Former EnBW CEO Frank Mastiaux joins Eternal Power as Senior Advisor

(Hamburg, November 1, 2022). The hydrogen scale-up Eternal Power has signed energy manager Frank Mastiaux as Senior Advisor. With immediate effect, the former CEO of EnBW Energie Baden-Württemberg AG will support the Hamburg-based company to become one of the world's leading, fully integrated producers of green hydrogen. "With his expertise and experience in the energy sector, Frank Mastiaux is an enormous asset for Eternal Power. The fact that we were able to convince him of our vision encourages us in our strategic direction," says Robert Meitz, co-founder of Eternal Power. Frank Mastiaux adds: "Green hydrogen is a fundamental pillar for the global path to net-zero. It will develop into a global market of substantial size. I am pleased to join Eternal Power's experienced team in building the business in this market. In particular, their integrated approach of covering the entire value chain represents a strategic success factor for Eternal Power."

Drawing on his many years of in-depth experience in the energy business, Mastiaux will advise the Eternal Power management team on the development of global value chains. He will be actively involved in the expansion of international production sites as well as in strategic and organizational topics, thereby helping to shape the development of Eternal Power. Mastiaux  holds a PhD in chemistry and was considered an expert in the field of renewable energies well before the Paris Climate Agreement and the gas crisis. During his ten-year tenure as CEO at EnBW, he grew the energy supplier into one of the pioneers of the energy transition. Prior to this position, Mastiaux established and expanded the renewable energy business unit at E.ON, having previously held several management positions during 15 years of tenures at international companies in the oil and gas industry. 

Eternal Power covers the entire value chain for green hydrogen and its derivatives such as ammonia or methanol and aims to become one of the world's leading producers for this climate-friendly energy source. This involves securing land for suitable production sites, as well as electrolysis, logistics and the delivery to the customer. The scale-up is working to make green hydrogen competitive. "From 2026 onwards, Eternal Power will be producing green hydrogen and thereby contributing to Germany's and Europe's energy independence as well as to achieving climate neutrality of the industry and economy. Especially for sectors that are difficult to decarbonize, such as the steel and chemical industries or shipping, green hydrogen is the energy carrier of the future," as co-founder Moritz Schwencke explains. Eternal Power's venture is also about a race against time: "Every day that we don't move forward with projects is one more day of fossil fuel dependency. Consequently, agility, competence and networking are advantages that we as Eternal Power can bring to this race," says Schwencke. This is also an appeal to the responsible policymakers in Berlin and Brussels to ensure investment security quickly and unbureaucratically.