Google and Goldman Sachs have invested in Current Communications, a broadband over power line technology firm. Current’s press release on the news states that
“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 William Berkman, Chairman of CURRENT Communications Group. “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 enables the delivery of high-speed, two-way broadband through electrical outlets in homes and offices. It needs no special equipment in the home or office and transforms existing electrical wiring into a secure broadband network.
Current is the BPL firm that is working in partnership with electric utility Cinergy in a BPL retail pilot in Cinergy’s service territory. This ZDNet article notes that
Last year, Current and Cinergy Broadband, a subsidiary of energy company Cinergy, announced that their two joint ventures had received $70 million from Cinergy, EnerTech Capital and Liberty Associated Partners.
As part of last year’s announcement, Current and Cinergy Broadband said they would create one joint venture to bundle broadband and voice services for Cinergy’s 1.5 million customers in Ohio, Indiana and Kentucky. A second joint venture would deploy broadband over power lines to smaller municipal and cooperatively owned power companies, which reach about 24 million customers across the United States.
I’ll have more to say about BPL once I’m home again and have caught up on my sleep.