Plug Power acquires Applied Cryo Technologies to enhance hydrogen distribution capabilities
By Bradley Osborne - 18th October 2021
USA - Plug Power Inc, a hydrogen fuel-cell manufacturer based in Latham, New York, has acquired Houston, Texas-based company Applied Cryo Technologies Inc (“ACT”), a manufacturer of cryogenic equipment with expertise in transportation, storage, and distribution of liquefied hydrogen and other cryogenic gases. The transaction is set to complete by the end of the year, subject to customary closing conditions.
Plug Power hopes that the acquisition will support its development of a hydrogen economy in the U.S. and elsewhere. Applied Cryo Technologies already manufactures a range of products for the distribution of hydrogen, including transport trailers and mobile storage vessels.
