Alaska Power & Telephone Company to Receive $4.6m in BEAD Grant Funds for Fiber Optic Buildouts

Alaska Power & Telephone Company (OTCMKTS:APTL) will receive $4.6 million in BEAD grant funding, with the company providing $1.2 million in matching funds to support fiber-to-the-home buildouts in rural Alaska.

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KETCHIKAN, Alaska--(BUSINESS WIRE)-- Alaska Power & Telephone Company is excited to share that it has been selected by the Alaska Broadband Office to receive four grants totaling $4.6 million to help fund fiber to the home buildout projects in its rural service territories. AP&T will be providing $1.2m in matching funds. Initial construction is scheduled to commence later in 2026 pending environmental approvals.

“We appreciate the opportunity to partner with government funders to bring critical infrastructure to the communities we serve,” said AP&T CEO Bill Marks. “By combining public investment with private expertise, we can continue expanding modern telecommunications infrastructure to more rural and remote areas of Alaska.”

The grant funding is provided through the Alaska Broadband Grant Program, which distributes federal Broadband Equity, Access, and Deployment (BEAD) funding from the National Telecommunications and Information Administration.

AP&T’s projects will provide cutting-edge fiber optic connectivity to hundreds of rural families in the communities of Tok, Naukati, and the Goose Creek neighborhood of Thorne Bay. These projects will enable more Alaskans to benefit from new economic opportunities and an improved quality of life made possible by AP&T’s Sealink submarine fiber optic network and its terrestrial fiber backbone.

Senator Mike Cronk stated: “Reliable, advanced-speed internet is no longer a luxury for rural Alaska; it’s a necessity. I’m incredibly glad to see Tok receiving new investment in fiber optic infrastructure because it means faster connections for our students, better access to telehealth for our families, and new opportunities for local businesses to grow. Investments like this help ensure that communities like Tok stay connected, competitive, and strong for generations to come.”

Over the last several years AP&T utilized USDA ReConnect grant funds to complete the Sealink network, a regional backhaul route spanning southeast Alaska and interconnecting numerous communities, from Ketchikan to Haines. Since completing Sealink, AP&T has continued leveraging private investment and grant programs to connect additional communities to the network.

AP&T has also partnered with tribal governments to establish several grant-funded Tribal Affordability Programs, making its highest residential internet speeds available to tribal members at no cost. In addition, the company is advancing development of a new submarine cable linking Alaska to the lower 48 states. The system, known as “AK-Link,” will connect AP&T’s facilities in Ketchikan, Alaska to a landing site the company has successfully permitted in Westport, Washington. AP&T anticipates that initial construction of the Westport facilities will begin later in 2026.

AP&T is proud to note that out of all fiber-based projects awarded in the State of Alaska, its projects had the lowest installation cost per premise. This result reflects the AP&T team’s extensive experience building telecommunications infrastructure, its cost-effective deployment approach, its competitive attitude, and its ability to leverage existing assets such as the Sealink network.

Alaska Power & Telephone Company (OTCMKTS:APTL) is an employee- and investor-owned utility providing diverse broadband, communications, and energy services in over 40 communities throughout rural Alaska.

Additional company information can be found at: www.aptalaska.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20260313684365/en/

Jason Custer
Vice President, Corporate Development – AP&T
Cell Phone: 907-617-3773
Email: Jason.c@aptalaska.com

Alaska Power & Telephone Company

136 Misty Marie Lane

Ketchikan, AK 99901

Source: Alaska Power & Telephone Company