1. UL Solutions partners with Saudi Electricity Company to enhance fire safety. 2. The MOU focuses on fire protection and life safety standards. 3. Training programs will be developed to bolster local technical expertise. 4. Collaboration aims at reducing fire risks in Saudi infrastructure. 5. The initiative aligns with global fire protection standards.
FAQ
Why Bullish?
The collaboration may drive revenue growth through increased demand for UL's services, similar to past agreements that bolstered performance in safety standards.
How important is it?
This MOU may enhance UL Solutions' market positioning and service offerings in a growing sector, indicating a positive shift in operational capabilities.
Why Long Term?
As this partnership unfolds, establishing reliable fire safety standards can lead to sustained business opportunities in the energy sector over years.
Related Companies
The collaboration between the two organizations will help advance fire safety.
UL Solutions (NYSE:ULS), a global leader in applied safety science, announced that it has signed a memorandum of understanding (MOU) with Saudi Electricity Company to collaborate on advancing fire protection and life safety standards, reflecting a shared commitment to reducing fire risk and strengthening public safety.
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Todd Denison, senior vice president, Global Regions at UL Solutions, and Eng. Sultan Al Mahasheer, executive vice president, Health, Safety, Security and Environment at Saudi Electricity Company, celebrate the signing of a memorandum of understanding to help advance fire safety in Saudi Arabia.
This cooperative fire safety initiative prioritizes operational excellence, risk management and developing training programs on UL standards for fire/life safety protection and building local technical expertise. Under the agreement, UL Solutions and Saudi Electricity Company will collaborate to advance fire safety efforts by focusing on specific areas, including the delivery of targeted fire safety training and the testing and certification of systems and components to enhance public safety.
"The rapid, large-scale developments of Saudi Electricity Company projects are a natural driver for enhanced focus on security, and compliance with safety standards to protect people and property," said Todd Denison, senior vice president, Global Regions at UL Solutions. "This partnership with the Saudi Electricity Company meets that need by strengthening fire safety for their infrastructure assets, an essential step in reducing fire risks."
The initiative will also help strengthen fire prevention, from local communities to the entire energy sector, by pairing UL Solutions' deep fire‑safety expertise with Saudi Electricity Company's nationwide reach and reinforcing the Kingdom's commitment to safety and resilience.
"Our partnership with UL Solutions strengthens our alignment with global fire protection standards and reinforces our dedication to continuous improvement in fire and life safety. This agreement reflects our ongoing commitment to elevating safety practices, ensuring that we remain at the forefront of safety excellence in the energy sector," said Eng. Sultan Al Mahasheer, executive vice president, Health, Safety, Security and Environment at Saudi Electricity Company.
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.
About the Saudi Electricity Company
Saudi Electricity Company plays a vital role by supplying the Kingdom with energy according to the highest reliability standards. The company is considered the primary source of electricity in the Kingdom. The major shareholders are the Public Investment Fund (PIF) and Saudi Aramco, holding 74.3% and (6.9%) stake respectively. SEC strives to meet the needs and expectations of the shareholders. We protect their rights, facilitate their accessibility to the information, and improve the communication channels, as we also encourage investing in investment portfolios.
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Media contacts:
Tyler Khan
UL Solutions
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T: +1 (847) 664.2139
Steven Brewster
UL Solutions
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T: +1 (847) 664.8425