In Germany, PtX Development GmbH, an initiator and site developer of industrial sites for hydrogen production and KGAL, an independent investment and asset manager, have signed a financing agreement for the construction of one of Germany's largest hydrogen production plants at the Hydrogen-Hub in Lubmin, Mecklenburg-Western Pomerania.
The announcement was made on September 24, 2024, by PtX Development at the WindEnergy trade fair in Hamburg. The parties have agreed not to disclose the amount of the investment.
The hydrogen plant is a large-scale electrolysis plant with an electrolysis capacity of 1.05 GW and an annual hydrogen production of around 100,000 tonnes.
By comparison, the sustainable electrolysis capacity in the whole of Germany today is less than 1 GW.
When completed, the plant will make a significant contribution to the reliable supply of large quantities of green hydrogen to industry, significantly reducing carbon dioxide (CO2) emissions.
Lubmin is a unique project. The site is one of the central hubs for the development of the hydrogen economy in Germany. The industry’s demand for green hydrogen is very high and will continue to rise sharply. The realization of our project in Lubmin is therefore essential for the German and European economy, said Dr Alan Cadmus, Managing Partner of PtX Development.
The first construction phase will realize an output of 210 MW. PtX Development has secured the site for the project and the collaboration of integrated energy supplier GP JOULE as the project developer.
The company has been active in the hydrogen business since 2012 and is one of its pioneers. GP JOULE is also a shareholder in PtX Development.
GP JOULE’s vision is 100 percent renewable energy for all. We have the space and the technologies in Europe to produce enough green energy here. On-site hydrogen production plays a key role in integrating this energy into the energy system of the future. It allows enormous amounts of renewable electricity to be collected, converted, and utilized independently of time. In Lubmin, we are working with KGAL and PtX Development to show how it can be done, explained Ove Petersen, CEO and co-founder of GP JOULE.
Ideal conditions in Lubmin
According to the company, the conditions in Lubmin are ideal for the production and commercialization of green hydrogen.
Several companies are working to build electrolysis plants on the site of the former Greifswald nuclear power station, which will become Germany’s largest hydrogen hub.
One of the key assets is direct access to the planned German hydrogen core network, the starting point of which is located on the neighbouring site –Gascade’s FLOW project, which will be operational from 2025 and will provide access to the entire 9,700 km network, will start there.
The capacity of the pipeline significantly exceeds the potential volumes of hydrogen produced in Lubmin.
We are delighted that we have been able to secure the site and clarify the fundamental feasibility of the project. With KGAL and GP JOULE, we have two strong partners at our side to realize the project successfully and quickly, said Frank D. Masuhr, Co-Managing Director at PtX Development.
Also, there is sufficient access to green energy via the transformer station of the transmission system operator 50 Hertz, in particular to the offshore wind farms that are directly connected to the transformer station.
Together with the hydrogen core network, Lubmin will make a significant contribution to the decarbonization of the German economy. This is impact investment at its best. Professional partners are of the utmost importance for such an early-stage investment. PtX Development and GP JOULE convinced us with their strategic vision and track record, said Thomas Engelmann, Head of Energy Transition at KGAL.
