Shentel Awarded Grant to bring its Glo Fiber High-Speed Network to Frederick County, Maryland

Rhea-AI Summary

Shenandoah Telecommunications Company (SHEN) has announced a $10 million grant from the Maryland Office of Statewide Broadband to expand its Glo Fiber services in Frederick County, Maryland. This initiative aims to deliver high-speed internet, with speeds up to 2 Gbps, to over 3,000 homes and businesses. Construction will commence in 2023, supporting local economic growth and improving access to essential services. This move is a significant step towards closing the digital divide, enhancing connectivity for residents in underserved areas.

Positive

• Awarded a $10 million grant to expand Glo Fiber services.
• Will provide high-speed internet access to over 3,000 homes and businesses.
• Construction set to begin in 2023, boosting local economic development.

Negative

• None.

Expansion will bring internet speeds up to 2 Gbps to one of the fastest growing counties in Maryland

EDINBURG, Va., July 13, 2022 /PRNewswire/ -- Glo Fiber, powered by Shenandoah Telecommunications Company ("Shentel") (Nasdaq: SHEN), announced a $10 million grant award from the Maryland Office of Statewide Broadband to deploy next generation fiber-to-the-premises (FTTP) broadband services in Frederick County, MD. Construction will begin in 2023 to deliver an all-fiber choice for reliable high-speed internet service to over 3,000 homes and businesses in the County. Glo Fiber is currently building their multi-gigabit fiber network in the City of Frederick, with service already available in some neighborhoods.

"As the last few years have shown, high-quality and affordable internet access is critical for education, telehealth, and most importantly — jobs," said Congressman David Trone. "This funding, provided by the federal American Rescue Plan, is a win for investing in Frederick County's way of life while maintaining access to the essential services and economic benefits that broadband provides. By working with our state and local leaders, I remain committed to delivering the tools our communities need to thrive in the 21^st century." Congressman Trone has been a prominent advocate, working tirelessly for rural broadband funding.

"Reliable internet access is a necessity in today's world. Building out a system to serve all pockets of our community will take time and money, so I welcome news of this grant to help reach many of our rural areas," said Jan Gardner, Frederick County Executive. "I want to thank our federal partners, particularly Senator Chris Van Hollen and Congressman David Trone, for making broadband a priority. Frederick County's broadband study helped to lay the groundwork for the project announced today, and we will continue to look for opportunities to encourage private companies to invest in rural areas."

Glo Fiber provides unlimited multi-gigabit internet access with symmetrical upload and download speeds, streaming TV, and phone service in the Mid-Atlantic region. Using Shentel's 7,600-mile regional fiber network, Glo Fiber can ensure high speeds, low latency, and fair pricing. The company has earned a reputation for providing outstanding local customer service across its markets, including the growing list of communities in Maryland, Pennsylvania, Virginia, West Virginia, and Delaware.

"Shentel is thrilled at the opportunity to work with local and state officials to finally bring this critical service to residents who have remained unserved for far too long," said Chris Kyle, Vice President of Industry and Regulatory Affairs at Shentel. "These innovative partnerships are exactly what we need to finally close the digital divide, and we are proud to be able to join in the great work that Frederick County and the State of Maryland have been doing.  We look forward to continuing to expand our network in Frederick County well beyond this project."

To learn more about Glo Fiber, please visit www.glofiber.com. For more information about Shentel, please visit www.shentel.com or call 1-800-SHENTEL (1-800-743-6835).

About Glo Fiber

Glo Fiber (Glo) provides next-generation fiber-to-the-home (FTTH) multi-gigabit broadband internet access, live streaming TV, and digital home phone service powered by Shentel (Nasdaq: SHEN). Glo provides the fastest available service to residents leveraging XGS-PON, a state-of-the-art technology capable of symmetrical internet speeds up to 10 Gbps.

About Shenandoah Telecommunications

Shenandoah Telecommunications Company (Shentel) provides broadband services through its high speed, state-of-the-art cable, fiber-optic and fixed wireless networks to customers in the Mid-Atlantic United States. The Company's services include: broadband internet, video, and voice; fiber-optic Ethernet, wavelength and leasing; and tower colocation leasing. The Company owns an extensive regional network with over 7,600 route miles of fiber and over 220 macro cellular towers. For more information, please visit www.shentel.com.

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SOURCE Shenandoah Telecommunications Company

FAQ

What is the significance of the $10 million grant awarded to SHEN?

The $10 million grant allows Shenandoah Telecommunications to expand Glo Fiber services, enhancing internet accessibility in Frederick County.

When will construction for the Glo Fiber network begin in Frederick County?

Construction for the Glo Fiber network in Frederick County is set to begin in 2023.

How many homes will benefit from the Glo Fiber expansion in Frederick County?

Over 3,000 homes and businesses in Frederick County will benefit from the Glo Fiber expansion.

What internet speeds can residents expect from the new Glo Fiber services?

Residents can expect internet speeds of up to 2 Gbps from the new Glo Fiber services.

What is Glo Fiber?

Glo Fiber is a service offered by Shenandoah Telecommunications, providing high-speed fiber-to-the-home internet access.