PtX Development
PtX Development GmbH is a Berlin-based private developer of industrial-scale green hydrogen production sites, centered on the Project Lubmin electrolysis platform in Germany, which targets up to 1.7 GW capacity and serves industrial off-takers seeking to decarbonize production processes.
- Company typePrivate
- Founded-
- HeadquartersBerlin, Germany
- Headcount1–10
- GTM typeB2B
- OfferingServices
What PtX Development does
PtX Development GmbH is a Berlin-based private German project developer (GmbH) that initiates and develops industrial-scale green hydrogen production sites. Its core offering is the development and operation of large-scale electrolysis facilities — primarily the Project Lubmin site in Mecklenburg-Western Pomerania — with planned electrolysis capacity of up to 1.7 GW following the April 2026 acquisition of a majority stake in Lhyfe's adjacent project, and a potential annual green hydrogen output of up to 160,000 tonnes. The company is structured around a single asset-platform model: a wholly-owned subsidiary, PtX Objekt Lubmin GmbH, holds the site development vehicle.
The business model is B2B enterprise sales of green hydrogen to industrial off-takers via long-term supply contracts, targeting manufacturing and mobility customers seeking to replace fossil feedstocks and meet decarbonization targets. Revenue is generated through hydrogen sales on a transactional per-unit basis; pricing is not publicly disclosed. The go-to-market relies on direct enterprise engagement rather than channel partners, supported by a corporate website, newsroom, and inquiry forms. No retail or consumer distribution is in use.
Execution is delivered through a tightly integrated partner ecosystem rather than purely internal capabilities. GP Joule serves as both co-founder/shareholder and strategic technology and project management partner; KGAL is the financial partner that underwrites project construction financing and co-acquired the Lhyfe stake; and Lhyfe remains the operator/developer of the production facilities on site. Strategic co-founders include Dr. Alan Cadmus (Managing Director), Thorsten Krauß (serial infrastructure entrepreneur), and Ove Petersen (CEO of GP Joule), with additional senior leadership added in 2025 (Konstantin Faller, ex-Vattenfall). The company is currently pre-revenue, with the 210 MW Phase 1 of the Lubmin plant financed but not yet reported as commercially operational.
PtX Development firmographics
Firmographics- Name
- PtX Development
- Legal name
- PtX Development GmbH
- Website
- https://ptx-development.de
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- PtX Development GmbH is a Berlin-based private developer of industrial-scale green hydrogen production sites, centered on the Project Lubmin electrolysis platform in Germany, which targets up to 1.7 GW capacity and serves industrial off-takers seeking to decarbonize production processes.
- Ownership category
- akta.pro rank
PtX Development industry classification
Industry- Product category
- Green Hydrogen Production
- NAICS
- Chemical Manufacturing (325)
- akta.pro primary industry
- Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending (EUAJAJAF)
- akta.pro secondary industries
- Hydrogen (Industrial & Mobility) (IMAEACAB), Hydrogen Pipeline Construction, Conversion & Rehabilitation (Repurposing NG Pipelines) (TLAGAGAI), Renewable Energy Industrial Facilities Construction (Solar, Wind, Storage) (IMAFADAD)
Keywords
Where PtX Development is headquartered
LocationHeadquarters
- HQ city
- Berlin
- HQ country
- Germany
- HQ region
- Europe
Offices2 records
Markets served
PtX Development business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D
Revenue model
- Green Hydrogen Sales: Production and sale of green hydrogen to industrial customers for decarbonization applications. Revenue generated through long-term hydrogen supply agreements with industrial off-takers.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
PtX Development product offering
Product offeringCore offering
PtX Development GmbH initiates and develops industrial-scale green hydrogen production sites in Germany. Its core project, Project Lubmin, involves constructing a large-scale electrolysis facility in Mecklenburg-Western Pomerania with planned capacity of up to 1.7 GW and potential annual green hydrogen production of up to 160,000 tonnes. The company supplies industrial customers with green hydrogen under long-term agreements to enable decarbonization of industrial production and climate-neutral mobility.
Product overview
PtX Development GmbH is an initiator and developer of industrial green hydrogen production sites. The company operates a single focused portfolio centered on the Project Lubmin facility, which includes a subsidiary entity (PtX Objekt Lubmin GmbH) managing the site. The core offering consists of large-scale electrolysis-based hydrogen production with planned GW-scale capacity targeting industrial decarbonization needs.
Differentiator
Problem solved
Functional benefit
Products and services
- Project Lubmin Large-scale green hydrogen production facility under development at the Lubmin hydrogen hub in Mecklenburg-Western Pomerania, Germany. The project delivers green hydrogen to industrial off-takers for decarbonization of production processes and climate-neutral mobility, with planned electrolysis capacity of up to 1.7 GW and annual production of up to 160,000 tonnes after expansion.
- Industrial Hydrogen Site Development Initiator and developer service for industrial green hydrogen production sites, providing reliable supply of green hydrogen for industrial production and climate-neutral mobility applications through large-scale electrolysis facilities.
Quantifiable outcome
- Up to 160,000 tonnes of green hydrogen annually
- +2 more outcomes
Companies that use PtX Development
Customer profileSegments1 record
Ideal customer profiles1 record
PtX Development technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
PtX Development partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- GP JoulecoreGP Joule develops, builds, and operates renewable energy projects and provides comprehensive support to PtX Development in technology, project management, and is also a shareholder in the Lubmin project. GP Joule generates and markets wind and solar power, green hydrogen, and heat.
- Lhyfe SAcoreLhyfe SA is the operator and developer of the green hydrogen production facilities at the Lubmin site. Following the acquisition of majority stake by PtX Development and KGAL, Lhyfe remains committed to the site as developer and operator of the facilities.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
PtX Development competitors and assessment
Company assessmentEmerging players
- ITM Power: UK-based electrolyzer and green hydrogen project developer operating multi-MW to multi-hundred-MW projects across Europe. Comparable technology stack and project-development business model.
- Everfuel A/S: Danish green hydrogen producer developing production-to-distribution assets in Northern Europe. Comparable regional peer targeting industrial and mobility customers with electrolyzer-based hydrogen.
- Nel ASA: Norwegian electrolyzer manufacturer and project developer pursuing large-scale green hydrogen plants in Europe. Comparable as a hydrogen production pure-play with utility-scale project ambitions.
Broad incumbents
- TotalEnergies: Global integrated energy major with multi-gigawatt hydrogen ambitions across Europe. Comparable as a competitor in industrial-scale hydrogen supply and infrastructure projects.
- Iberdrola: Spanish utility with major green hydrogen project pipeline in Europe and strong renewable-energy sourcing capability. Comparable as an integrated renewable-to-hydrogen developer competing for the same industrial off-takers.
- Siemens Energy: Global energy equipment OEM with a dedicated hydrogen business (electrolyzers, Silyzer). Comparable as a supplier and project partner in large-scale green hydrogen buildouts in Germany and Europe.
- Plug Power: US-listed green hydrogen producer and fuel cell company building out European hydrogen production assets. Comparable end-customer base in industrial decarbonization and mobility.
- Shell Hydrogen: Major oil and gas major operating European green hydrogen projects (e.g., NortH2, REFHYNE). Comparable as a deep-pocketed competitor for industrial hydrogen offtake and EU-funded project slots.
Direct peers
- Lhyfe SA: French green hydrogen producer and operator of the Lubmin project now majority-owned by PtX/KGAL. Directly comparable as a green hydrogen site developer with electrolyzer-based production for industrial off-takers.
Others
- H2 Green Steel: Swedish green steel developer that will be one of the largest off-takers of green hydrogen in Europe. Comparable as a participant in the same hydrogen-offtake ecosystem and decarbonization value chain.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
PtX Development social profiles
Digital presencePtX Development financial estimates
Financial estimateRevenue estimate
Valuation estimate
PtX Development leadership team
Management profileNumber of profiles
Profiles5 records
PtX Development subsidiaries and ownership
Company hierarchySubsidiaries1 record
PtX Development funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PtX Development M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PtX Development
What does PtX Development do?
PtX Development GmbH initiates and develops industrial-scale green hydrogen production sites in Germany. Its core project, Project Lubmin, involves constructing a large-scale electrolysis facility in Mecklenburg-Western Pomerania with planned capacity of up to 1.7 GW and potential annual green hydrogen production of up to 160,000 tonnes. The company supplies industrial customers with green hydrogen under long-term agreements to enable decarbonization of industrial production and climate-neutral mobility.
Is PtX Development a public or private company?
PtX Development is a private company. It is classified as venture growth investor backed and is currently operating.
When was PtX Development founded?
PtX Development was founded in -1. It employs 1 to 10 people.
Where is PtX Development based?
PtX Development is headquartered in Berlin, Germany, in the Europe region.
How does PtX Development make money?
One revenue line is on record: green Hydrogen Sales.
Who are PtX Development's main competitors?
Emerging players on record are ITM Power, Everfuel A/S and Nel ASA. Broad incumbents are TotalEnergies, Iberdrola, Siemens Energy, Plug Power and Shell Hydrogen. Lhyfe SA is listed as a direct peer. H2 Green Steel is listed as an others.
Does PtX Development have an API?
No public API is recorded for PtX Development.
What industry is PtX Development in?
PtX Development's product category is Green Hydrogen Production. Its primary akta.pro industry code is EUAJAJAF, Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending, with a secondary code of IMAEACAB, Hydrogen (Industrial & Mobility). Its NAICS code is 325.