Germany's state-backed Power-to-X (PtX) Development Fund, managed by KGAL, is ramping up in its second round to support mature renewable hydrogen projects worldwide. The fund aims to drive investments in renewable hydrogen and derivatives, such as power-to-X projects, to contribute to environmental and social development goals. In the first round, the fund awarded €30mn to an Egyptian project that will produce renewable ammonia, setting the stage for similar grant agreements in the future. The fund has specific criteria for eligible projects, including compliance with EU state aid law, feasibility, technical readiness, source of renewable power, and a profitable business model. Projects must demonstrate positive environmental and social impacts, greenhouse gas emission reduction, and job creation in the country. Lessons learned from the first round include the importance of clarifying the fund's objectives, conducting thorough environmental and social impact assessments, and focusing on electrolysis technology. The fund seeks to support projects that align with World Bank and International Finance Corporation standards, ensuring sustainability and compliance with renewable power principles. With a focus on international cooperation and sustainable development, Germany's PtX Fund aims to support projects that drive positive change in the renewable energy sector and contribute to a greener future.