HOUSTON – 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 ten-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.