Avangrid Earns Security Award for State Fusion Cell Partnership

Rhea-AI Summary

Avangrid (NYSE: AGR), a leader in sustainable energy and part of the Iberdrola Group, has earned the prestigious 2024 CSO Award from Foundry’s CSO. The award recognizes outstanding security projects and initiatives that offer significant business value and thought leadership. Avangrid was honored in the Intelligence and Security Organization category for its pioneering partnership with a state fusion cell, which involves sharing security intelligence and data.

This innovative public-private partnership has enhanced data sharing speed and accuracy, enabling Avangrid to perform stronger security assessments with real-time data. CEO Pedro Azagra highlighted the importance of robust regional, state, and federal partnerships in their cybersecurity efforts. The CSO Awards celebrate organizations that excel in addressing the expanding threat landscape through cutting-edge security projects and initiatives.

CSO Award from Foundry’s CSO honors organizations with outstanding security projects and initiatives

ORANGE, Conn.--(BUSINESS WIRE)-- Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and a member of the Iberdrola Group, announced today that it has been named a winner of a 2024 CSO Award from Foundry’s CSO for its industry-leading intelligence program. This prestigious honor is bestowed upon select organizations that have implemented security projects and initiatives that demonstrate outstanding business value and thought leadership. Avangrid was selected in the Intelligence and Security Organization category for its partnership with a state fusion cell.

For the award-winning project, Avangrid partnered with a state fusion cell to share security intelligence and data through each other’s knowledge management databases. This first-of-its-kind public-private partnership has the potential to dramatically change, and improve, the way security information and intelligence is shared. Through this innovative project, Avangrid and the state fusion cell shared raw data, increasing the speed of data sharing, and in turn, allowing for more discoveries. For example, Avangrid was able to initiate strong security site assessments due to having real-time data and analysis that provided a better understanding of the threats to critical infrastructure.

"At Avangrid, we are deeply committed to implementing robust cybersecurity measures to protect our assets and safeguard our communities,” said Pedro Azagra, Avangrid CEO. “The foundation of any strong intelligence program is based in having robust regional, state and federal partnerships. We have taken that to the next level with this latest collaboration, setting a new standard for public-private partnerships. This award from CSO is a testament to our commitment to innovation and excellence in the security field.”

The CSO Awards recognize organizations for security projects and initiatives that demonstrate outstanding business value and thought leadership. The CSO Hall of Fame honors leaders who have significantly contributed to advancing information risk management and security. Inductees exemplify the qualities of leadership and excellence and, by their example, contribute to improving security across all organizations.

“The stakes grow higher every day for security leaders and their teams, and this year’s CSO Awards honor the very best efforts to tackle challenges from an expanding threat landscape,” said Beth Kormanik, content director for the CSO Conference & Awards. “From devising new threat detection methods and cyber analytics to initiatives addressing AI threats, zero trust, and data protection, these projects are at the forefront of innovative security thinking and represent true business value for their organizations. We congratulate the winners and look forward to celebrating them at the CSO Conference & Awards this fall.”

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $45 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 as one of the JUST 100 companies – a ranking of America’s best corporate citizens – in 2024 for the fourth consecutive year. 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 www.avangrid.com.

About CSO: CSO is the premier content and community resource for security decision makers leading business risk management efforts within their organizations. For more than a decade, CSO’s award-winning website (CSOonline.com), executive conferences, strategic marketing services and research have equipped security decision makers to mitigate both IT and corporate/physical risk for their organizations and provided opportunities for security vendors looking to reach this audience. CSO is published by Foundry (formerly IDG Communications, Inc.). Company information is available at www.foundryco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240712491608/en/

Media Contact:

Sarah Warren

sarah.warren@avangrid.com

585-794-9253

Source: AVANGRID, Inc.

FAQ

What award did Avangrid win in 2024 for its security project?

Avangrid won the 2024 CSO Award from Foundry’s CSO for its pioneering security intelligence program.

Why was Avangrid recognized with the CSO Award?

Avangrid was recognized for its innovative partnership with a state fusion cell, enhancing data sharing and security assessments.

What is the stock symbol for Avangrid?

The stock symbol for Avangrid is AGR.

How did Avangrid benefit from its partnership with the state fusion cell?

The partnership allowed Avangrid to share and receive real-time security data, improving their threat assessment and protection of critical infrastructure.

Who is the CEO of Avangrid who commented on the CSO Award?

Pedro Azagra, the CEO of Avangrid, commented on the significance of the CSO Award and the company’s commitment to cybersecurity.

What is the significance of the CSO Awards according to Beth Kormanik?

Beth Kormanik stated that the CSO Awards honor innovative security projects that address the expanding threat landscape, demonstrating true business value.