Alaska Power & Telephone Company Announces Majority Ownership in SEALink Networks, Inc.

KETCHIKAN, Alaska--(BUSINESS WIRE)-- Alaska Power & Telephone Company (AP&T), an employee-owned, community-minded utility providing vital services to Alaska communities since 1957, announced it will own a majority interest in SEALink Networks, Inc. (SNI). SNI is currently developing a cable landing station for subsea cables in Westport, Washington. These cables, also known as submarine cables, are fiber optic cables laid on the ocean floor and used to transmit data between continents or across large bodies of water, including providing connectivity for Alaska to the lower 48 states.

SNI selected Westport due to its desirability as a cable landing point and expects the planned design will have the ability to serve multiple customers with significant capacity needs.

The subsea cables are anticipated to replace aging cables used by AP&T and other carriers, allowing Alaska residents, businesses, and communities to continue to receive high quality services.

Robert B. Engel, Chair of the Board of AP&T said, "This transaction is the culmination of efforts led by the Board over the past few years. We have been taking deliberate steps in our business strategies, the allocation of resources, the hiring of executive talent, and the relocation of our headquarters to Ketchikan to position AP&T for continued success. The hiring of Bill Marks as our CEO in early 2024 and Bill's knowledge, experience, expertise, and industry standing uniquely positioned him to work with the Board and other key members of the executive team to create SNI.”

Mr. Marks commented, "I joined AP&T with a strong belief about the quality and commitment of the AP&T board and employees and recognized the core competency of having the ability to permit, land and power subsea cables as a result of the geography we have served in Southeast Alaska for almost 70 years. The demand for broadband and data services through fiber optic cables is growing exponentially, technologies are changing quickly, and the expectations of customers are accelerating. It has been a fast and exciting journey to work with our Board and AP&T leadership to envision and fill a significant void in the need to replace and enhance connectivity to ensure high quality services for Alaska - and that commitment by AP&T led us to a tremendous opportunity to do what we do best for others who have this need now and in the future.”

Alaska Power & Telephone Company (OTCMKTS:APTL) is an employee- and investor-owned utility providing diverse broadband, communications, and energy services in over 40 communities throughout rural Alaska.

Additional company information can be found at: www.aptalaska.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20250128179602/en/

Jason Custer

Vice President of Corporate Development, Alaska Power & Telephone Company

Phone: 907-617-3773

Email: Jason.c@aptalaska.com

Address:

136 Misty Marie Lane

Ketchikan, AK 99901

Source: Alaska Power & Telephone Company