Prysmian Group Joins White House to Celebrate $40 Billion to Connect Americans with Affordable, Reliable, High-Speed Internet

Prysmian Group, the world leader in the energy and telecom cable industry, today joined President Joe Biden at the White House as he announced funding for high-speed internet infrastructure deployment through the Broadband Equity Access and Deployment (BEAD) program—a $42.45 billion grant program created in the Bipartisan Infrastructure Law and administered by the Department of Commerce.

“Today, Kamala and I are making an equally historic investment to connect everyone in America to affordable high-speed internet by 2030,” said President Joe Biden. It’s the biggest investment in high-speed internet ever because, for today’s economy to work for everyone, internet access is just as important as electricity was, or water, or other basic services.”

According to the White House, nearly 24 million Americans nationwide cannot access high-speed internet. All 50 states, D.C. and U.S. territories will be able to use BEAD funding to access resources to connect every resident and small business to reliable, affordable high-speed internet.

Prysmian’s fiber optic solutions allow data to be transmitted over longer distances than traditional copper cable solutions, making fiber the growing choice for internet across the U.S. – and the solution for bridging the digital divide. Prysmian’s U.S.-made fiber optic cables are manufactured at the company’s Jackson, Tennessee; Claremont, North Carolina; and Lexington, South Carolina facilities.

“We have invested in people, technology and assets to be able to support the increased demand for fiber that is necessary to ensure each American has access to reliable and affordable high-speed internet,” said Andrea Pirondini, CEO of Prysmian Group North America. “We are proud to do our part in this initiative.”

Prysmian Group has made significant investments across its North American footprint to support the growing need for fiber infrastructure and the BEAD program funding, including a $30M investment in its Jackson, Tennessee factory to retool the facility from legacy copper to fiber optic cable production, and a $50M multi-year modernization project at its Claremont fiber facility to enhance process capabilities, systems and technologies to support future growth.

“We are making these investments not only in our products but in our people and the U.S. manufacturing workforce,” said Patrick Jacobi, Senior Vice President of Telecom, Prysmian Group North America. “In Jackson, we’ve upskilled our workforce to meet the new demands of the retooled plant. While the plant was under construction, they spent time at our facilities across the U.S., learning necessary on-the-job- skills and contributing to plant production as they prepared for the transition from copper to fiber in the Jackson Plant.” “These investments will help all Americans,” said Biden. “We’re not going to leave anyone behind.”

Last July, Prysmian hosted President Biden at the site of its future submarine power cable plant in Brayton Point, Massachusetts. The President used the visit to announce executive actions to fight against climate change. Prysmian’s $200 million investment supports the development of wind power as part of the U.S. energy transition, which is vital to another goal of President Biden- installing 30 GW in offshore wind power by 2030 to support the transition from fossil fuels to renewable sources.

Learn more about Prysmian’s fiber optic solutions at https://na.prysmian.com/markets/telecoms/optical-fiber.