The European Commission has approved up to €1.4 billion in State aid by seven Member States for the fourth Important Project of Common European Interest (IPCEI) in the hydrogen value chain. The project, named 'IPCEI Hy2Move,' aims to advance research, innovation, and the initial industrial deployment of hydrogen technologies to support the EU's target of reducing emissions from mobility and transport sectors by 90% and achieving climate neutrality by 2050. This initiative aligns with the European Green Deal, the EU Hydrogen Strategy, and the Sustainable and Smart Mobility Strategy. The IPCEI Hy2Move project involves 11 companies from seven Member States and focuses on various aspects of the hydrogen technology value chain, including the development of mobility and transport applications, high-performance fuel cell technologies, on-board storage solutions for hydrogen, and technologies for hydrogen production. By unlocking €3.3 billion in private investments, the project will drive innovation in hydrogen technology for various transport means like road, maritime, and aviation. The completion of the IPCEI is targeted for 2031, with expected job creation and positive spill-over effects throughout Europe. The European Commission's approval was based on the project's contribution to common EU objectives, its ambitious technologies and processes, the necessity of public support due to financial risks, and the adherence to EU State aid rules ensuring minimal distortion of competition. The project's outcomes will be shared with the wider scientific and industrial community, fostering innovation and progress in the hydrogen sector.