July 9, 2024
NORTHBROOK, ILLINOIS – July 9, 2024 – UL Solutions Inc. (NYSE: ULS), a global leader in applied safety science, today announced the acquisition of TesTneT Engineering GmbH, a Germany-based leader in hydrogen component and system testing, deepening our expertise in alternative fuels and enhancing our ability to impact global decarbonization efforts.
With headquarters outside Munich and a second location near Vancouver, Canada, TesTneT has a strong global customer base that includes the automotive sector and top-tier original equipment manufacturers of hydrogen components and systems.
Hydrogen plays a critical role in the transition to low-carbon transportation and energy systems. The acquisition strengthens UL Solutions’ position in the hydrogen industry, adding TesTneT’s advanced testing capabilities and capacity and its deep understanding of customer challenges.
“Hydrogen technology is increasingly important in the transition to sustainable energy, and as a global safety science leader in the energy transition, this is a promising field for us,” said Jennifer Scanlon, president and CEO of UL Solutions. “The addition of TesTneT will enable us to better collaborate with our customers to help advance the safe adoption of hydrogen-powered technologies globally.”
Founded in 2009, TesTneT provides comprehensive testing services for various hydrogen storage systems, refueling stations and their components. It conducts hydraulic tests, destructive testing, materials testing and customized testing of storage tanks.
“TesTneT’s extensive scientific expertise, steadfast dedication to safety and deep commitment to strong customer relationships make the company an ideal fit for UL Solutions,” said Dr. Marius Herr, CEO and a co-founder of TesTneT. “We look forward to expanding our capacity and capabilities in new markets, and we proudly join the organization’s 15,000 employees working for a safer world.”
The transaction closed on July 8, 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 110 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.
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