UL Solutions Inc. - ULS STOCK NEWS

UL Solutions (NYSE: ULS) has announced the acquisition of TesTneT Engineering, a Germany-based leader in hydrogen component and system testing. This acquisition enhances UL Solutions’ capabilities in alternative fuels and global decarbonization efforts. TesTneT, founded in 2009, provides comprehensive testing services for hydrogen storage systems and refueling stations. With locations near Munich and Vancouver, TesTneT serves a global customer base, including the automotive sector and top-tier OEMs. This acquisition strengthens UL Solutions' position in the hydrogen industry by adding advanced testing capabilities and deep industry knowledge. The transaction concluded on July 8, 2024, but financial terms were not disclosed.

UL Solutions (NYSE: ULS) announced plans to construct an Advanced Automotive and Battery Testing Center in Pyeongtaek, Korea. The new facility will expand UL's battery testing capabilities, including EV charger testing and automotive plastic safety. Expected to open in the second half of 2025, the center aims to meet growing demands in the Asia Pacific region and strengthen Korea's EV industry. The project awaits local government approvals and will enhance UL's global testing network, complementing facilities in China, Germany, and the U.S.

UL Solutions (NYSE: ULS), a leader in applied safety science, has awarded the Grand Hyatt Seoul the UL Verified Healthy Building Mark for Indoor Environmental Quality. This is the first hotel in Asia to earn this recognition, signifying its commitment to health and safety.

The Grand Hyatt underwent stringent checks, including air handling evaluations, janitorial effectiveness, and air quality testing, reviewed by UL experts. The evaluations align with standards from the EPA, NIOSH, WHO, and ASHRAE.

The verification ensures mid-year and annual assessments to maintain this status. The hotel has also implemented additional health measures like sanitizer stations, frequent cleaning, and accredited training.

This recognition is part of the Grand Hyatt's strategy to boost occupancy and reassure guests and staff of their safety.

UL Solutions has unveiled new features and content for its UL 360 software, aimed at aiding companies in adhering to the EU's Corporate Sustainability Reporting Directive (CSRD). These updates form part of the ULTRUS™ brand, designed to enhance global safety and sustainability initiatives. The new CSRD features and the ESG Disclosure module help businesses manage extensive and costly data analysis, saving time and money in preparation for mandatory verifications. CSRD, applicable to both EU and significant non-EU businesses, expands previous regulations to increase detailed sustainability reporting. By 2028, over 50,000 companies are expected to comply with CSRD requirements.

Governor J.B. Pritzker has declared June 3 as UL Solutions Day in Illinois, recognizing the company's extensive contributions to safety science since its founding in Chicago in 1894. UL Solutions, listed on the NYSE under the symbol ULS, provides testing, inspection, certification services, and software products across over 35 industries, impacting sectors such as sustainable energy, consumer technology, and automotive. The company's global presence is marked by its iconic UL Mark on billions of products. CEO Jennifer Scanlon expressed excitement about the recognition, highlighting UL's mission of working for a safer world.

UL Solutions, a global leader in applied safety science, announced its participation in the 44th Annual William Blair Growth Stock Conference. The event is scheduled for Tuesday, June 4. Senior management from UL Solutions will present, and the investor presentation will be available on the company's Investor Relations section of its website on the same day.

UL Solutions (NYSE: ULS) has opened a new battery enclosure material screening (BEMS) laboratory in Ise, Mie, Japan, aimed at enhancing electric vehicle (EV) battery safety. This facility will allow automotive manufacturers to test and compare various materials for battery enclosures, important for preventing battery fires and thermal runaway events. The lab will employ advanced methods like the Battery Enclosure Thermal Runaway (BETR) evaluations and Torch and Grit (TaG) test method. This marks UL Solutions' second BEMS lab, furthering its commitment to advancing EV safety and supporting the automotive industry in developing lighter and safer batteries.

UL Solutions, listed on the NYSE under the ticker symbol ULS, has declared a quarterly dividend of $0.125 per share. This dividend will be distributed on June 18, 2024, to shareholders who are recorded in the company's books as of June 3, 2024. The announcement underscores UL Solutions' commitment to delivering shareholder value, highlighting its ongoing efforts in applied safety science.

UL Solutions, a global leader in applied safety science (NYSE:ULS), has acquired BatterieIngenieure, a German company specializing in battery performance testing. This acquisition enhances UL Solutions' battery testing capabilities, adding a lab in Europe and expanding their global EV battery testing footprint.

BatterieIngenieure provides comprehensive testing, simulation, and failure analysis, employing over 50 battery researchers. The acquisition supports UL Solutions' mission of advancing battery innovation and safety, leveraging BatterieIngenieure's strong relationships with European automotive manufacturers and their ongoing expansion of testing facilities.

The transaction was finalized on May 22, 2024, though financial terms were undisclosed.