Participating in the transition to a clean hydrogen economy
In 2022, Avangrid joined the Guidehouse “Building the Clean Hydrogen Economy” consortium. Avangrid studies Hydrogen energy applications in Connecticut, New York, Maine, the Gulf Coast and Oregon. The company focuses on the production, storage, and distribution of Hydrogen fuel for transportation applications. To further implement the high energy fuel in the future, companies like Avangrid are seeking low-cost, scalable uses for Hydrogen energy to reduce net carbon emissions. The high cost of Hydrogen storage and transportation has limited its use, except for rocket fuel.
Balance Sheet|Competition|New Activity|ESG|Structural|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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