Emerald Networks intends to complete its low-latency transatlantic cable in the first half of 2013, revising initial plans to begin operation by the end of this year.
A further $300 million must be raised by the company, which has appointed the New York-based investment bank Jefferies & Company to assist in securing the funds.
Specialist undersea communications company TE SubCom has been contracted by Emerald for the construction of the new network. When completed, the Emerald Express network is expected to achieve a 62 millisecond round trip between London and New York.
The network will also link to Iceland, allowing data centres in the country to offer ultra low latency connections to Europe and North America. In total, the new network will require 5200km of submarine fibre optic cable to be laid, which will support 100x100Gbs on each of its six fibre pairs.
Commenting on the plans, Emerald president Greg Varisco said: “The Emerald Express system‘s combination of a 100x100G per fibre pair design and ‘great circle‘ routing for optimised transatlantic low latency will enable Emerald to meet the tremendous demand for bandwidth driven by cloud services, while providing Iceland with the required connectivity to support the anticipated explosive growth of low cost, 100% carbon free, renewable energy powered data centres.”