UL Solutions Acquires Germany-Based Battery Testing and Simulation Company BatterieIngenieure
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.
- Acquisition of BatterieIngenieure enhances UL Solutions' global battery testing capabilities.
- BatterieIngenieure adds a European laboratory, expanding UL Solutions' global footprint.
- BatterieIngenieure employs over 50 battery experts and researchers.
- UL Solutions gains strong relationships with European automotive manufacturers through the acquisition.
- BatterieIngenieure is expanding its laboratory capacity, indicating growth and increased demand.
- Acquisition supports UL Solutions' commitment to advancing battery performance and safety.
- Financial terms of the acquisition were not disclosed, creating uncertainty about the investment's value.
- Potential integration challenges with BatterieIngenieure could arise, impacting operational efficiency.
Insights
The acquisition of BatterieIngenieure GmbH by UL Solutions signals a strategic move to bolster its global footprint in battery testing, particularly in the burgeoning electric vehicle (EV) sector. Given the increasing global demand for EVs, this acquisition can be seen as a foresighted step. BatterieIngenieure's expertise in battery life expectancy estimation and its strong ties with European automotive manufacturers provide UL Solutions with a competitive edge. From a financial standpoint, this deal could potentially enhance UL Solutions' revenue streams by tapping into the rapidly growing EV market in Europe. The value addition from a larger laboratory in Aachen, which is already under construction, will further expand their testing capacity and capabilities. Investors should note the potential for increased market share and revenue growth, but they should also monitor integration risks and the costs associated with expanding facilities.
The acquisition highlights UL Solutions' strategic positioning within the battery testing market, an area gaining prominence due to the global shift towards sustainable energy solutions. The addition of BatterieIngenieure's resources and expertise allows UL Solutions to strengthen its market presence in Europe, complementing its existing facilities in Asia and North America. This move positions UL Solutions as a more comprehensive service provider for battery technology developers, which could attract more business from global automotive and energy storage companies. The market should respond positively to this acquisition, as it aligns with the broader industry trends of increasing demand for reliable and safe battery technologies.
Deal deepens UL Solutions’ global expertise in battery performance testing and expands our global EV battery testing footprint.
The acquisition augments UL Solutions’ global battery testing footprint with a laboratory in
“The global transition to sustainable energy has increased demand for expertise in battery performance and safety testing,” said Jennifer Scanlon, president and CEO of UL Solutions. “This acquisition expands our capabilities and allows us to meet our customers where they are, creating new business opportunities as we pursue our mission of working for a safer world.”
Founded in 2015, BatterieIngenieure operates a laboratory in Aachen and has an office in
BatterieIngenieure has cultivated strong business relationships with leading European automotive manufacturers and original equipment manufacturers, and brings unique science and academic credentials to UL Solutions. In addition to electric vehicles, the cell, small modules and battery systems tested by BatterieIngenieure are used in stationary energy storage systems and other applications.
The acquisition complements other UL Solutions battery testing capabilities and facilities, including our E-Mobility and Energy Laboratory in
“UL Solutions’ global testing, inspection and certification capabilities for product safety and its significant investments globally to support battery innovation make it the ideal partner for our company,” said Dr. Dominik Schulte, managing director and a founder of BatterieIngenieure. “Likewise, BatterieIngenieure will contribute unique technical expertise, customer and industry relationships, and expanded capacity to UL Solutions. We are excited to join the organization’s more than 15,000 employees working for a safer world.”
The transaction closed on May 22, 2024. Terms of the transaction are not being disclosed at this time.
About UL Solutions
A global leader in applied safety science, UL Solutions (NYSE: ULS) transforms safety, security and sustainability challenges into opportunities for customers in more than 100 countries. UL Solutions delivers testing, inspection and certification services, together with software products and advisory offerings, that support our customers’ product innovation and business growth. The UL Mark serves as a recognized symbol of trust in our customers’ products and reflects an unwavering commitment to advancing our safety mission. We help our customers innovate, launch new products and services, navigate global markets and complex supply chains, and grow sustainably and responsibly into the future. Our science is your advantage.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240521327052/en/
Media contact:
Kathy Fieweger
Senior Vice President - Communications
Kathy.Fieweger@ul.com
+1-312-852-5156
Investors:
Dan Scott / Rodny Nacier, ICR Inc.
IR@ul.com
Source: UL Solutions Inc.
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