A plate type heat exchanger consists of corrugated metal plates clamped together in a frame. Fluids flow between the plates, which have a high surface area and induce turbulence, allowing for efficient heat transfer. Key advantages are compact size, ability to handle low flow rates, and the option to perform multiple duties with one unit. Design involves selecting the number and dimensions of plates based on flow rates, properties of the fluids, and heat transfer correlations or manufacturer charts.