term management of sustainable infrastructure
assets in three core sectors: sustainable mobility, critical public
services, and innovative low carbon solutions. With offices in
Addis Ababa, Amman, Dakar, Istanbul, Johannesburg, Libreville,
Luxembourg, New York, Washington D.C., Paris, and Vienna, Meridiam
manages globally over US$22 billion with a current aggregate
capital investment of US$85 billion. Meridiam is a partner of
choice to the public sector in North America with a diversified
investment and project portfolio, extensive track record, and deep
industry expertise. At present, Meridiam manages 24 infrastructure
assets in the US, Canada, and Chile with an aggregate capital
investment close to US$29 billion. Meridiam is certified ISO 9001:
2015, Advanced Sustainability Rating by VigeoEiris (Moody’s), ISO
37001 Anti-Corruption certification by AFNOR and applies a unique
methodology in relation to ESG and impact based on United Nations’
Sustainable Development Goals (SDGs).
About Blue Suede Networks
Blue Suede Networks is a Memphis-based Fiber-To-The-Premises
network developer that aspires to serve every Memphis resident,
business, and institution with a high-speed fiber broadband
network. The company and its partners are expert in designing,
building, financing, and managing fiber optic facilities;
designing, delivering, and managing projects within Memphis; and
implementing Digital Equity programs.
Delivering accessible and affordable fiber internet for every
Memphian is central to Blue Suede Networks’ operation. The
company’s fiber network will pass at least 85% of Memphis premises
including 85% of the City’s low-income premises. Blue Suede
Networks’ is partnering with The City of Memphis, Ting and local
organizations on a comprehensive Digital Equity program that
includes creating access, connecting low-income residents to
service, equipment and device subsidies, specialized technical
support, and digital skills training.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240429215766/en/
Media: Prosek: pro-meridiam@prosek.com Antoine
Lenoir: +33 6 07 50 75 85 – a.lenoir@meridiam.com