About ADA

Not to Participate.
Built for It.

ADA was not founded to participate in the energy transition. It was built to industrialise it — with the equity access, origination capability, and commercial discipline the scale of the opportunity demands.

Founded 2023  ·  Rotterdam, The Netherlands

Why ADA Exists

The infrastructure
gap is the
opportunity.

Demand exists. Policy is in place. Capital is available. The only thing missing is the infrastructure that converts renewable electricity into the molecules hard industry actually needs. ADA was built to provide exactly that.

30%
Global emissions that cannot be electrified
Steel, cement, fertilisers, shipping, aviation — the world's most essential industries run on molecules. Green P2X products are the only credible pathway to decarbonise them.
1 GW
Electrolyser pipeline under development
Active across three regions, with PPAs secured on multiple projects and long-term offtake frameworks in place with global industrial buyers.
$3B+
Energy assets financed by founding partners
ADA's founding partners bring a combined track record exceeding $3B in energy assets financed across more than 13 countries — the credential that unlocks the capital stack.
What It Takes

P2X at scale requires
more than technology.

Developing Power-to-X infrastructure is not an engineering problem. The technology exists. The challenge is assembling the specific combination of origination capability, commercial relationships, capital access, and operational discipline that turns a project concept into a molecule-producing asset.
01
Demand-first origination
Most P2X developers begin with technology and search for demand. ADA begins with a defined offtake requirement and builds the project around it. Offtake certainty precedes every investment decision.
02
Commodity market depth
Green molecules are traded commodities. Long-term offtake structuring, pricing, and logistics require expertise that most infrastructure developers do not have. ADA's platform was built with this capability at its core.
03
Multi-jurisdictional execution
South America, North Africa, and Southeast Europe each have distinct regulatory, environmental, and commercial frameworks. ADA's team has active land, permitting, and stakeholder positions in all three — not theoretical presence.
04
Proven project finance track record
Institutional capital for P2X infrastructure requires credibility that new entrants cannot demonstrate. ADA's founding partners provide it — with more than $3B in closed energy financings across 13+ countries.
05
Technology agnosticism
No vendor dependency. No molecule preference. Each ADA project selects the optimal electrolyser technology and output pathway for its specific resource profile, market, and offtake structure.
The Joint Venture

Two partners.
One platform.
Built to execute.

Founded 2023  ·  Rotterdam, The Netherlands

ADA is a joint venture between ERIH Holdings and PASH Global. The partnership was not assembled for convenience — it was engineered around a specific thesis: the two capabilities most critical to P2X success at scale are infrastructure origination and commodity market access. ERIH Holdings brings the first. PASH Global brings the second.
Founding Partner
ERIH Holdings
Energy Infrastructure & Project Origination
ERIH Holdings is an international energy infrastructure group with a 20-year track record of developing and financing renewable energy assets across more than 13 countries. ERIH brings ADA its project development engine — the origination networks, regional relationships, and permitting capability that moves projects from concept to financial close.
20+ years of energy development and asset management
Active origination presence in South America, North Africa & Southeast Europe
Renewable energy project finance track record
Land, permits, PPAs and regulatory expertise across ADA regions
EPC, FEED and technical development capabilities
Founding Partner
PASH Global
Commodity Markets & Capital Access
PASH Global is an energy and commodities platform backed by Galena Asset Management. PASH brings ADA the commercial infrastructure that transforms a development project into a bankable asset: deep offtake relationships, commodity market expertise, and access to institutional capital at the scale green molecule markets require.
Access to global commodity trading networks and pricing intelligence
Long-term offtake relationships with industrial buyers across molecule categories
Institutional capital access and project finance structuring capability
Export credit and development finance relationships across key jurisdictions
Strategic positioning in global green molecule supply chains

The combination no single partner could replicate alone.

Infrastructure developers without commodity depth cannot close offtake. Commodity houses without origination capability cannot build projects. ADA was structured to combine both — creating a platform with a structural advantage over single-capability competitors in every market it enters.

13+
Countries of combined development experience
6
P2X molecule pathways across the platform
20+
Years combined energy infrastructure track record
$3B+
Energy assets financed by founding partners
Management

The team behind
the platform.

ADA's leadership combines decades of experience across energy project development, commodity markets, infrastructure finance, and industrial decarbonisation. The team is built for execution — not advisory — with direct accountability for origination, development, and commercial delivery across all active regions.
Akin Gunduz
Akin Gunduz
Chairman & Chief Executive Officer
Founding partner of ERIH Holdings and co-founder of ADA. Two decades of executive experience in energy, finance, and industrial development across three continents. Previously at IEG, GE, and Generali Group. MBA, Pforzheim / NTU Singapore; MA Economics, Heidelberg.
LinkedIn
Kofi Owusu-Bempah
Kofi Owusu-Bempah
Vice Chairman & Chief Investment Officer
Co-founder of ADA and PASH Global. Leads ADA's investment strategy, transaction structuring, and project financing. Former international energy and infrastructure lawyer. Has closed over 2 GW of renewable energy projects across major international lenders since 2009. LLB, King's College London.
LinkedIn
Feti Goker
Feti Goker
Chief Operating Officer
15+ years in mining and renewable energy across Africa, Turkey, and the Balkans. Leads ADA's commercial strategy, business development, and regional stakeholder engagement. Geological Engineer (BSc & MSc, Istanbul University).
LinkedIn
Ahmed Khattab
Ahmed Khattab
Chief Technology Officer
Leads ADA's technology strategy and engineering execution across green hydrogen and Power-to-X projects. 10+ years in power systems and renewable energy, with projects across North Africa and Sub-Saharan Africa. MSc Electrical Engineering (Renewable Energy), Alexandria University. Former roles at Mantrac Group and NISCOM Consulting.
LinkedIn
Sergio Mineiro
Sergio Mineiro
Managing Director, South America
Leads ADA's Paraguay operations and green hydrogen project development. 20+ years in energy infrastructure and industrial operations. PMP certified. MBA, Universidad Americana; Postgrad in Green Hydrogen, PUC Chile.
LinkedIn
Jack Muthomi
Jack Muthomi
Managing Director, Sub-Saharan Africa
Leads ADA's project origination and partnerships across Sub-Saharan Africa, based in Nairobi. Co-founder of Nyika Hydropower Group (80 MW pipeline). 20+ years in energy development, hydro, hydrogen, and agribusiness investment. MBA, JKUAT.
LinkedIn
The ADA Spirit

How we think.
How we work.

ADA is not a fund or a consultancy. It is a builder. Every decision — commercial, technical, regional — is made through a single lens: does this create a project that delivers green molecules at industrial scale, on time, and under signed long-term agreements?

Principle 01
Demand before capital
No ADA project begins with a technology or a financing structure. It begins with an identified industrial buyer and a defined molecule requirement. Offtake certainty is the foundation everything else is built on.
Principle 02
Long-term over opportunistic
ADA is not building projects to flip them at development stage. The platform is structured for full-cycle asset ownership — origination through operation — because that is where the value of P2X infrastructure is realised.
Principle 03
Integrated execution
Origination, development, financing, and offtake are not separate workstreams at ADA. They run in parallel, led by the same platform, in every market. This integration compresses timelines and removes the execution gaps that derail most P2X projects.
Principle 04
Commercial discipline
Green molecule production must be competitive — not just clean. ADA's project economics are stress-tested against real offtake pricing, real capital costs, and real operating assumptions. We do not build projects that require subsidies to survive.
Principle 05
First-mover commitment
The P2X markets ADA is entering are not yet crowded. We move decisively, secure early positions, and defend them with speed of execution. In infrastructure, the first project permitted in a region defines the competitive landscape for a decade.
Principle 06
Responsibility as standard
Every ADA project is developed with the communities, environments, and governance frameworks of its region as non-negotiable starting conditions — not considerations to be managed after the fact.
Vision
A world where the molecules that industry, agriculture, and transport depend on are derived from renewable energy — not fossil fuels.
Mission
To originate, develop, and operate Power-to-X infrastructure that converts renewable electricity into the industrial molecules the world's hardest sectors cannot do without.
Approach
Demand-first origination. Integrated development. Long-term asset ownership. Commercial discipline at every stage. No shortcuts. No advisory. Only execution.
Sustainability

The transition
is the product.

ADA's business model and its sustainability impact are not separate things. Every tonne of green hydrogen ADA produces displaces fossil-derived hydrogen. Every molecule delivered under a long-term offtake agreement replaces an emission. Sustainability is not a commitment we make alongside our work — it is the work.
Direct Impact
Industrial decarbonisation at the source
ADA's projects supply green molecules directly to the industries responsible for the most intractable emissions on the planet. Every project that reaches operation represents a permanent displacement of fossil-derived inputs — at industrial scale, under long-term contracts, across multiple decades of production.
ESG Standards
Embedded from origination, not added at close
ADA's development framework applies environmental, social, and governance standards from the moment a site is identified — not at the point of financing. This includes biodiversity screening, community engagement protocols, local employment commitments, and full social licence requirements aligned with international development finance standards.
Finance Alignment
Capital structured for responsible infrastructure
ADA's capital structure is designed to attract export credit agencies and development finance institutions whose mandates require projects to meet rigorous environmental and governance standards. Meeting these requirements is not a box-ticking exercise — it is central to how ADA's projects are financed and how they operate.
Food & Water Security
Green molecules that go beyond energy
ADA's fertiliser and agricultural molecule pathways connect the energy transition directly to food security. Replacing fossil-derived ammonia in nitrogen fertilisers reduces dependence on energy-price-linked food production costs — and supports agricultural resilience in the regions where ADA operates.
Get in Touch

The right
conversation
starts here.

ADA's commercial and development relationships are active across all three regions. If you represent an industrial offtaker, a co-development opportunity, or institutional capital looking to participate in P2X infrastructure at scale — this is where to begin.

Reach us at info@adap2x.com

Offtake
Industrial offtake enquiries
For steel producers, fertiliser groups, shipping companies, airlines, and commodity traders seeking long-term green molecule supply agreements aligned with 2030–2040 decarbonisation commitments.
Development
Co-development & technology partnerships
For electrolyser manufacturers, EPC contractors, grid and PPA developers, and regional co-developers with origination assets or complementary capabilities in ADA's active regions.
Capital
Institutional capital & investment
For infrastructure equity funds, development finance institutions, export credit agencies, and sovereign investors seeking participation in P2X asset development at project or platform level.