The German government is setting up two new funds with a total of 550 million euros to support the development of the global hydrogen economy through cooperation, especially with emerging and developing countries. The development ministry will make available 250 million euros for the PtX Development Fund, which will promote hydrogen investments in these countries.
Additionally, the economy ministry is setting up the PtX Growth Fund with 300 million euros. This will support companies in Germany and is intended to accelerate the global market ramp-up and infrastructure for green hydrogen as a whole. The funds will promote projects along the entire value chain that will be administered by the state-owned development bank KfW.