A potential new player in the high speed internet access market in Bermuda has emerged with the news that Horizon Communications plans to offer broadband fixed wireless access (BFWA) services, subject to securing an Integrated Communications Operating Licence (ICOL) from the Regulatory Authority of Bermuda (RAB).
The newcomer’s founder and CEO Gilbert Darrell established the company two years ago and says he has now secured ‘millions of dollars’ in initial investment funding allowing it to switch tack from its original plan to raise capital through an ‘initial coin offering’. Speaking in early 2018, Darrell was quoted as saying that he intended to pursue crowdfunding to finance the launch, and that – if successful – his company will employ a model similar to other operations across the globe which rely on non-line of sight delivery methods to reach customers. With ambitions to expand its business model into the Caribbean, the start-up believes it can cover 95% of Bermuda and is targeting internet speeds of 150Mbps and even 300Mbps from launch (via TD-LTE technology) and at least 600Mbps within two years of launch.
The Royal Gazette notes that Horizon Communications now hopes to get hold of the necessary forms to proceed with its ICOL licence application, now that RAB is lifting a six-year moratorium on issuing new licences. As previously reported by CommsUpdate, in April this year RAB confirmed that the country’s electronic communications market would soon be reopened to accept new entrants. A month-long consultation ended on 3 May and the regulator’s decisions and recommendations on required policy and regulations are due to go back to Walter Roban, Minister of Home Affairs.