Germany's state-backed Power-to-X (PtX) Development Fund, managed by KGAL and based in Berlin, aims to support mature renewable hydrogen and derivatives projects to advance environmental and social development goals. Recently awarding €30mn to a €500mn Egyptian project producing renewable ammonia, the fund plans to help unlock investments for similar projects. Round 2 of the fund, running from 8 January to 5 March 2025, expands to include countries like South Africa, Brazil, Morocco, Kenya, India, Egypt, and the new addition of Colombia. Projects supported by the fund are expected to have capital costs ranging from €100mn to €500mn, focusing on impactful greenhouse gas emission reduction, coal replacement, job creation, and 'just transition'. The fund also emphasizes adherence to World Bank and IFC standards for environmental and social impact assessments. Developers are encouraged to prioritize electrolysis technology, economic viability, local offtakers, and sustainability principles, as the fund's approval serves as a positive signal to future financiers. The fund's first round revealed key lessons on project maturity, impact assessment importance, and technology focus, aiming to drive the PtX industry towards sustainable and economically viable projects.