Energy Observer's EO2 project, aimed at building the world's largest liquid hydrogen-powered cargo ship, has received significant support from the European Union's Innovation Fund with a grant of €40 million. The project, initiated in 2022, focuses on creating a demonstration ship that will be the world's lowest carbon-emitting cargo vessel. The vessel, named EO2, is envisioned as a 160-meter containership with a carrying capacity of 1,100 TEU. It will be equipped with an electric propulsion system powered by hydrogen fuel cells, developed by EODev and Toyota, with a range of 14 days traveling 1,600 nautical miles. The project estimates a reduction of 112,250 tons of CO2 emissions over a decade. The venture, with an estimated total investment exceeding €100 million, aims to kick off commercial operations by 2029 on Europe's Atlantic and Channel coasts. Various notable companies, such as Accor, CMA CGM, and Toyota, have contributed to the project, showcasing collective efforts towards innovation and sustainability in the maritime industry. Ultimately, the project aspires to validate the technical and economic feasibility of utilizing liquid hydrogen for maritime transport, thereby bolstering Europe's position as a leader in the adoption of clean energy technologies.