The European Commission has initiated the second auction of the European Hydrogen Bank (EHB) to provide subsidies for green hydrogen production. With a budget of €1.2 billion, an increase of €400 million from the first auction, the EU aims to accelerate the domestic production base of green hydrogen. Producers of renewable hydrogen will receive €1 billion in subsidies as a fixed premium over a maximum term of ten years, irrespective of their target markets. Moreover, €200 million will be specifically allocated to projects focused on the maritime sector. Successful bidders in the auction are expected to sign grant agreements within nine months after its closure, fostering stability and long-term growth in the green hydrogen sector. This initiative reflects the European Union's commitment to promoting sustainable energy sources and reducing carbon emissions.