MASTEC AND CONFLUENCE JOIN FORCES IN UNDERSEA NETWORK CONSTRUCTION
Confluence-1, US Eastern Seaboard ultra-high-capacity long-haul optical fiber platform
CORAL GABLES, FL., March 17, 2021 — Confluence Networks LLC today announced that MasTec Inc. (NYSE: MTZ) has acquired an equity interest in Confluence, a Florida-based developer of undersea fibre-optic communications systems. The investment will allow the company to complete development and construction of Confluence-1, the first undersea cable system dedicated to linking strategic global communications nodes on the East Coast of the United States, including: New York, NY; Miami, FL; Virginia Beach, VA; and Jacksonville, FL; and opening a new strategic node in Myrtle Beach, SC.
Confluence -1 is the first network to meet the need for direct, reliable, low-latency undersea connections among the major cable landings on the East Coast of the US, thus facilitating the interconnection of many intercontinental cable routes within the Americas, and between the Americas, Europe, Africa, and Asia. The network specifically addresses the lack of availability of continuous dark fiber and truly diverse routing on the North-South route between New York and Miami.
Confluence-1 will serve as both an extension of, and a higher-quality, more robust, scalable alternative to the US coastal terrestrial network, as well as enabling highly diverse connections among international undersea cables and many new East Coast Data Centers. When fully implemented, its 24 fiber pairs will provide over 500 Tbps of capacity on the new route. The highly secure, resilient, and fault-tolerant technology provided by Confluence-1 will prove particularly valuable in times of national crisis and for disaster recovery.
Jose Mas, MasTec’s Chief Executive Officer, commented, “We are delighted to play a significant role in this important new development as now is the perfect time to focus on true redundancy. We look forward to a long and fruitful relationship with Confluence Networks, and to the future developments that will ensue as we deepen our involvement in the global communications community.”
Paul Scott, CEO of Confluence Networks, added, “We are fortunate to have MasTec as a partner in this enterprise, and excited to be working with them in realization of Confluence-1. We see Confluence-1 as an opportunity to make a game-changing addition to both the US domestic network and the intercontinental network on the East Coast, and look toward many more such opportunities as the global network evolves.” Confluence-1 is expected to be in service 2H-2023.
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About MasTec Inc.
MasTec, Inc. is a leading infrastructure construction company operating mainly throughout North America across a range of industries. The Company’s primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility and other infrastructure, such as: wireless, wireline/fiber, and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation; heavy civil, and industrial infrastructure. MasTec’s customers are primarily in these industries. The Company’s corporate website is located at www.mastec.com. The Company’s website should be considered as a recognized channel of distribution, and the Company may periodically post important, or supplemental, information regarding contracts, awards or other related news and webcasts on the Events & Presentations page in the Investors section therein.
About Confluence Networks
Confluence Networks, LLC was formed by longtime industry veterans specifically to develop unique new undersea networks on underserved routes, capable of providing valuable services to the industry and significant returns to investors. Their website is at www.confluencenetworks.net.
For Confluence Networks media inquiries, please contact:
JSA for Confluence Networks
+1.866.695.3629 ext. 13
Note: This press release contains forward looking statements. These statements are based on management’s current expectations and are subject to various uncertainties, risks, and assumptions.