Lyte Fiber Secures $142 Million Funding for High-Speed Internet Expansion in Texas

Lyte Fiber Secures $142 Million Funding for Texas Internet Expansion

Lyte Fiber, based in Houston, has secured a significant investment of $142 million from the State of Texas aimed at enhancing high-speed internet access across several counties. This funding marks the third-largest award ever granted through Texas’s Broadband Equity, Access, and Deployment (BEAD) program.

The awarded sum comprises $119 million in federal BEAD funding and an additional $23 million from the Texas Match Assistance Program (TMAP), part of the state's Broadband Infrastructure Fund. This fund was initiated by voters to facilitate widespread broadband expansion across Texas, addressing the urgent need for high-speed internet in underserved areas.

Out of over 4,000 applications submitted, only 22 projects were earmarked for funding, underscoring the competitive nature of this grant cycle. Lyte Fiber stood out by not only meeting the rigorous criteria set forth by the Texas Broadband Development Office but also by demonstrating their proven track record in delivering internet solutions. Their CEO, Carter Old, expressed gratitude for the state's support and emphasized their commitment to bridging the digital divide.

As part of their plan, Lyte intends to invest an additional $40 million from private funds, further solidifying their commitment to the broadband infrastructure in the region. The initiative aims to serve nearly 9,700 homes and businesses in seven counties, including Bee, Cass, Harris, Kleberg, Marion, Navarro, and San Patricio. This extensive project is anticipated to provide these locations with robust fiber-optic internet service capable of speeds up to 10 Gbps, benefiting a range of community institutions such as schools and health clinics.

Marc Eichenbaum, VP of Government Affairs and Community Development at Lyte, noted the significance of public-private partnerships in delivering essential services. Combining federal, state, and private funding brings about the necessary infrastructure that promotes growth and opportunity for Texas communities.

This current award follows a previous grant of nearly $58 million received by Lyte earlier in the year from the Bringing Online Opportunities to Texas (BOOT) II Program, solidifying its position as one of the fastest-growing broadband providers in Texas. The company is backed by the SDC Capital's $2.1 billion Digital Infrastructure Opportunity Fund IV, enabling them to continue enhancing Texas's digital landscape, reflecting their deep commitment to providing reliable internet.

Founded in 2023, Lyte Fiber was created by industry veterans focused on delivering top-tier internet service while also investing in the communities they serve. Their commitment includes a pledge to contribute 1% of their earnings to local charities.

For more information, they encourage interested parties to visit their website or contact them directly for inquiries. As the demand for efficient and reliable internet continues to rise, the steps taken by Lyte Fiber illustrate a proactive approach to meet the needs of Texas's evolving digital ecosystem.