Plug Power Inc., a leading provider of turnkey hydrogen solutions for the global green hydrogen economy, signed a definitive agreement to acquire Frames Group, a leader in turnkey systems integration for the energy sector. The acquisition enables Plug Power to scale delivery of electrolyzer solutions and deepen its presence in Europe. The combination can further support Frames’ customers in their energy transition.
With over 35 years of experience, Frames designs, builds, and delivers processing equipment, separation technologies, flow control and safeguarding systems, for water and renewable energy solutions. Headquartered in the Netherlands, Frames has about 300 employees located largely in Europe and India. Frames’ relationship with Plug Power goes back to 2017 when Frames started acting as a systems integrator for electrolyzers based on Plug Power technology. 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.
Frans Roozendaal, CEO Frames: “We are delighted to become part of the Plug Power organization. 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 and accelerate their transition to sustainable energy offerings. I would like to thank Frames’ founders and Parcom for their support and trust over past years. They contributed to Frames’ focus on the development of propositions in renewable energy.’’
Marco van Vliet, Parcom: ’’Parcom is investor in Frames since 1984. We congratulate Frames with the successful development of sustainable energy offerings for its clients. This led to the partnership with Plug Power and brings enormous opportunities for the company and its employees to play a leading role in the energy transition.’’
The acquisition is expected to be completed by the end of the year, subject to works council advice.
Frames was founded in 1984 as a valve actuator company. Over the past 35 years the company expanded rapidly both in portfolio and geographic reach. Working together with its clients, suppliers, and employees Frames is energizing the world. Frames designs, builds, and delivers processing equipment, separation technologies, flow control & safeguarding systems, renewable energy and water solutions. The company’s core competence is process and control system integration. Frames converts process and control concepts into compact, highly integrated and autonomous skid-mounted solutions. The company has a global reach through its network of offices and is continuously adding new technologies to their portfolio. Although the oil and gas industry has historically been Frames’ core market, the company has also seen a strong expansion of its downstream and renewables activities. Frames’ vision is to be the first-choice partner in all energy challenges. Frames will achieve this by utilizing its know-how and core values to better understand the needs of clients. Therefore, Frames will continue to develop skills and technologies to exceed expectations, continuously striving to create sustainable added value for its clients.
More information: www.frames-group.com
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.
More information: www.plugpower.com