Plug Power
Plug Power Inc. is a leading provider of hydrogen fuel cell solutions, focusing on clean and zero-emission technologies for electric mobility and stationary power markets in North America and Europe. The company specializes in proton exchange membrane (PEM) fuel cell systems, fuel processing technologies, and hybrid solutions, alongside the necessary hydrogen storage and dispensing infrastructure. Its products include GenDrive, a hydrogen-powered PEM fuel cell system for material handling vehicles; GenFuel, which encompasses hydrogen delivery and dispensing; GenCare, a maintenance program for its fuel cell systems; and GenSure, a stationary fuel cell solution for backup and grid-support power. Plug Power also offers the GenKey solution, which integrates all essential components for fuel cell power, and ProGen, a fuel cell stack technology used in various applications. With over 40,000 deployed fuel cell systems, Plug Power is a significant player in the hydrogen economy and has established a network of hydrogen highways across North America. Founded in 1997 and headquartered in Latham, New York, the company serves a diverse clientele, including major corporations and industries.
Top Stages
10 past transactions
Joule Processing
Acquisition in 2022
Joule Processing providing custom-engineered equipment solutions for natural gas processing, treating and liquids handling.
Universal Hydrogen
Series B in 2021
Universal Hydrogen is focused on advancing hydrogen aviation by creating a comprehensive hydrogen ecosystem. Founded in 2020 and based in Hawthorne, California, the company manufactures capsule modules designed to safely transport and store hydrogen, which also function as modular fuel tanks that can be directly loaded onto aircraft. By establishing strategic partnerships and developing innovative technologies, Universal Hydrogen aims to deliver an end-to-end hydrogen value chain for aviation, encompassing both hydrogen fuel and hydrogen-powered aircraft. The company also provides a transport and logistics network that utilizes existing freight infrastructure to move hydrogen from production facilities to airports, thereby circumventing the need for expensive new pipelines and storage facilities. This approach supports the transition to carbon-free flight and aims to mitigate the environmental impact of air travel.
Applied Cryo Technologies
Acquisition in 2021
Applied Cryo Technologies is a manufacturer of specialty cryogenic equipment, focusing on the oil and gas, industrial gas, and emerging LNG markets. The company specializes in the design, production, and marketing of cryogenic trailers, which facilitate the safe and efficient transport of natural gas and LNG across various locations. In addition to their trailers, Applied Cryo Technologies provides mobile storage equipment and offers comprehensive services for the repair, rehabilitation, and refurbishment of their products. The company's equipment is designed to be easy to install and operate, catering to the needs of its diverse client base.
Universal Hydrogen
Series A in 2021
Universal Hydrogen is focused on advancing hydrogen aviation by creating a comprehensive hydrogen ecosystem. Founded in 2020 and based in Hawthorne, California, the company manufactures capsule modules designed to safely transport and store hydrogen, which also function as modular fuel tanks that can be directly loaded onto aircraft. By establishing strategic partnerships and developing innovative technologies, Universal Hydrogen aims to deliver an end-to-end hydrogen value chain for aviation, encompassing both hydrogen fuel and hydrogen-powered aircraft. The company also provides a transport and logistics network that utilizes existing freight infrastructure to move hydrogen from production facilities to airports, thereby circumventing the need for expensive new pipelines and storage facilities. This approach supports the transition to carbon-free flight and aims to mitigate the environmental impact of air travel.
United Hydrogen
Acquisition in 2020
United Hydrogen Group, Inc. is a producer and distributor of both gaseous and liquid hydrogen, dedicated to supporting the hydrogen economy and promoting environmental sustainability. Founded in 2016 and based in Canonsburg, Pennsylvania, the company operates a bulk hydrogen manufacturing facility in Charleston, Tennessee, with plans for further expansion. United Hydrogen's hydrogen products are created through a combination of electrolysis and a proprietary purification process, ensuring they meet and exceed industrial-grade purity standards. In addition to hydrogen production, the company offers various services, including pump and compressor repairs, valve and regulator installations, inspections, telemetry installations, and leak testing for multiple types of systems. United Hydrogen Group aims to contribute to reducing reliance on foreign oil and advancing cleaner energy solutions.
Giner Elx
Acquisition in 2020
Giner ELX, Inc. is a manufacturer based in Newton, Massachusetts, specializing in PEM electrolysis technologies and hydrogen generation. Founded in 2017, the company produces electrolyzers and hydrogen generators that convert water and electricity into pure hydrogen fuel, facilitating on-site refueling for hydrogen fuel cells. Giner ELX is recognized for its technical expertise, with personnel actively publishing in industry journals and participating in presentations at various technical meetings and industry events. As of June 2020, Giner ELX operates as a subsidiary of Plug Power Inc.
EnergyOr Technologies
Acquisition in 2019
EnergyOr Technologies Inc. is a Montreal-based company established in 2002 that specializes in the development of lightweight and compact proton exchange membrane (PEM) fuel cell systems. These systems cater to high value-added niche markets, including aerospace, portable power, and mobile power applications, where weight is a critical factor. The company focuses on creating tailored fuel cell solutions that meet specific customer requirements, collaborating closely with clients from the initial design phase through to system integration and product qualification. EnergyOr's product offerings include various models designed for different applications, demonstrating its commitment to innovation and customer-focused development.
American Fuel Cell
Acquisition in 2018
American Fuel Cell LLC, established in 2014 and based in Rochester, New York, specializes in the manufacture and supply of membrane electrode assemblies (MEAs) for a variety of fuel cell applications. The company's products are utilized in critical sectors such as telecommunications, healthcare, military, and industrial vehicles, including forklifts. American Fuel Cell is recognized for its ability to provide customized solutions to meet specific client needs. As of June 2018, it operates as a subsidiary of Plug Power Inc. and markets its products online.
ReliOn
Acquisition in 2014
ReliOn is a leading company specializing in the development and marketing of modular, cartridge-based proton exchange membrane (PEM) fuel cell technology. It offers a diverse range of stationary fuel cells designed for emergency and backup power, uninterruptible power supplies, and off-grid power applications. ReliOn serves a variety of sectors, including telecommunications, energy, transportation, and government entities. The company has successfully sold and delivered over 1,900 kW of fuel cells both in the United States and internationally, establishing a customer base that includes major telecommunications providers, governmental communication sites, and utility companies. Its products encompass outdoor enclosures and fuel cell systems tailored to meet specific energy needs.
Cellex Power
Acquisition in 2007
Cellex Power is a company specializing in the development of hybridized power systems that integrate battery and fuel cell technologies. These systems are designed specifically for powered industrial vehicles, such as forklift trucks. By replacing traditional lead-acid battery systems with their advanced fuel cell solutions, Cellex Power enables manufacturers of materials handling vehicles to enhance productivity while simultaneously reducing capital and operational expenditures. The company's innovative approach allows for significant improvements in efficiency and cost savings in industrial applications.
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