JOHNS CREEK, GEORGIA--(Marketwire - Dec 2, 2011) -
Press Release 2 December 2011
Emerald Networks, Inc.
("Emerald Networks" or the "Group")
US$300 million submarine cable system to transform transatlantic
communications
New York to London low latency route will be the first
to offer 100 Gbps transatlantic capacity
Emerald Networks, Inc., a subsea cable system owner/operator that
provides low latency transatlantic capacity to the wholesale market,
today announces that the Group is to install, for completion by the
Spring of 2013, the highest capacity, low latency, transatlantic
submarine cable system in order to meet the ever increasing high
density data requirements between the U.S. and Europe. The Group which
already has cornerstone investment from the Wellcome Trust, has
recently appointed Jefferies & Company, Inc., the global investment
banking firm, to complete a US$300 million fundraise in order to
finance the project.
Emerald Networks' submarine cable system is a new-build 5,200 kms
network connecting North America to Europe with extraordinary new
capacity that will handle current, and more importantly, future demand
faster. It will disrupt the aging transatlantic fibre systems and
bring a new super information highway across the Atlantic at a
transmission rate of 100 Gbps per channel. With an expected latency of
less than 62 milliseconds round trip from New York to London, Emerald
Express will be one of the fastest networks across the Atlantic. The
last of the transatlantic cables were installed back in 2003, as a
result transatlantic demand is expected to outstrip capacity by 2015.
The unique route that Emerald Networks has carefully selected will
provide the largest low latency route across the Atlantic. Linking
Shirley, New York (Long Island) and Belmullet on the West Coast of
Ireland, with a branching unit to Grindavik, Iceland, the route will
provide the most robust, diversified, and secure connection between the
financial markets of New York and London (please see the attached route
map:-
http://www.rns-pdf.londonstockexchange.com/rns/2169T_-2011-12-1.pdf ).
The Emerald Networks route triangulates the Atlantic and
capitalises on the proximity to New York, Iceland's competitive
location and hydro and geothermal renewable resources, and Ireland's
strategic location, accessible government and attractive tax laws.
This system will ensure that the key financial markets of London and
New York have never been better served.
While the offshore high performance computing market is relatively
immature, major US and international companies are already looking at
locating their data centers in Iceland to take advantage of the readily
available, 100% green and renewable, energy and also utilising
Iceland's ambient temperatures to provide free cooling. By routing the
transatlantic cable from New York to Ireland, and including the branch
link into Iceland, the Group enables the link to a secure, premium
environment, powered by renewable energy sources, in a cost efficient
manner.
Gudmundur Arni Stefansson, Ambassador of Iceland to the United States,
commented: "Geographically Iceland is perfectly positioned to be a key
landing point for transatlantic cables and we are delighted that
Emerald Networks has chosen a route which will allow leading global
corporations to take advantage of Iceland's strategic location
utilising our free natural cooling as well as hydro and geothermal
energy sources assisting them in driving down costs of their data
center operations."
Emerald Networks' fibre optic cable is designed at 100 waves x 100 Gbps
per Fibre Pair (60Tbit total transatlantic design capacity). The speed
of computing doubles every 18 months and Telegeography expects the
demand for transatlantic capacity to increase nearly nine-fold between
2010 and 2017. Therefore, the need for a robust solution to meet
demand is paramount. As the current subsea cables are nearing the end
of their useful life and the operational cost to maintain them becomes
impractical leaving the need for newer, faster, low latency systems
like Emerald Networks, which will also have the advantage of utilizing
with the latest coherent technology.
Ray Sembler, CEO of Emerald Networks, commented: "This is an extremely
exciting time and we believe we are well placed to execute our
strategy. We expect to be ready for service by Spring 2013 with the
largest, low latency submarine fibre optic cable the industry has
seen. TE SubCom, the undersea cable system supplier has commenced
operations and we look forward to their successful completion of the
project. Their experience in building quality subsea cable systems is
readily known and the fact that they are a US-based turnkey supplier
makes them an ideal provider for the Emerald Express system. AP
Telecom, our agent reseller, has already successfully commenced
pre-sales activity with agreements to be signed imminently. Strong
relationships have been built with the governments of Iceland and
Ireland, who are fully supportive of our plans as they recognise the
inward investment that the subsea cable will bring. And finally,
Emerald Networks has engaged Jefferies, a world-class investment bank
to raise the necessary capital for the successful completion of the
system.""With the last transatlantic cable systems installed back in 2003
coupled with the increasing levels of demand for higher density data
transfer, customers are seeking the security of a system which can
replace their capacity needs on a longer lease basis. We firmly
believe that Emerald Networks provides the solution to this issue and
our system will transform transatlantic communications, providing both
low-latency and ultra-high bandwidth capacity between the US and the
UK, through advanced submarine fibre optic cable and delivering an
unparalleled service."
- Ends -
For further information:
Emerald Networks, Inc.
Ray Sembler, CEO & President Tel: 00 1 404 543 5157
Nan Lyons, VP Marketing www.emeraldnetworks.com
Media enquiries:
Abchurch
Henry Harrison-Topham / Joanne Shears Tel: +44 (0) 20 7398 7709
joanne.shears@abchurch-group.com www.abchurch-group.com
Photography
Photography of Ray Sembler, Chief Executive Officer is available from
Abchurch. To arrange, please contact Quincy Allan at
quincy.allan@abchurch-group.com
Notes to editors
Emerald Networks, headquartered in the US, is a subsea cable system
owner/operator that provides low latency transatlantic capacity to the
wholesale market.
By Spring 2013, the Group's Emerald Express will be ready for service.
Its new high capacity, low latency network connecting North America to
Europe with extraordinary bandwidth capabilities can handle current,
and more importantly future demand faster. The speed of computing
doubles every 18 months and Telegeography expects the demand for
transatlantic capacity to increase nearly nine fold between 2010 and
2017 and so the need for a robust solution to meet this demand is
paramount.
The subsea cable system will offer full diversity and is at the
forefront of undersea cable system technology. The route will span the
Atlantic from Shirley, New York, to Belmullet, Ireland, and will
include a bi-directional branch leg into Grindavik, Iceland providing
connectivity from Iceland to both New York and London. It will disrupt
the aging transatlantic fibre systems and bring a new super information
highway across the Atlantic with a transmission rate of 100 Gbps. The
end result will provide the financial markets of New York, London and
Frankfurt with the most robust connection available.
By linking North America and Europe to Iceland, Emerald Networks
enables multinational companies to take advantage of 100% green and
renewable hydro and geothermal energy resources to change the face of
high performance computing by lowering their carbon footprint.
Emerald Networks, which already has cornerstone investment from the
Wellcome Trust, has recently appointed Jefferies & Company, Inc., the
global investment banking firm, to complete as US$300 million fundraise
in order to finance the project. The Group is already in discussions
with tier 1 and 2 carriers, financial institutions, content providers,
and enterprise data center operators, whose need for data transmission
at a high speed is constantly growing.
For more information, please see: www.emeraldnetworks.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
Contact Information:
Contacts:
RNS
Customer
Services
0044-207797-4400
http://www.rns.com