ECFiber: Second round of funding raises $340,000

first_imgAfter connecting its first customer two days before Hurricane Irene struck, ECFiber continues to add new customers along its Phase I route through Bethel, Royalton and Barnard. The second closing of local finance at the beginning of December raised $340,000. This allows ECFiber to build additional miles in Barnard and Royalton and adjacent roads in Tunbridge, Pomfret and Sharon. Once that construction is completed in the summer of 2012, ECFiber expects to have passed approximately 60-65 percent of Barnard households. ECFiber is using an innovative funding method to extend its network, supported by local citizens who lend funds that enable build-out to local neighborhoods within and across member towns. Citizens who invest as little as $2,500 allow ECFiber to reach all households along designated routes. ECFiber determines where it will build by choosing routes that reach the greatest number of unserved businesses and households, which are then connected to ECFiber’s state-of-the-art fiber-optic service. ECFiber is committed to serving 100 percent of the households, businesses and civic institutions in the 23 member towns. It is extending its network in phases, dependent on the amount of local funding it is able to raise. 12/20/2011last_img read more