UL Acquires HOMER Energy
Acquisition expands UL's portfolio of services in the distributed energy market
Dec 17, 2019, 09:00 ET
NORTHBROOK, Ill., Dec. 17, 2019 /PRNewswire/ -- UL, a global safety science leader, announced the acquisition of Boulder, Colorado-based HOMER Energy, the world leader in modeling and optimization software for microgrids. The acquisition combines UL's experience and recognized thought leadership in solar, wind and battery technology with HOMER Energy's system design capabilities and distributed energy project database enabling UL to expand services across the renewable energy value chain.
HOMER Energy is a privately-owned company that provides training, advisory and analytic services, and community tools to industry, government, researchers, and enthusiasts in the energy industry. HOMER Energy software set the global standard for decision making concerning the optimal mix of resources, system configuration, and capital and operating costs of microgrids.
"The distributed energy market is a fast-growing segment of the renewable power industry," said Jeff Smidt, vice president and general manager, UL's Energy and Power Technologies division. "By combining our expertise in product testing certification and HOMER Energy's expertise in system design capabilities, we will help customers along the microgrids value chain realize more value and reinforce UL's mission to make the world a safer place.''
HOMER Energy employees will join UL's existing Energy and Power Technologies division.
"We are excited to join forces with UL to offer expanded services in the renewable energy market," said HOMER Energy CEO Dr. Peter Lilienthal. "UL's footprint will enable us to expand rapidly into global markets that have demand." He continued, "Like UL, our primary focus is maintaining a high level of service to our existing clients while providing them additional services and expertise to increase their assets' value."
The transaction closed on December 16, 2019. Terms of the acquisition were not disclosed.
About UL
UL helps create a better world by applying science to solve safety, security and sustainability challenges. We empower trust by enabling the safe adoption of innovative new products and technologies. Everyone at UL shares a passion to make the world a safer place. All of our work, from independent research and standards development, to testing and certification, to providing analytical and digital solutions, helps improve global well-being. Businesses, industries, governments, regulatory authorities and the public put their trust in us so they can make smarter decisions. To learn more, visit UL.com.
Michelle Press
UL
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