The National Council of Austria recently passed the Hydrogen Funding Act (WFöG), allocating EUR 820 million to support the production of renewable hydrogen. This funding aims to increase the share of renewable hydrogen in Austria and align with the country's climate neutrality goals. The subsidies will be awarded through competitive auctions from 2024 to 2026, encouraging the construction and operation of new hydrogen production plants on Austrian territory. Additionally, several European countries, including Germany, France, and Italy, have collaborated on the IPCEI Hy2Infra project, investing billions to expand hydrogen infrastructure. This project covers the installation of electrolysers, construction of pipelines, development of storage facilities, and building transshipment terminals, contributing to the hydrogen value chain. The EU Commission's approval of the project highlights its significance in driving investments and providing a repayment mechanism for successful ventures. The Austrian WFöG, alongside the European initiatives, reflects a positive sentiment towards hydrogen as a key component of future energy systems. However, challenges lie ahead in addressing legal issues, compliance with EU regulations, and navigating funding contracts. The article emphasizes the importance of setting clear guidelines for the implementation of funding and accelerating the development of hydrogen infrastructure to establish a competitive market position in the energy sector.