Current Communications Group, which provides high-speed internet access over electrical power lines, on Thursday said it has received funding from Google, the Hearst Corp., and Goldman Sachs and will use the financing to deploy of voice, video and data services in domestic and global markets, reports Reuters. The company did not disclose the amount of the investment; the Wall Street Journal reported that it was nearly $100 million.

Power lines are considered a feasible way to deliver broadband service to rural areas where cable lines, and often telephone lines, do not reach and wireless access is too expensive or not in place.

According to Current's agreements with most power companies, Current runs the internet service, bills customers and collects all of the revenue; it separately pays power companies for use of their grid, writes CNET. Current has not yet generated a great amount of revenue but has survived off of the millions of dollars raised in two financing rounds in the last two years.

"Clearly the technology is ready to be pushed into new markets and we are spending a great deal of our time trying to do that," said Scott Bruce, managing director of Current and its major backer, Liberty Associated Partners. "It's already commercial and ready for prime time."

Current's service is available primarily in Cincinnati, Ohio, through a partnership with Cinergy Corp., with smaller deployments in Maryland and Hawaii.