The European Commission has launched a new mechanism to support the development of the hydrogen market within Europe. The mechanism aims to provide clarity on the market situation for both off-takers and suppliers, facilitating interactions between them to accelerate investments. By collecting and processing information on demand, supply, hydrogen flows, and prices, the mechanism intends to enable European off-takers to align with suppliers, both domestic and international. This initiative, part of the recently-adopted Decarbonized Gases and Hydrogen Package, will operate for five years under the European Hydrogen Bank. The mechanism includes the development of an IT platform to enhance operations. European officials highlight the critical role of hydrogen in achieving the EU's clean energy transition and maintaining competitiveness. The regulatory framework aims to establish a fully functioning hydrogen market by 2030, providing legal certainty and setting targets for renewable hydrogen in various sectors. The EU is also working on defining low-carbon hydrogen and supporting hydrogen supply chain projects. With significant investments and state aid approved for IPCEIs in the hydrogen value chain, the EU aims to unlock private investments and boost the clean hydrogen value chain. Various supportive measures are in place to accelerate the growth of hydrogen projects, develop infrastructure, and promote hydrogen application in industries. The European Commission's efforts involve supporting hydrogen infrastructure, investments, and establishing the European Hydrogen Bank to drive hydrogen project investments and value chain establishment across Europe.