UL Solutions Inc.(US:ULS) Businesswire·2025-12-18 03:30Core Insights - UL Solutions has signed a memorandum of understanding (MOU) with Saudi Electricity Company to enhance fire protection and life safety standards, demonstrating a mutual commitment to reducing fire risks and improving public safety [1][2]. Group 1: Collaboration Details - The initiative focuses on operational excellence, risk management, and the development of training programs based on UL standards for fire and life safety protection [2]. - The collaboration will include targeted fire safety training and the testing and certification of systems and components to improve public safety [2][3]. Group 2: Strategic Importance - The rapid development of projects by Saudi Electricity Company necessitates a stronger emphasis on security and compliance with safety standards to protect people and property [3]. - This partnership aims to enhance fire safety for infrastructure assets, which is crucial for reducing fire risks across local communities and the energy sector [3]. Group 3: Commitment to Safety - Saudi Electricity Company emphasizes its dedication to aligning with global fire protection standards and continuous improvement in fire and life safety practices [4]. - The agreement reflects the company's commitment to maintaining safety excellence within the energy sector [4]. Group 4: Company Backgrounds - UL Solutions operates in over 110 countries, providing testing, inspection, and certification services, along with software products and advisory offerings to support customer innovation and growth [5]. - Saudi Electricity Company is the primary electricity supplier in the Kingdom, with major shareholders including the Public Investment Fund (PIF) and Saudi Aramco, holding 74.3% and 6.9% stakes respectively [6].