In a significant move to advance net-zero technologies and renewable hydrogen production, the European Commission has announced investments totaling €4.6 billion. The Commission's focus is on fostering the competitiveness of European industries while aligning with climate goals. The funding, sourced from the EU Emissions Trading System (ETS) through the Innovation Fund, includes two calls for proposals worth €3.4 billion to accelerate innovative decarbonisation technologies, particularly in electric vehicle batteries. Additionally, the European Hydrogen Bank's second auction will receive funding of €1.2 billion from EU funds and additional contributions from three Member States to boost renewable hydrogen production in the European Economic Area. The initiatives aim to bolster Europe's leadership in cutting-edge net-zero technologies and support the transition to climate neutrality by 2050. They incorporate resilience criteria to safeguard against dependency on a single supplier and emphasize projects that reduce greenhouse gas emissions, demonstrate innovation, and ensure cost efficiency. Furthermore, the calls create opportunities for Member States to enhance funding through the 'Grants-as-a-Service' option. A specific €1 billion call is dedicated to electric vehicle battery cell manufacturing, aimed at promoting innovative technologies and manufacturing processes. The Commission seeks to stimulate investments in this crucial area for Europe's clean energy transition. Further collaboration with the European Investment Bank (EIB) involves a €200 million top-up to the InvestEU program to support innovative projects in the EU's battery manufacturing sector, addressing financing obstacles. Moreover, the Commission's efforts extend to supporting renewable hydrogen production, with the new auction allocating €1.2 billion to producers of Renewable Fuel of Non-Biological Origin (RFNBO) within the EEA. The increased budget includes provisions for hydrogen consumption across sectors and in the maritime industry. Notably, the 'Auctions-as-a-Service' mechanism enables Member States to back projects that were not selected for Innovation Fund support. Project promoters have specific deadlines to apply for funding, and successful applicants are expected to sign grant agreements within the specified timelines. The Commission's proactive steps reflect a commitment to drive innovation, sustainability, and industrial competitiveness in the EU, marking a significant stride towards a greener and more technologically advanced future.