Applied Cryo Technologies, Inc.

Applied Cryo Technologies, Inc. is an innovative company specializing in the design and manufacturing of advanced cryogenic equipment for the liquefied natural gas (LNG) market, focusing on safety and efficiency in various applications. Founded in 2012, Applied Cryo Technologies, Inc. operates out of Houston, US, providing customized solutions for the cryogenic equipment needs of the LNG market.

The company has maintained its core business strategy since inception, having focused on developing high-quality cryogenic products to meet industry demands. Bob Ernull serves as the CEO, overseeing the company's operations and strategic direction. In October 2021, Applied Cryo Technologies was acquired by Plug Power Inc. , a move intended to enhance capabilities within the green hydrogen ecosystem.

Applied Cryo Technologies (ACT) specializes in the design and manufacturing of specialty cryogenic equipment tailored for the liquefied natural gas (LNG) market. Their core product offerings include high-quality cryogenic pumps and tanks, atmospheric gas equipment, and a comprehensive range of solutions aimed at storing, transporting, and distributing LNG and atmospheric industrial gases. These products are engineered to meet stringent quality standards, ensuring safety, efficiency, and space-saving solutions for various applications. ACT serves a diverse clientele across multiple industries, including energy, transportation, and manufacturing, with a focus on regions that have emerging LNG markets, such as North America, Europe, and Asia-Pacific.

The company's commitment to research and development further enhances its ability to address the evolving complexities of the global cryogenic equipment landscape. ACT's revenue generation model is primarily structured around B2B transactions, where the company supplies its advanced cryogenic equipment to industrial clients and gas service providers. The firm engages in direct sales and partnerships, providing customers with tailored solutions for their specific LNG and atmospheric gas needs. Transactions typically involve the purchase of equipment, maintenance services, and quick-turnaround parts from their inventory, which includes various components for cryogenic applications.

While specific pricing details for individual products or services are proprietary, the company emphasizes the provision of high-quality, reliable equipment that meets the sophisticated demands of its clients. Flagship products in ACT's portfolio represent a significant share of its revenue, solidifying its position in the competitive cryogenic equipment market. The recent acquisition by Plug Power Inc. on October 14, 2021, is expected to bolster ACT's offerings and enable the development of new products, particularly in the green hydrogen sector.

The company plans to expand into new geographic markets, specifically targeting regions with rapid growth in LNG utilization, including parts of Europe and Asia-Pacific, by 2023. The integration with Plug Power will facilitate the utilization of recent funding to enhance research and development capabilities, streamline production processes, and broaden the scope of product lines to meet the evolving needs of the green hydrogen ecosystem.