In terms of safety testing, no service enjoys the cache of Underwriters Laboratories (http://www.ul.com), a 115-year-old organization that provides an electric applicance with immediate validation if it carries a “UL” certification logo. Find the “UL” on the product and you know it’s safe, is how the service works. But now, in what the organization suggests is a logical extension of their service as well as a growth strategy, Underwriters Laboratories has created a new unit, called UL Environment Inc,. and is branching out into an environmental claims verification service. UL will be testing the accuracy of manufacturers claims of such things as energy efficiency.
This should be important news to a variety of smallcap companies in the green tech, or cleantech, space. Smallcap solar companies such as ReneSola Ltd. (NYSE: SOL, http://www.renesola.com) or JA Solar (Nasdaq: JASO, http://www.jasolar.com) no doubt already boast a “UL” accreditation for the safety of their solar modules, but how efficient are they really? Or how about the fuel cell in a 24/7 Fuel Cell Power Pack made by Medis Technologies (Nasdaq: MDTL, http://www.medistechnologies.com) ? It already carries a UL designation for safety, but how “eco-friendly” is it? In the near future, we may be able to find out.