Sustainable infrastructure company Generate Capital and Ubiquity Management have announced a smart cities partnership to build fibre-to-the-premises networks and complementary sustainable digital infrastructure.
By combining Generate’s infrastructure-as-a-service model and Ubiquity’s expertise in fibre and broadband, the partnership aims to offer municipalities and communities comprehensive access to digital and energy transition infrastructure solutions.
Generate has acquired Ubiquity and its existing fibre networks in the Dallas-Fort Worth and Austin metro areas and in North County, San Diego, where Ubiquity currently serves more than 8400 customers.
The partnership, which also includes founding Ubiquity shareholder Montage, expects to invest more than $400 million in current projects to fund the completion of contiguous networks and will expand to serve additional cities.
This transaction expands Generate’s energy transition and sustainability-focused platform into smart cities and digital infrastructure, as well as accelerates Ubiquity’s existing fibre broadband operations and provides customers with a complete set of digital and sustainable energy solutions.
Generate already owns and operates more than 2000 sustainable infrastructure assets across the power, waste, water and mobility sectors.
“Cities have been asking for a much more integrated approach to their digital and clean energy needs as we transition from the old model, and we are excited to grow our platform with the innovative Ubiquity team to bring these communities a great answer,” said Scott Jacobs, chief executive and co-founder of Generate Capital.
“Since inception, we have pioneered the four ‘D’s’ of the infrastructure revolution – decarbonised, democratised, decentralised, and digitised – and this partnership serves as a great case study in that momentous shift where digital and energy infrastructure converge.”
Members of Ubiquity’s leadership team have expertise in development, engineering, investment and operations and previously served in leadership roles at Verizon, Sprint, Consolidated and Fair Point Communications.
“Our partnership combines Ubiquity’s industry-leading experience in digital infrastructure with Generate’s sustainability expertise and track record of partnering with both innovators and communities for the long term.”
“This team has the track record and capabilities to bring holistic solutions to municipalities at the forefront of digital infrastructure and climate solutions and a shared mission to rebuild the world for the better. Ubiquity and Generate will work tirelessly to meet the diverse and long-term needs of our communities,” said Andrew Marino, senior managing director at Generate.
Ubiquity claims its open-access fibre networks are designed to accommodate all current and future fibre uses, including long-term contracts with broadband providers, mobile carriers, government entities, utilities, edge computing, and any other industry where ubiquitous wired- and wireless connectivity is or will be critical to success.
“Since we launched Ubiquity in 2019, our driving mission has been to invest in the communications infrastructure that can empower customers, communities and the citizens they serve,” said Jamie Earp, co-founder and managing partner at Ubiquity. “Generate shares our mission and values and their commitment to Ubiquity will allow our operationally focused management team to accelerate connectivity solutions that drive resource efficiency, climate resilience and greater digital equity.
“Generate’s long term investment approach not only supports Ubiquity’s operating mindset and capabilities but allows us to do what we do at a much lower cost than many capital alternatives.”