A development equity raise for a 1+ GW electrolyser project being built on the site of a decommissioned nuclear power plant in Lubmin, Germany. The project is in an early stage of development and needed a co-investor to fund upcoming development expenses.
Project Faraday was a development equity raise for an early-stage electrolyser project located in Lubmin, along Germany’s Baltic Sea coast.
The project will be constructed in phases on the site of a decommissioned nuclear power plant and have direct access to Germany’s H2 backbone infrastructure. The first phase comprises 210 MW of capacity, and eventually the project will reach 1,050 MW.
Much of the planned development expenses for the whole project (i.e. the full 1+ GW) will be borne during the first phases of the project and PtX Development needed a partner to help fund these expenses.
Thus, the objective of the mandate was to find such a partner to help PtX Development advance the project and bring one of Germany’s key H2 project one step closer to completion.
GGA was pleased to have support our client in identifying KGAL GmbH & Co as the most suitable partner to bring this forward.
