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Plug Power to expand electrolyser capacity and European growth with Frames Group acquisition

Plug Power to expand electrolyser capacity and European growth with Frames Group acquisition

Plug Power is one step closer to having an installed electrolyser capacity of 3GW by 2025, having announced the acquisition of Frames Group in a €85m ($98m) cash and €30m ($35m) earnouts transaction.

A strategic move for the New York-based company, the purchase of Frames Group will see the combination of Plug Power stack technology with Frames Group’s system integration capabilities.

With such grouping, it is hoped Plug Power will provide a range of turnkey electrolysers solutions from 1MW containers to 1,000MW standalone plants.

On the acquisition, Andy Marsh, CEO of Plug Power, said, “Frames Group delivers outstanding services cost-effectively to many of the world’s largest energy providers.

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