Plug Power Inc. has signed an agreement to acquire Frames Group, enhancing its capacity to deliver hydrogen solutions and strengthen its presence in the European energy sector.

Target Information

Plug Power Inc. is a leading provider of comprehensive solutions for the global green hydrogen economy. The company has signed a definitive agreement to acquire Frames Group, a leader in system integration for the energy sector. This acquisition will allow Plug Power to scale the delivery of hydrogen electrolysis systems and strengthen its presence in Europe, further supporting Frames' clients in their energy transition.

Frames Group, founded in 1984 and headquartered in the Netherlands, has over 35 years of experience in designing, building, and delivering process installations, separation technologies, control and security systems, and sustainable energy solutions. With nearly 300 employees primarily located in Europe and India, Frames has cultivated a partnership with Plug Power since 2017, when it began system integration for electrolysis systems based on Plug Power's technology. The acquisition aligns with Plug Power's goal of achieving an installed electrolysis capacity of three gigawatts (GW) by 2025, leveraging Frames' expertise to provide complete electrolysis solutions ranging from 1 megawatt (MW) to 1,000 MW production facilities.

Industry Overview in the Netherlands

The energy sector in the Netherlands is undergoing a significant transformation aimed at reducing carbon emissions and transitioning towards sustainable energy alternatives. The Dutch government has set ambitious targets for climate-neutral energy production by 2050, which has p