UL Solutions Stock Price, News & Analysis

UL Solutions Inc. (NYSE: ULS) has launched the AI Model Transparency Benchmark, a groundbreaking rating program for devices incorporating artificial intelligence. This initiative aims to address concerns about AI reliability, security, and ethical implications, promoting responsible AI development. The program assesses AI model transparency by examining key areas such as data management, model development, security, deployment, and ethical considerations.

The benchmark provides a clear rating of an AI system's transparency and trustworthiness, resulting in a marketing claim verification. Systems are scored from 0 to 100, with ratings ranging from 'not rated' (≤50) to Diamond (≥81). This standardized framework helps businesses and consumers make informed decisions about adopting and using AI-enabled products, potentially addressing the concerns reported by 52% of Americans according to the AI Index 2024 Annual Report by Stanford University.

UL Solutions (NYSE: ULS) has expanded its smoke detection device sensitivity testing to its Suzhou, China laboratory. This expansion enhances in-region accessibility to testing and efficiency in product research and development, addressing new certification requirements that can help advance fire safety. The facility can now test smoke detection devices according to various sensitivity test requirements of UL 268 and UL 217 standards.

These standards were updated to help mitigate cooking nuisance alarms while addressing smoke from fires in modern environments. The expansion supports UL Solutions' mission of working for a safer world and helps global customers innovate with confidence. It provides a pathway for manufacturers to demonstrate initial product performance regarding smoke sensitivity response, a critical aspect of technology application and product development.

UL Solutions (NYSE: ULS) has opened a new portable generator testing laboratory in Toronto to help manufacturers create safer products and prevent carbon monoxide (CO) poisoning. The lab tests generators for CO emissions and shutoff technology, adhering to UL 2201 standards. This initiative addresses safety concerns, as the U.S. Consumer Product Safety Commission reports an average of 92 deaths annually linked to portable generators.

To achieve certification, generators must limit CO emissions and have sensors to shut off if high CO levels are detected. Consumers can identify UL Certified models by looking for the UL Certification Mark and checking the UL Product iQ® database. This new facility aims to enhance consumer safety during power outages, wildfires, and natural disasters when portable generators are commonly used.

UL Solutions and Eyesafe have launched a new program to verify the efficacy of blue light and screen protection products for electronic devices. This UL Marketing Claim Verification program uses Eyesafe Screen Accessories 2.1 criteria to assess product performance, providing consumers with objective information about blue light reduction and color integrity.

The program measures peak filtration at 435-440 nanometers and evaluates blue light toxicity reduction, correlated color temperature shift, and luminance reduction. Verified products receive a Radiance Protection Factor (RPF), ranging from 20 to 80, similar to SPF for sunscreen. Higher RPF indicates greater blue light protection.

Upon verification, brands can use the UL Eyesafe Verified Mark on their products and marketing materials, offering transparency and credibility to consumers concerned about visual discomfort and sleep disruption due to increased screen time.

UL Solutions (NYSE: ULS) has achieved a significant milestone in advancing electric vehicle (EV) adoption by issuing its first certification in Europe for a 400 kW fast EV charger manufactured by Alpitronic. The Alpitronic HYC400, certified to UL 2202 standard, marks the company's entry into the North American market. This certification demonstrates UL Solutions' commitment to supporting the growing demand for higher power and faster charging in the EV industry.

The certification process, conducted at UL Solutions' EV Charging Test Center in Neu-Isenburg, involved rigorous safety and performance evaluations. The 400 kW charger can significantly reduce charging times, addressing a major concern for EV adoption. This development aligns with the global trend of increasing EV adoption and the rapid expansion of charging infrastructure, particularly fast chargers.

UL Solutions Inc. (NYSE:ULS) announced the full exercise of the underwriters' option to purchase an additional 3,000,000 shares of Class A common stock from the selling stockholder, UL Standards & Engagement. This is in connection with the previously announced secondary public offering of 20,000,000 shares. The additional shares were sold at $49.00 per share, less underwriting discounts and commissions.

The sale of these additional shares has closed. UL Solutions did not offer any shares or receive any proceeds from the sale. Goldman Sachs & Co. and J.P. Morgan acted as lead managing bookrunners, with several other firms participating in various roles. The offering was made only by means of a prospectus, available through the lead bookrunners.

UL Solutions Inc. (NYSE:ULS) has announced the pricing of a secondary public offering of 20,000,000 shares of its Class A common stock at $49.00 per share. The offering consists entirely of secondary shares to be sold by UL Standards & Engagement, with underwriters having a 30-day option to purchase up to an additional 3,000,000 shares. UL Solutions is not offering any shares and will not receive any proceeds from the sale. The offering is expected to close on September 9, 2024. Goldman Sachs & Co. and J.P. Morgan are acting as lead managing bookrunners, with several other firms participating in various roles. The offering is being made only by means of a prospectus, with copies available from the lead bookrunners.

UL Solutions Inc. (NYSE: ULS) has announced the launch of a proposed secondary public offering of 20,000,000 shares of its Class A common stock. The offering consists entirely of secondary shares to be sold by UL Standards & Engagement, the selling stockholder. Underwriters will have a 30-day option to purchase up to an additional 3,000,000 shares from the selling stockholder. UL Solutions is not offering any shares and will not receive any proceeds from the sale. Goldman Sachs & Co. and J.P. Morgan are acting as lead managing bookrunners, with several other firms involved in various capacities. The offering will be made only through a prospectus, and a registration statement has been filed with the SEC but is not yet effective.

UL Solutions has issued a warning about potentially hazardous communications cable that may pose a fire risk. The affected product is the ELITE CABLE CAT6 24AWG STRANDED - CM, 1000FT, UNSHIELDED cable. UL Solutions recommends removing this product from service as it does not comply with the appropriate Safety Standard.

The cable can be identified by its surface print: 'ELITE 1000X PATCH CABLE CAT 6 GIGASYSTEM --- E224805-W UTP 4PR 24AWG 75C C(UL) US CM'. The box is labeled 'ABA Elite CAT6TM Stranded CM 1000 Ft.' with part number TPM2404N70BL. Only cable boxes with UL serial numbers ranging from AH52585562 to AH52585729 (168 units) are affected. These products were sold in the United States and Canada.