Google invests in electric broadband
Google has joined with investment bank Goldman Sachs and communications firm The Hearst Corporation to invest in a US broadband company that provides high-speed internet connections over electricity cables.
The sum put into Current Communications has not been revealed but the money will be used to advance the Broadband-over-Power-Line service
“These investments provide us with both capital and operating assistance as we continue to roll out Broadband-over-Power Line services to provide voice, video and data services,” said the chairman of Current Communications Group, William Berkman.
“With roughly two-thirds of the nation still without broadband and many utilities looking for means to upgrade their distribution networks, the acceleration of Current's build-out is a clear win-win for consumers.”
BPL technology uses the electric utility to provide internet access, with a modem plugged into an electrical outlet and connected to the computer.
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