KGAL won internationally tendered mandate to manage PtX Development Fund

KGAL has won an internationally tendered mandate to manage KfW’s PtX Development Fund for the promotion of green hydrogen.

The PtX Development Fund, funded by the German Federal Ministry for Economic Cooperation and Development (BMZ), supports public entities and private firms in developing the green hydrogen value chain. It primarily targets developing economies with favorable conditions for green hydrogen production. The fund finances industrial projects involving the production, transportation, storage, utilization, and further processing of green hydrogen. Collaborating with KfW Bankengruppe’s PtX platform, the projects' total investment reaches billions. The PtX Development Fund aims to accelerate the market adoption of green hydrogen, aiding global economic decarbonization. Simultaneously, it promotes socio-ecological economic transformation in developing nations. KGAL plays a significant role in this responsible endeavor.