CMS advises PtX Development on the acquisition of a majority stake in a hydrogen project by Lhyfe in Lubmin

Berlin – PtX Development GmbH, in partnership with the investment and asset manager KGAL, has acquired a majority stake in a hydrogen project run by Lhyfe SA at the Lubmin site (Mecklenburg-Western Pomerania).

The acquired project forms part of one of the most dynamic hydrogen hubs in Germany. Through this transaction, PtX Development, in partnership with KGAL, is securing additional land covering over ten hectares, significantly expanding the site’s development capacity. In the long term, this will enable the expansion of electrolysis capacity to up to 1.7 gigawatts and a potential annual production of up to 160,000 tonnes of green hydrogen.

A CMS team led by Dr Gerd Leutner supported PtX Development throughout all stages of the transaction – from legal structuring and due diligence to drafting, negotiating and signing the agreement.

With this acquisition, PtX Development is strengthening its position as a leading developer of large-scale hydrogen projects in Germany. At the same time, the company is continuing to expand its presence in the strategically important location of Lubmin, which is regarded as one of the key hubs of the future hydrogen economy thanks to its direct links to offshore wind energy, existing energy infrastructure and the planned core hydrogen network.

As a long-term investor, KGAL is contributing extensive experience in energy and infrastructure investments and supporting the financing and scaling of the project. Lhyfe SA remains committed to the site as an experienced developer and operator of green hydrogen production facilities.

The aim is to meet the long-term industrial demand for green hydrogen – particularly from the steel, chemical and refining industries – and to make a significant contribution to the decarbonisation of energy-intensive sectors.

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