UL Solutions Expands Global Impact with Acquisition of Hydrogen Testing Company TesTneT
Key Ideas
- UL Solutions acquired TesTneT, a Germany-based hydrogen testing company, to enhance expertise in alternative fuels and contribute to global decarbonization efforts.
- TesTneT's advanced testing capabilities in hydrogen storage systems and components will strengthen UL Solutions' position in the hydrogen industry.
- The acquisition enables UL Solutions to collaborate with customers to promote the safe adoption of hydrogen-powered technologies worldwide.
- The transaction closed on July 8, 2024, marking a significant milestone in UL Solutions' commitment to advancing sustainable energy solutions.
UL Solutions Inc., a global leader in applied safety science, has acquired TesTneT Engineering GmbH, a Germany-based company specializing in hydrogen component and system testing. The acquisition aims to enhance UL Solutions' expertise in alternative fuels and support global decarbonization efforts. TesTneT, with headquarters near Munich and a second location in Canada, serves a diverse customer base including the automotive sector and top-tier manufacturers. The move reinforces UL Solutions' position in the hydrogen industry, leveraging TesTneT's testing capabilities and understanding of customer challenges. This strategic acquisition enables UL Solutions to better collaborate with customers in advancing the safe adoption of hydrogen-powered technologies worldwide. Founded in 2009, TesTneT offers comprehensive testing services for hydrogen storage systems and refueling stations, conducting various tests to ensure safety and performance. Dr. Marius Herr, TesTneT's CEO, expressed enthusiasm for joining UL Solutions and expanding capabilities in new markets. The undisclosed transaction closed on July 8, 2024, underlining UL Solutions' commitment to driving sustainable energy solutions and innovation globally.
Topics
Middle East
Business Growth
Energy Transition
Alternative Fuels
Decarbonization
Global Market
Acquisition
Automotive Sector
Safety Science
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