The broad expertise and strategic concept tipped the scales in the tender: KGAL has been commissioned to manage the PtX Development Fund on behalf of German KfW Bankengruppe, one of the world’s leading promotional banks. This fund promotes green hydrogen projects in developing and emerging economies.
The PtX Development Fund (PtX stands for Power-to-X), financed by the German Federal Ministry for Economic Cooperation and Development (BMZ), will provide financial support for public organisations and private companies to develop the green hydrogen value chain. This fund is primarily aimed at developing and emerging economies where the conditions for green hydrogen production are particularly good. The funding will flow into industrial projects for the production, transport, storage, use and further processing of green hydrogen. With further financing options activated via KfW Bankengruppe’s PtX platform, the total investment for these projects is in the billions.
The PtX Development Fund aims to push the market ramp-up of green hydrogen and thus contribute to the decarbonisation of the global economy. At the same time, the PtX Development Fund promotes a socio-ecological economic transformation in developing and emerging economies. KGAL is a powerful partner for this responsible task.
Read the full press release at the link below