What Friem does

FRIEM S.p.A. is an Italian privately held manufacturer of high-power electrical conversion systems, founded in 1950 in Segrate (Milano) and controlled by the third-generation Pagliai-Carnelli family. The company designs and produces AC/DC, DC/DC, and DC/AC converter and rectifier systems that supply stable DC power to industrial electrochemical processes, including chlor-alkali electrolysis, aluminum and copper refining, and green hydrogen production via electrolysis. FRIEM ranks among the top four global producers of current rectifiers for large industry and has delivered more than 3,000 converters with combined capacity exceeding 20 GW to customers in over 80 countries. Headcount is reported at 100-120+ employees at the 11,000 sq meter Segrate facility, with FY2024 production value of €54.5 million (4.3% YoY growth; EBITDA up ~10% vs. FY2023).

The product portfolio centers on three proprietary technology platforms: HyRec Scale (thyristor-based rectifiers capable of powering multiple electrolyzers at up to 60 MVA per PSU), HyCon Station (multi-level IGBT inverters with Active Front End technology eliminating the need for additional filters), and the DRP 7.0 digital current regulator (0.1% regulation accuracy, compatible with both thyristor and diode rectifiers). Multi-pulse 6/12-pulse rectifier configurations are used for high-power applications requiring reduced harmonic distortion. The hydrogen-focused line delivers turnkey Power Supply Units compatible with Alkaline, PEM, and SOEC electrolyzer technologies, with a stated backlog exceeding 300 MW for green hydrogen projects.

FRIEM operates a project-based B2B enterprise sales model with custom-engineered systems priced per specification, multi-year contracts, and no publicly disclosed list pricing. Revenue streams comprise one-time hardware sales of converter systems, after-sales service and revamping contracts, and spare parts and upgrade sales. The company goes to market through direct field sales supported by wholly-owned regional subsidiaries in Italy, Germany (since May 2024), Chile (since May 2024), Brazil, the United States (DynAmp), and the Middle East (Dubai, opening 2026), with a network of local partners providing after-sales support. In June 2026 the company consolidated FRIEM, its 2025 majority acquisition of Poseico, and DynAmp under a unified FRIEM Group platform.

Name

Friem

Legal name

Friem S.p.A.

Website

https://friem.com

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

51–100 employees

Short description

FRIEM S.p.A. is an Italian manufacturer founded in 1950 that designs and produces high-power AC/DC, DC/DC, and DC/AC converter and rectifier systems for industrial electrolysis, green hydrogen production, and metal refining, serving heavy-industry clients across 80+ countries.

Ownership category

akta.pro rank

Product category

Industrial Power Conversion Equipment

NAICS

Electrical Equipment Manufacturing (3353), Power, Distribution, and Specialty Transformer Manufacturing (335311)

SIC

Electrical Industrial Apparatus (3620), Power, Distribution & Specialty Transformers (3612), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

High-Voltage & High-Power Conversion (HVDC supplies, traction/rail converters, large rectifiers) (IMAGADAH)

akta.pro secondary industries

Power Conversion Systems for Storage & Charging (PCS, bidirectional inverters, DC/DC) (IMAGAHAE), DC/DC Converters & Battery Interface Power Electronics (EUAFAIAD), AC-DC Power Supplies (Industrial PSUs, DIN-rail, enclosed/open-frame) (IMAGADAA)

Keywords

• Industrial power conversion
• High-power rectifiers
• Green hydrogen electrolysis
• Chlor-alkali converters
• Metal refining rectifiers

Headquarters

HQ city

Milano

HQ country

Italy

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Power Converter Systems: Sale of high-power converters and rectifier systems for industrial applications including green hydrogen production, chlor-alkali, aluminum refining, and copper production. Custom-engineered solutions for large-scale industrial plants.
2. After-Sales Service & Support: Comprehensive service offerings including installation supervision, commissioning, maintenance, remote assistance 24/7, revamping services, and training for rectifier systems of any brand.
3. Spare Parts & Upgrades: Supply of replacement components and system upgrades including control section, power section, and cooling section upgrades for existing rectifier installations.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

FRIEM designs, manufactures, and services high-power industrial power conversion systems — AC/DC, DC/DC, and DC/AC rectifiers and converters — primarily for green hydrogen production via electrolysis, chlor-alkali electrolysis, and non-ferrous metal refining (aluminum, copper). Offerings include thyristor and IGBT-based rectifier product lines (HyRec Scale, HyCon Station, Hydue Station), digital regulators (DRP 7.0), and full Power Supply Units for electrolyzer installations, supported by a global after-sales service organization.

Product overview

FRIEM is a global leader in industrial power conversion technology, operating since 1950. The company offers a comprehensive portfolio of high-power converters and rectifiers (AC/DC, DC/DC, DC/AC systems) for industrial applications including hydrogen production, metal refining (aluminum, copper), chlor-alkali electrolysis, and chemical processing. The product portfolio centers on the High-power Converters line and Hydrogen Solutions (Power Supply Units for electrolysis), supported by the DRP 7.0 Digital Regulator for precision control and FRIEM Service for lifetime customer support. Key product lines include HyRec Scale (thyristor-based rectifiers), HyCon Station (IGBT-based multi-level converters), and Hydue Station (multi-pulse rectifiers). FRIEM has delivered over 3,000 converters with total capacity exceeding 20 GW, and recently formed FRIEM Group integrating Poseico and DynAmp for vertically integrated power conversion.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 0.1% regulation accuracy with DRP 7.0 digital regulator
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• PoseicocoreStrategic or Co-development Partner · 5 September 2025FRIEM acquired majority stake in Genoa-based Poseico, a company specializing in high-current converters and semiconductors. This acquisition supports FRIEM's growth plans and innovation in power conversion technology for industrial applications.
• Regione Lombardia (PR FESR 2021-2027)minorOthers · 7 May 2025FRIEM received EU funding through PR FESR Lombardia 2021-2027 for digital transformation project. The project focuses on automation and digitalization of business processes through implementation of a Corporate Performance Management (CPM) platform.
• DynAmpcoreOthers · 28 May 2024DynAmp is a U.S. company that is part of FRIEM's North American operations, included in the subsidiary network alongside FRIEM's sales office and production plant in the USA.
• McPhycoreStrategic or Co-development Partner · 9 October 2023Strategic partnership for supply of Power Supply Units (PSU) for green hydrogen production. FRIEM supplies three PSUs (2MW and 4MW) for McPhy's Paris region hydrogen production facility for taxi fleet, plus rectifier systems for McPhy's Italian test room in San Miniato. The cooperation supports McLyser 400 and McLyser 800 range electrolyzers with transformer and rectifier units.
• ITS Lombardia MeccatronicaminorOthersPartnership with ITS Lombardia Meccatronica for scholarship program supporting young talent in mechatronics. FRIEM funded a scholarship awarded at the ITS Convention for promising young professionals.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Nidec Industrial Solutions: Nidec Industrial Solutions (formerly Ansaldo Sistemi Industriali) produces high-power converters, drives, and rectifiers for metals, mining, and energy applications. Direct competitor in the chlor-alkali and metals rectifier market where FRIEM operates.
• Ingeteam: Ingeteam manufactures power electronics and converters for renewable energy and hydrogen electrolyzer applications, with strong presence in European and Latin American markets. Closely comparable to FRIEM's HyRec/HyCon product lines and green hydrogen focus.
• AEG Power Solutions: AEG Power Solutions specializes in industrial AC/DC and DC/AC power conversion, UPS, and rectifier systems for industrial, energy, and rail applications. Highly comparable product portfolio and customer segments to FRIEM's industrial converter business.
• Spang Power Electronics: Spang Power Electronics designs and manufactures industrial power conversion equipment including rectifiers and DC power supplies for metals, chlor-alkali, and emerging hydrogen applications. Closely matched niche player competing in many of FRIEM's core verticals.

Broad incumbents

• ABB: ABB is a global power and automation leader offering rectifiers, power conversion systems, and grid integration solutions across industrial, hydrogen, and metals markets. Directly competes with FRIEM on electrolyzer PSUs and chlor-alkali rectifiers, but at vastly larger scale.
• Siemens Energy: Siemens Energy provides grid-scale power conversion and is increasingly active in electrolyzer system integration. Competes with FRIEM for large-scale industrial and hydrogen power supply contracts as part of a broader energy portfolio.
• Schneider Electric: Schneider Electric offers industrial power conversion, motor control, and increasingly targets hydrogen and electrification markets. Competes with FRIEM in industrial electrification though across a much broader product portfolio.
• GE Vernova Power Conversion: GE Vernova's Power Conversion business supplies high-power industrial drives, rectifiers, and grid-tie power electronics for metals, marine, and energy sectors. Overlaps with FRIEM's heavy industrial rectifier offerings at utility and industrial scale.

Others

• McPhy Energy: McPhy is a leading electrolyzer manufacturer and a key FRIEM customer. Not a direct competitor but a strategic adjacent player — their purchasing decisions materially impact FRIEM's hydrogen backlog and represent a customer-channel dependency.

Emerging players

• Cummins Accelera: Cummins' Accelera segment develops electrolyzer systems and power electronics for hydrogen production. Adjacent competitor with growing in-house power conversion capability that could either partner with or compete against FRIEM in the electrolyzer PSU market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/friem-s-p-a-

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Friem