Plug Power set to acquire Applied Cryo Technologies


Plug Power Inc. has agreed a definitive agreement to acquire Applied Cryo Technologies, Inc. (ACT), a provider of technology, equipment and services for the transportation, storage and distribution of liquefied hydrogen, oxygen, argon, nitrogen and other cryogenic gases.

Houston, Texas-based ACT, a manufacturer of highly engineered equipment servicing multiple applications throughout the industrial gas and energy industries, adds significant capabilities, expertise, and technologies to Plug Power, which will help the company expand the green hydrogen ecosystem. ACT’s services include upfront engineering, fabrication, and repair and maintenance and last year unveiled its ‘Goldilocks’ Microbulk Delivery semitrailers series

The transaction is expected to close during the fourth quarter of 2021 and is subject to customary closing conditions, including receipt of all approvals or the termination or expiration of all waiting periods required under applicable antitrust laws.

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