The European Commission has initiated the development of a pilot mechanism to boost the European hydrogen market. This mechanism is designed to accelerate investments by providing transparency on market conditions for both off-takers and suppliers and facilitating connections between them. The aim is to collect, process, and provide access to information on demand and supply for renewable and low-carbon hydrogen and its derivatives, allowing European off-takers to match with suppliers from Europe and beyond. The mechanism will also gather and process market data on hydrogen flows and prices. To support this initiative, a procurement process has been launched to find a service provider for developing an IT platform to operate the mechanism. The Commission plans to finalize the contract by the end of the year to commence operations by mid-2025. This mechanism, established under the Decarbonized Gases and Hydrogen Package, is set to run for five years as part of the European Hydrogen Bank. Furthermore, the EU has implemented a regulatory framework to promote a fully functional hydrogen market by 2030. This framework includes market rules to offer legal certainty and long-term visibility to investors along the hydrogen value chain. The revised Renewable Energy Directive has introduced targets for renewable hydrogen in industry and transport sectors. The Commission is actively involved in the development of hydrogen infrastructure and related investments. It has set up the European Hydrogen Bank to stimulate investments in hydrogen projects and facilitate the establishment of a complete hydrogen value chain in Europe. Notably, there are currently 254 renewable hydrogen projects in the EU, with a substantial amount of investment directed towards these projects from various sources. The European Commission has also approved State aid for key projects in the hydrogen value chain. These projects are expected to attract significant private investment and cover various aspects of the clean hydrogen value chain, including production, storage, transmission, distribution, and application in industrial sectors. Additionally, the Commission is supporting the integration of hydrogen projects through its Hydrogen Valleys Innovation Mission, with numerous valleys globally, including in Europe, being part of this initiative.