Avangrid’s Seventh Innovation Forum Brings Together Top Universities, National Labs and Incubators to Spark Collaboration
09 May 2024 - 4:46AM
Business Wire
Attending partners National Renewable Energy
Laboratory, Yale, Greentown Labs, SeaDeep, MIT, University of
Massachusetts, and University of Connecticut join Avangrid to
foster collaboration and develop the energy industry’s next big
innovation
Avangrid invested more than $102 million in
energy innovation projects in 2023
Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company
and a member of the Iberdrola Group, hosted its seventh Innovation
Forum today, titled “Transformative Collaboration”. The event
featured some of Avangrid’s most innovative approaches to
accelerating the country’s clean energy transition in both its
networks and renewables businesses. Photos from the event can be
downloaded here.
“Innovation is key to developing the solutions needed to advance
the clean energy transition,” said Pedro Azagra, Avangrid CEO.
“However, we know that decarbonization cannot be accomplished
through our efforts alone. The Innovation Forum is an opportunity
to bring together our many partners—including top universities,
national labs and incubators—to drive collaboration forward. The
innovation displayed today will help us improve reliability across
our operations, expand access to renewable energy, and increase
access to cost-efficient clean-energy technologies for our
customers.”
The event was kicked off by Jaquelin Cochran, director of the
Grid Planning and Analysis Center at the National Renewable Energy
Laboratory (NREL), who gave the keynote describing how NREL's
research is planning for increased renewable energy generation
across the United States and potential solutions for the challenges
associated with decarbonization. Other partners who joined the
event were Greentown Labs, SeaDeep, Yale University, MIT,
University of Massachusetts, and University of Connecticut.
“Innovation is at the forefront of how we think about things at
the NREL,” said Cochran. “So much of the power system is
changing—the impact of weather is greater, the demand for
electricity is growing, and customer expectations are transforming.
We don't want to operate in a bubble and just do research. It's
important to us to interact with industry experts like Avangrid to
not only share our findings and ideas, but also learn about the
challenges they're experiencing.”
Avangrid invested more than $102 million in energy innovation
projects in 2023 and, working with Iberdrola and under the
leadership of Chairman Galan, the company is planning to increase
that investment this year. At the Innovation Forum, Avangrid’s
network team, which serves more than 3.3 million electric and
natural gas customers across the northeast, showcased the company’s
Utility Thermal Energy Network pilot project in Ithaca. This
innovative project is being carried out by Avangrid’s New York
subsidiary New York State Electric & Gas (NYSEG) and aims to
provide an alternative to natural gas for heating without
increasing demand on the electricity grid. The company’s renewables
team, which operates 8.8 gigawatts of emissions-free installed
capacity and is developing the country’s first large-scale offshore
wind farm, showcased innovation ideas for improving offshore
operation and maintenance effectiveness, such as drone inspections
of turbines or subsea cables.
About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be
the leading sustainable energy company in the United States.
Headquartered in Orange, CT with approximately $44 billion in
assets and operations in 24 U.S. states, Avangrid has two primary
lines of business: networks and renewables. Through its networks
business, Avangrid owns and operates eight electric and natural gas
utilities, serving more than 3.3 million customers in New York and
New England. Through its renewables business, Avangrid owns and
operates a portfolio of renewable energy generation facilities
across the United States. Avangrid employs approximately 8,000
people and has been recognized by JUST Capital in 2021, 2022, 2023
and 2024 as one of the JUST 100 companies – a ranking of America’s
best corporate citizens. In 2024, Avangrid ranked first among
utilities and 12 overall. The company supports the U.N.’s
Sustainable Development Goals and was named among the World’s Most
Ethical Companies in 2024 for the sixth consecutive year by the
Ethisphere Institute. Avangrid is a member of the group of
companies controlled by Iberdrola, S.A. For more information, visit
avangrid.com.
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Media Contact: Sarah Warren sarah.warren@avangrid.com
585-794-9253
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