The European Commission has unveiled initiatives to accelerate the deployment of innovative decarbonisation technologies and boost renewable hydrogen production in the European Economic Area (EEA). With a total budget of €4.6bn, funded by the Innovation Fund and EU Emissions Trading System revenues, these efforts aim to enhance the resilience and competitiveness of European industry. The €2.4bn IF24 Call supports diverse decarbonisation projects, including those related to renewable energy, energy storage, heat pumps, and hydrogen production. Additionally, the €1bn IF24 Battery call seeks to advance electric vehicle battery cell manufacturing through innovative techniques. Furthermore, the Commission's partnership with the European Investment Bank involves a €200m loan guarantee for investments in the EU's battery manufacturing sector. The second auction of renewable hydrogen, with a budget of €1.2bn from ETS revenues, will fund producers of Renewable Fuel of Non-Biological Origin in the EEA. This auction aims to boost renewable hydrogen production, allocating €1bn for general use and €200m for projects in the maritime sector, contributing to the transition towards a greener economy.