The European Commission has launched the second European Hydrogen Bank auction to boost the renewable hydrogen sector with a budget of approximately €1.2 billion. Producers can bid for a fixed-price premium of up to €4 per kilogram of hydrogen produced over 10 years. The auction includes a General basket of €1 billion and a new Maritime basket of €200 million. Additional funding from EU Member States such as Austria, Spain, and Lithuania brings the total Bank firepower to around €2 billion. The eligibility criteria now include restrictions on sourcing from China and compliance with safety standards. Projects face stricter requirements, including reaching a final investment decision within 2.5 years and an increased completion bond. However, there is a lack of visibility on future auctions, creating uncertainty for the sector. The Innovation Fund Call 2024 allocates €3.4 billion to support clean energy projects, including the General Innovation Fund Call and the Battery-Specific Call. Enhancements like the grants-as-a-service model and the STEP seal aim to attract additional funding and recognize high-quality projects. The deadlines for applications are in April 2025. Jorgo Chatzimarkakis, CEO of Hydrogen Europe, praises these initiatives as crucial for advancing the hydrogen sector and clean energy goals but emphasizes the need for clearer guidance on future Hydrogen Bank auctions to facilitate efficient project planning.