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Andrew Larson

Andrew Larson

Web Editor at Hartford Business Journal Online

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Influence score
38
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Location
United States
Languages
  • English
Covering topics
  • General Assignment News

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Recent Articles

hartfordbusiness.com

S&P downgrades 4 CT utility companies’ credit ratings, citing ‘regulatory’ issues

Credit-rating agency Standard & Poor (S&P) has downgraded the credit rating of four Connecticut utilities, saying that the state’s “regulatory construct … will increase the utilities' cash flow volatility, decrease the stability of their financial performances and weaken their ability to consistently manage regulatory risk.” On Friday, the agency downgraded the credit rating of Connecticut Natural Gas (CNG) by two notches to BBB+, and the credit rating of Southern Connecticut Gas (SCG) by one notch to BBB. Both utilities are subsidiaries of Orange-based Avangrid Inc.
14 days ago
hartfordbusiness.com

PURA cuts rates of 2 gas utilities, requires return of $120M to cus...

The state’s utility regulator issued final decisions Monday not only denying rate increases proposed by two natural gas companies, but requiring them to collectively pay back $120 million to customers. In the decisions, the Public Utilities Regulatory Authority (PURA) approved $417.5 million in revenue for Connecticut Natural Gas (CNG), 9.6% less than the $461.81 million it requested for the rate year that runs from Dec. 1 to Nov. 30, 2025. The utility company’s current revenue level is set at $442.11 million.
about 1 month ago
hartfordbusiness.com

Poll: Many small business owners delayed decisions due to president...

Many small- and medium-sized business owners said they delayed making important decisions about 2025 until they knew who would be in the White House, according to a poll taken prior to the election.  According to the KeyBank Small Business Flash Poll, 61% of respondents said they were “likely to seek clarity and hold off on major business decisions until after the election.” Cleveland, Ohio-based KeyBank has a major presence in Connecticut.   Just 12% of respondents said the election would have no impact on their planning for 2025, according to the poll. 
about 1 month ago
hartfordbusiness.com

CT startup raising $2.5M to develop heavy-duty fuel cell engine

A Groton-based company developing a fuel cell engine for heavy-duty vehicles – an emissions-free alternative to a traditional diesel engine – has closed a pre-seed fundraising round led by Connecticut Innovations. Co-founder and CEO of Nimbus Power Systems Inc. Michael Gorman said Thursday that the company has raised “most” of the $2.5 million offering it reported to the U.S. Securities and Exchange Commission on Sept. 12. Gorman said the company expects to close on the balance in early December.
about 2 months ago
hartfordbusiness.com

Mohegan Sun says it’s now home to the most EV-charging stations in CT

Casino operator Mohegan Sun has unveiled new electric vehicle chargers through a partnership with Tesla, bringing its total number of charging stations to 60. As a hub for EV-charging, Mohegan Sun said it is now home to the most charging stations in Connecticut. The chargers are compatible with Teslas as well as other EV carmakers.  "With this second phase of our partnership with Tesla complete, Mohegan Sun now has a significant amount of EV charging capacity across our parking areas," said Jeff Hamilton, president and general manager of Mohegan Sun. 
about 2 months ago
hartfordbusiness.com

Despite some pushback, FuelCell shareholders approve reverse stock ...

FuelCell Energy shareholders handily approved a reverse stock split proposed by the Danbury-based company’s board of directors last week, despite backlash and an opposition campaign from an investor. On Oct. 31, shareholders voted in favor of the reverse stock split by nearly a 7:3 margin during a special meeting of stockholders. About 65.8% of votes were in favor of the reverse stock split; 33.4% voted against it. Less than 1% abstained. About 47% of the voting power of the company’s common stock participated in the vote.
about 2 months ago
hartfordbusiness.com

CCSU debuts new Cybersecurity Hall, partners with biz to keep pace ...

Seven years ago, Central Connecticut State University didn’t offer a cybersecurity course. By 2019, the state university enrolled 49 students in a newly formed cybersecurity program. Now, as the school unveils a dedicated Cybersecurity Hall featuring specialized labs and equipment, the program has 164 students. The exponential growth comes as the nation sees unprecedented demand for jobs in the cybersecurity field.
about 2 months ago
hartfordbusiness.com

Glastonbury home improvement contractor opening new shoreline location

A Glastonbury-based home improvement business is opening a second location in Clinton. Turner Home Improvement Contractors said the new location at 5 Heritage Park Road will allow it to better serve its growing number of clients on the shoreline. There has been a significant increase in demand for residential and large community projects along the shore in recent years, the company said.
2 months ago
hartfordbusiness.com

Largest news media company in CT offers employee buyouts

Hearst Connecticut Media Group, the largest owner of newspapers in the state, has offered buyouts to multiple employees. The company, owned by media conglomerate Hearst Corp., publishes eight daily and more than a dozen weekly newspapers around the state.  On Monday, Leeanne Griffin, a senior food reporter at Hearst CT, announced on LinkedIn that she accepted a voluntary buyout after nearly four years with the company. She has worked in daily journalism as a website producer and reporter, including at the Hartford Courant, for more than 20 years.
2 months ago
hartfordbusiness.com

Women’s health tech company to lay off 71 employees at Danbury faci...

A Massachusetts-based women’s health technology company is closing its Danbury facility and will lay off 71 employees effective Dec. 20, according to a filing with the state Department of Labor. Hologic Inc. announced in 2022 that it would close its location at 36-37 Apple Ridge Road, which manufactures breast health equipment products, by 2025. Its lease for the property expires in 2026. The Danbury plant’s operations will be moved to Hologic’s facility in Newark, Delaware, the company said. 
2 months ago
hartfordbusiness.com

State awards $28M for broadband internet projects in 88 towns and c...

The state has awarded $28 million in pandemic-relief grants to improve broadband internet access in 88 Connecticut municipalities, Gov. Ned Lamont and Connecticut Department of Energy and Environmental Protection Commissioner Katie Dykes announced. The grants, part of the ConneCTed Communities Grant Program, will support the buildout of broadband infrastructure. The grants are administered by DEEP. Of the 88 towns and cities, 26 are on the state’s distressed municipalities list.
2 months ago