ORANGE, CONN. / AGILITYPR.NEWS / March 25, 2020 / FOR IMMEDIATE RELEASE
AVANGRID Companies and Avangrid Foundation Commit $2 Million to Support Coronavirus Response and Recovery
Grants will fund organizations addressing pandemic impact
ORANGE, Conn. — March 25, 2020 — The Avangrid Foundation and AVANGRID, Inc. (NYSE: AGR) today announced a $2 million commitment to support national and local organizations that support vulnerable communities as they deal with the coronavirus pandemic.
AVANGRID will commit $1 million in corporate funds that will be distributed across its service territories to support emergency needs in communities at the state and local level. The AVANGRID family of companies includes Avangrid Renewables and eight electric and natural gas companies in New York, Maine, Connecticut and Massachusetts.
The Avangrid Foundation, which partnered with over 300 organizations across more than 30 states last year, has designated an incremental $1 million for crisis response that will be directed to partners nationwide that are providing emergency response and community support during the pandemic. The Foundation is the primary charitable arm of AVANGRID and an independent, non-profit organization whose mission includes investing in partners who support community resiliency, disaster preparedness and at-risk groups. The Foundation also invests in education, arts, cultural heritage and the environment.
“As a provider of critical electric and gas services, AVANGRID understands the need for rapid response and is no stranger to working on the frontline of a crisis. We’re proud to offer a steady and helping hand to those who support the most vulnerable among us, particularly during these challenging times,” said Jim Torgerson, the Foundation president and AVANGRID CEO. “We are determined to help address the pandemic’s economic, social and health ramifications. Our communities are in need, and we will stand by them.”
The AVANGRID companies have already taken steps to protect the health and safety of employees and contractors, assist customers, prevent service interruptions, and address potential COVID-19 economic impacts.
The AVANGRID companies are also addressing the financial impacts of an extended public health crisis on customers, as all Avangrid Networks companies have announced suspension of service shut offs for nonpayment, and they have begun communicating with customers about programs and resources that can help customers manage bills and reduce energy usage. In addition, the companies have been working closely with emergency services, critical care facilities and hospitals to ensure continuity of service.
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About Avangrid Foundation: The Avangrid Foundation is an independent, nonprofit organization that funds philanthropic investments that primarily impact communities where AVANGRID, Inc. and its subsidiaries operate. Since 2002, the Avangrid Foundation and its predecessors have invested more than $21 million in partnerships that focus on building sustainable, vital and healthy communities; preserving cultural and artistic heritage; advancing education; and improving people’s lives. The Avangrid Foundation is committed to advancing the United Nations Sustainable Development Goals in the United States. For more information, please visit www.avangridfoundation.org.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with approximately $34 billion in assets and operations in 24 U.S. states. With headquarters in Orange, Connecticut, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 6,600 people. AVANGRID supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2019 and 2020 by the Ethisphere Institute. For more information, visit www.avangrid.com.
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