Hydrogen economy, Plug Power acquires energy system integrator Frames Group
The Frames acquisition will support Plug Power’s goal to reach an installed electrolyzer capacity of three gigawatts (GW) by 2025. Plug will combine its world-class stack technology with Frames’ systems integration capabilities to deliver a range of turnkey electrolyzer solutions.
Plug Power has announced the acquisition of Frames Group, a primary company in turnkey systems integration for the energy sector, specializing in design, build and deliver of processing equipment, separation technologies, flow control and safeguarding systems. Headquartered in the Netherlands, Frames has about 300 employees located largely in Europe and India.
It is only the latest announcement made by Plug Power, after the recent cooperation with Lhyfe aimed at boosting hydrogen production and distribution all over Europe. Another partnership, this time with SK E&S, is addressed to hydrogen development in Asia, with the idea of building a gigafactory in South Korea. The Frames acquisition will support Plug Power’s goal to reach an installed electrolyzer capacity of three gigawatts (GW) by 2025. Plug will combine its world-class stack technology with Frames’ systems integration capabilities to deliver a range of turnkey electrolyzer solutions from one megawatt (MW) containers to 1,000 MW standalone plants. Set to open its new European headquarters in North Rhine-Westphalia, Germany, in early 2022, Plug has also invested in a manufacturing facility, service center, and a green hydrogen fund in Europe.
Statements from Plug Power and Frames Group
«Frames Group delivers outstanding services cost-effectively to many of the world’s largest energy providers. We look forward to our journey together, delivering value to customers around the world through our green hydrogen solutions», said Andy Marsh, CEO for Plug Power. «Plug Power is set to become one of the largest pure play green hydrogen ecosystem companies».
«We are delighted to become part of the Plug Power organization», said Frans Roozendaal, CEO of the Frames Group. «There is a great cultural fit and alignment between our teams, which we have developed over the years as partners. Together with the Plug Power team, we can assist our current customer base, accelerate their journeys and decarbonize their energy offerings».