The European Commission has approved the 'IPCEI Hy2Move' project to support research, innovation, and the first industrial deployment in the hydrogen value chain, focusing on mobility and transport applications. The project, jointly prepared by seven EU Member States, aims to contribute to the EU's target of reducing emissions from the mobility and transport sectors by 90% to achieve climate neutrality by 2050. With an investment of €1.4 billion in public funding from the Member States, the project is expected to stimulate an additional €3.3 billion in private investments, supporting 13 innovative projects by 11 companies, including SMEs and start-ups. The scope of IPCEI Hy2Move includes developing hydrogen technologies for various transport means such as road, maritime, and aviation, as well as advancing high-performance fuel cell technologies for ships and locomotives. Additionally, the project focuses on creating lightweight yet robust hydrogen storage solutions for aircraft and developing technologies for hydrogen production for mobility and transport applications. The European Commission's assessment concluded that the project meets the required conditions set out in its communication on Important Projects of Common European Interest. By filling the gap in private initiatives that support breakthrough innovation, the IPCEI rules enable Member States to collectively overcome market failures. The project also involves significant technological and financial risks, justifying the need for public support to incentivize investments. Overall, the IPCEI Hy2Move is viewed positively as it aligns with the EU's State aid rules, contributes to key strategic value chains such as the European Green Deal and the EU Hydrogen Strategy, and demonstrates ambitious goals for technological advancement in the hydrogen sector. The project's success is expected to generate positive spill-over effects for the European scientific community and industry, promoting innovation and sustainability in the region.