Plug Power Completes Acquisition of Frames Group

By December 9, 2021 2   min read  (406 words)

December 9, 2021 |

Frames 25kW Electrolyzer for Plug Power 2
  • Frames Group’s Leadership in Engineering, Process and Systems Integration Accelerates the Delivery of Turnkey Electrolyzer Solutions

LATHAM, N.Y.Plug Power Inc. (NASDAQ: PLUG), a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, completed the acquisition of Frames Group, a leader in turnkey systems integration for the energy sector, following the definitive agreement announced on Nov. 9, 2021.

The acquisition of Frames Group adds engineering, process, and systems integration expertise to Plug Power, enabling the company to scale the delivery of green hydrogen solutions.

“We are thrilled to welcome today 300 new employees within Plug Power, and to expand our presence globally, with employees in the Netherlands, India, the United Emirates, Malaysia and Brazil. The Frames Group’s process and control systems integration expertise, combined with Plug Power’s world-class electrolyzer stack technology, will help us attain our goal of producing over 1,000 tons per day of green hydrogen by 2028,” said Andy Marsh, CEO for Plug Power. “This is further evidence of Plug Power’s commitment to invest in developing the green hydrogen economy in Europe.”

Through the acquisition of Frames, Plug Power continues to build out its capabilities to deliver a range of turnkey electrolyzer solutions from one megawatt (MW) containerized systems to 1,000 MW standalone plants.

About Plug Power

Plug Power is building the hydrogen economy as the leading provider of comprehensive hydrogen fuel cell turnkey solutions. The Company’s innovative technology powers electric motors with hydrogen fuel cells amid an ongoing paradigm shift in the power, energy, and transportation industries to address climate change and energy security, while meeting sustainability goals. Plug Power created the first commercially viable market for hydrogen fuel cell technology. As a result, the Company has deployed over 50,000 fuel cell systems for e-mobility, more than anyone else in the world, and has become the largest buyer of liquid hydrogen, having built and operated a hydrogen highway across North America. Plug Power delivers a significant value proposition to end-customers, including meaningful environmental benefits, efficiency gains, fast fueling, and lower operational costs. Plug Power’s vertically-integrated GenKey solution ties together all critical elements to power, fuel, and provide service to customers such as Amazon, BMW, Ikea, Carrefour, and Walmart. The Company is now leveraging its know-how, modular product architecture and foundational customers to rapidly expand into other key markets including zero-emission on-road vehicles, robotics, and data centers.

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