Support the development of one of Europe’s most advanced green hydrogen plants – featuring 380 MW of electrolysis capacity and delivering over 2 million tonnes of CO₂ avoided by 2030.
UN Sustainable Development Goals
The investment at a glance
This project is a co-funding initiative with the crowdfunding platform WIWIN. This means that the project is offered simultaneously on both bettervest and WIWIN. A total of €2 million is to be raised in several tranches. The figures in the text refer to the entire project.
This project is a co-funding initiative with the crowdfunding platform WIWIN. This means that the project is offered simultaneously on both bettervest and WIWIN. A total of €2 million is to be raised in several tranches. The figures in the text refer to the entire project.
Project intent
The German company Eternal Power GmbH, award winner of the 2025 German Sustainability Award in the fuel industry category, is developing one of Europe’s most advanced and scalable green hydrogen production plants with its flagship project in Dummerstorf, Mecklenburg-Vorpommern.
The project is designed as a large-scale industrial platform for the production of green hydrogen exclusively from renewable energy sources. Green hydrogen is widely regarded as a strategic decarbonisation lever and a critical substitute for fossil fuels across energy-intensive industries, mobility, and industrial manufacturing, positioning the project at the core of Europe’s energy transition.
Eternal Power aims to finance the continued development and scaling of the Dummerstorf core project (Phases I & II), while also supporting selected pipeline projects in the green hydrogen and e-methanol segments. This approach enables portfolio diversification, long-term value creation, and risk-adjusted growth within the rapidly expanding hydrogen economy.
The Dummerstorf project targets the build-out of up to 380 MW of electrolysis capacity, implemented through a phased investment strategy:
Dummerstorf I (Phase I):
The initial investment phase comprises the construction of an 80 MW electrolysis plant on approximately 3.5 hectares in the district of Rostock. From 2029, the facility is expected to generate up to 8,500 tonnes of green hydrogen per annum, establishing an early revenue base and validating the industrial-scale business model.
Dummerstorf II (Phase II):
The expansion phase increases capacity by an additional 300 MW, elevating the project to one of the largest hydrogen developments in Europe. Upon full ramp-up, annual production volumes of up to 30,000 tonnes of green hydrogen are anticipated, unlocking significant economies of scale and margin expansion potential.
With the Dummerstorf project, Eternal Power is creating the foundation for a scalable, competitive, and bankable hydrogen production platform, while strengthening Germany’s position as a leading energy and industrial hub and delivering measurable climate impact alongside attractive long-term investment prospects.
Social & Economic Impact
The expansion of modern hydrogen infrastructure and its integration into national backbone-network provides the foundation for future-proof industrial development. As a key enabling technology, green hydrogen supports the decarbonisation of energy-intensive industries while simultaneously enhancing the competitiveness of Germany as an industrial location. In this context, Eternal Power GmbH makes a meaningful contribution to sustainable industrialisation, drives technological innovation, and supports the transition toward a resilient, climate-friendly economy.
Climate protection
The planned hydrogen plant in Dummerstorf is expected to deliver annual CO₂ savings of approximately 72,000 tonnes during the first project phase. Following the implementation of the second expansion stage, annual savings are projected to increase to around 338,000 tonnes of CO₂. By the end of the plant’s planned operating period in 2030, the project is expected to avoid more than 2 million tonnes of CO₂ emissions in total, representing a decisive step toward achieving Germany’s climate targets and advancing the sustainable transformation of the energy sector.
Established, sustainable company
Eternal Power GmbH is an independent project developer with the vision of decarbonising Europe’s industrial base through economically viable and technologically leading green hydrogen solutions. Founded in 2021, the company aims to build a portfolio of execution-ready projects exceeding 5 GW of electrolysis capacity by 2035, leveraging technology openness, strong local integration, and the development of bankable, long-term sustainable projects.
Eternal Power is led by an experienced management team with deep expertise across energy, infrastructure, regulation, and finance. The management team holds an equity stake in the company, ensuring strong alignment of interests with investors. Supported by institutional and strategic investors, the company benefits from a solid capital base as well as access to international markets, public funding programmes, and industrial offtakers.
With development activities in Northern Germany, Sweden, and overseas, Eternal Power advances projects across the entire hydrogen value chain and is a recipient of the 18th German Sustainability Award in the fuel industry category.
Risk reduction measures
As this investment is structured as a subordinated bond, it is neither secured by collateral nor backed by pledged assets. Investor claims are subordinated to other liabilities and will be serviced only after senior obligations have been satisfied. The bond is subject to financial market regulation.
Bonus
In addition to an annual interest rate of up to 9.0% p.a., a bonus interest payment of 2.0% p.a. may apply if one or both of the following milestones are achieved:
1) Final Investment Decision (FID) for Project Phase I
2) A company valuation of at least EUR 50 million for Eternal Power GmbH as part of a new financing round
The bonus interest is calculated retroactively over the entire term and paid together with the regular interest payment, resulting in a potential total interest rate of up to 11.0% p.a.
(For more information, see the "Financing and Repayment" section)
Project description
The project developed by Eternal Power GmbH for the construction of a large-scale green hydrogen production plant aims to significantly advance the decarbonisation of European industry and to actively contribute to the energy transition in Germany.
Green hydrogen is widely regarded as one of the key energy carriers for a climate-neutral future. It enables the replacement of fossil fuels in industry and heavy-duty transport, particularly in the steel, chemicals, and transport sectors and therefore makes a significant contribution to the reduction of CO₂ emissions. The European steel industry, in particular, is among the most carbon-intensive sectors, making green hydrogen a critically needed climate-friendly alternative.
This is precisely the potential leveraged by Eternal Power.
With the Dummerstorf project in Mecklenburg-Vorpommern, the company is developing one of Europe’s most advanced green hydrogen production plants. The hydrogen will be produced exclusively from renewable energy sources, and the project is structured in two development phases, together targeting an electrolysis capacity of up to 380 MW.
Phase I
In the first phase (Dummerstorf I), an 80 MW facility will be constructed on approximately 3.5 hectares in the district of Rostock, with commissioning planned from 2029. This project represents the most advanced asset of the issuer and forms the core asset of the investment. The feasibility study was completed in 2023, followed by the completion of the Pre-FEED study (concept development phase) in the first quarter of 2025.
From 2029, the plant is expected to produce up to 8,500 tonnes of green hydrogen per year. Electricity supply will be sourced entirely from renewable energy, including wind and solar power, secured via long-term Power Purchase Agreements (PPAs). The site benefits from a highly attractive location, including proximity to offshore wind farms and a confirmed connection to the 110 kV high-voltage grid, supported by a written grid access commitment. Water supply and wastewater disposal are also contractually secured.
In addition, an offtake term sheet with an industrial buyer is already in place. Physical delivery is planned via the German hydrogen core network, which is scheduled to be operational at the site in 2028. Through the deployment of modern electrolysis technologies, the project is expected to achieve annual CO₂ savings of approximately 72,000 tonnes.
Phase II
The second project phase (Dummerstorf II) will expand site capacity by an additional 300 MW of electrolysis capacity. Building on the existing site, this phase will create one of the largest and most advanced green hydrogen plants in Europe, with planned production volumes of up to 30,000 tonnes of hydrogen per year and annual CO₂ savings of around 266,000 tonnes. The project is currently in the conceptual development and Pre-FEED phase, with commissioning targeted for 2030.
The bond proceeds are intended to finance the continued development of the Dummerstorf core project (Phases I & II) as well as selected pipeline projects in the fields of green hydrogen and e-methanol.
With the Dummerstorf flagship project, Eternal Power is laying the foundation for a scalable and competitive green hydrogen production platform while simultaneously strengthening Germany’s industrial base. The project combines technological innovation with regional value creation and makes a substantial contribution to the development of a robust hydrogen economy.
The project developed by Eternal Power GmbH actively contributes to three of the United Nations Sustainable Development Goals (SDGs):
SDG 7 – Affordable and Clean Energy
Eternal Power develops projects for the production of green hydrogen based on renewable energy sources such as wind and solar power. In doing so, the company makes a direct contribution to increasing the share of renewables in the global energy mix and to providing a clean, secure, and sustainable energy supply.
SDG 9 – Industry, Innovation and Infrastructure
By developing modern and sustainable infrastructure, particularly through integration into hydrogen backbone networks, Eternal Power supports the creation of a future-oriented industrial base. These projects promote sustainable industrialisation, strengthen technological innovation, and establish the foundation for the comprehensive decarbonisation of energy-intensive industries.
SDG 13 – Climate Action
Eternal Power’s projects make a substantial contribution to reducing CO₂ emissions by replacing fossil energy carriers with green hydrogen and e-methanol. The company therefore supports the large-scale implementation of climate action measures, particularly in high-energy–demand sectors such as steel, chemicals, and shipping.
Die geplante Wasserstoffanlage in Dummerstorf wird in der ersten Projektphase jährlich rund 72.000 Tonnen CO₂ einsparen. Mit der Umsetzung der zweiten Ausbaustufe steigt die jährliche Einsparung auf insgesamt etwa 338.000 Tonnen CO₂. Bis zum Ende der vorgesehenen Laufzeit der Anlage im Jahr 2030 können so über 2 Millionen Tonnen CO₂-Emissionen vermieden werden. Ein entscheidender Schritt zur Erreichung der deutschen Klimaziele und zur nachhaltigen Transformation des Energiesektors.
As this investment is structured as a subordinated bond, it is neither secured by collateral nor backed by pledged assets. Investor claims are subordinated to other liabilities and will be satisfied only after senior obligations have been met.
Investment Requirement
With a bond volume of EUR 750,000, Eternal Power GmbH intends to finance the continued development of its large-scale hydrogen project Dummerstorf in Mecklenburg Vorpommern. The proceeds of the issuance will be used at the level of Eternal Power GmbH to fund the ongoing operational activities of project development, with a particular focus on the advanced project phases Dummerstorf I and II, as well as the further expansion of the company’s international project pipeline in the field of green hydrogen and its derivatives.
The term of the bond began on February 1, 2026 (including) and ends on Augut 1, 2029 (including).
Investors receive an annual interest rate of up to 9.0% p.a.
The funding threshold for this project is EUR 50,000.
Bonus Interest
In addition, a bonus interest of up to 1.0% p.a. is granted for each of the following milestones, provided that one
or both are achieved:
• Final Investment Decision (FID) for the Dummerstorf Phase I project: This milestone represents the issuer’s final investment decision once all key conditions –such as full financing, permits, and investor approvals –have been fulfilled and the project formally enters the execution phase.
• A pre-money company valuation of at least EUR 50 million for Eternal Power GmbH as part of a new financing round. The bonus interest is granted retroactively for the entire term of the bond and paid together with the regular interest payment.
Repayment
Bond repayment will be made from the current and future revenues of Eternal Power GmbH. These include, in particular, proceeds from project development activities, equity participations in hydrogen projects, revenues from partnerships and financing rounds, as well as operating cash flows generated by the company’s growing project portfolio.
The repayment of the invested capital will take place annually, starting with the first repayment on August 1, 2027, in the amount of 14,2857%. In the following year, a further 14,2857% of the nominal amount will be repaid, payable on August 1, 2028. The remaining outstanding balance will be fully repaid on August 1, 2029 (for further details, please refer to the Basisinformationblatt)
Interest Payments
The bonds will bear interest at a rate of up to 9.0% per annum on their nominal amount, starting on August1, 2026, until maturity or until any early termination. An interest period generally comprises one calendar year and ends on January 31 of each year. Subject to subordination and the pre-insolvency enforcement restriction, as well as any ordinary termination, interest is payable annually in arrears on August 1 of each year (“Interest Payment Date”).
The first interest payment is due on August 1, 2027, and the final interest payment is due on August 1, 2029. If the issuer fails to pay interest on the Interest Payment Date despite its due date, interest will continue to accrue until the date of actual payment.
"Green hydrogen is now where solar and wind energy were 20 years ago: at the beginning of a sharp reduction in production costs, which will come about as a result of production scaling and project implementation. Those who invest today are not only helping to shape the energy transition, but are also becoming part of a future market with enormous growth potential."
Dr. Moritz Schwencke
The Borrower and Country Profile
Eternal Power GmbH
Haynstraße 33
20249 Hamburg
Deutschland
Contact
https://eternal-power.de/
+49 (0)151 180 21 245
contact@eternal-power.de
Eternal Power – Project Owner and Issuer
Eternal Power GmbH is among the young and fast-growing project developers in the European hydrogen market. The company plans, develops, and structures projects across the entire hydrogen value chain –from site identification and feasibility assessments to the planning of hydrogen production plants and the commercialisation of green molecules for industrial offtakers or downstream derivatives such as e-methanol.
Current activities focus on locations in Northern Germany, Sweden, and overseas, which offer favourable conditions for green molecule production due to their strong infrastructure, including grid access, pipeline connectivity, and access to renewable energy sources. Eternal Power works closely with local stakeholders, including authorities, municipalities, grid operators, and renewable energy providers. Through this approach, the company has rapidly established itself as a leading developer of green hydrogen projects.
As the issuer, Eternal Power consolidates the capital raised and deploys it for the continued development of its hydrogen projects—particularly the advanced project cluster in Dummerstorf (Mecklenburg-Vorpommern). No additional business activities outside the field of project development are planned.
Strategic Cooperation
In 2025, the company announced a strategic cooperation with a subsidiary of the listed PEM electrolyser manufacturer ITM Power. Together, the partners aim to develop a Hydrogen-as-a-Service model designed to address and resolve current challenges in the implementation of industrial hydrogen projects.
Corporate Structure, Management and Investor Base
Eternal Power is led by an experienced team of professionals. The management combines extensive expertise in energy, infrastructure, regulation, and finance (see organisational structure). The company is further supported by institutional and strategic investors who provide additional capital and access to relevant markets.
Project Ownership in Dummerstorf
For the Dummerstorf Phase I & II project cluster, Eternal Power acts as both developer and owner of the respective project companies. Project development follows a modular and clearly structured process, ranging from technical studies and infrastructure planning through preparation of the Final Investment Decision (FID).
Sustainability Award
Eternal Power is among the recipients of the 18th German Sustainability Award in the fuel industry category. With this award, the jury recognised the Hamburg-based company’s dynamic development from a young innovation-driven enterprise to a Europe-wide relevant player in industrial decarbonisation. The official award ceremony took place in December 2025 in Düsseldorf.
When making investment decisions, it is advisable to find out about the project location in advance, especially the country in which the project is to be implemented. To get an overview, the following indicators offer a helpful starting point for your own research. The information was taken from the relevant data sources in January 2026 and is published without guarantee.
INDICATOR | REVIEW GERMANY |
Euler Hermes Ranking | Euler Hermes has assessed the risk of non-payment by German companies as “low risk” and rated it AA1 on a scale from AA to D (Source: Euler Hermes Country Risk Map). |
Corruption index (Transparency International) | The Corruption Perceptions Index published by Transparency International, measured on a scale from 0 (high level of corruption) to 100 (no perceived corruption), stands at 75 for Germany (source: Transparency International 2024). |
Commercial Bank Prime Lending Rate | The Commercial Bank Prime Lending Rate indicates the average annualized interest rates charged by local commercial banks to their most creditworthy customers for new loans in the local currency. In Germany, the Commercial Bank Prime Lending Rate was 3.94% in October 2025 (source: Trading Economics 2025). |
Credit score (Moody’s) | Moody’s has rated the creditworthiness of German government bonds Aaa on a scale from Aaa to D, thereby classifying them as “stable” (source: Trading Economics 2024). |
Foreign exchange market (Bundesbank) | Over the past five years, the euro exchange rate against the US dollar has fluctuated: five years ago it stood at USD 1.22130, one year ago at USD 1.05750, and currently (January 2026) at USD 1.17 (source: Bundesbank 2025) |
Key figures
| Borrower | Eternal Power GmbH |
| Investment type | Bond |
| Loan volume | EUR 375,000 |
| Original Term | 3 Years, Due Date: 31.07.2029 |
| Return | up to 9.0% p.a. (up to 11% p.a. upon achievement of both predefined milestones) |
| Amortization and interest payment | Amortization: Partial Amortizing Interest: Anually |
