KGAL has been commissioned to manage the PtX Development Fund, which promotes green hydrogen projects in developing and emerging economies, on behalf of German KfW Bankengruppe.
The PtX (or Power-to-X) Development Fund, which is financed by the German Federal Ministry for Economic Cooperation and Development (BMZ), will provide financial support for public organizations and private companies to develop the green hydrogen value chain. KGAL said 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 additional financing options activated via KfW Bankengruppe’s PtX platform, the total investment for these projects is in the billions, according to KGAL.
“The hydrogen revolution, in which green hydrogen replaces fossil fuels, is getting under w