The European Hydrogen Bank (EHB) is gearing up for its second, more substantial green hydrogen auction, aiming to address the challenges faced during the previous auction. The EHB is introducing stricter responsibilities and tighter deadlines for financial closure, along with new limits on using Chinese products. The terms of the upcoming auction will help reduce the gap between production costs and consumer prices. Lessons from the first auction, where €720 million was awarded to seven projects, have led to adjustments in payment guarantees, project timelines, and restrictions on Chinese product usage. The IF24 auction will run from December to February, with a budget of €1.2 billion, including dedicated funds for maritime sector projects. There is a focus on supporting European energy transition industries, with a maximum of 25% of electrolyzers allowed from China to promote local manufacturing and job creation. New sustainability requirements mandate green hydrogen production using renewable electricity to align with EU net-zero goals. The auction also emphasizes cybersecurity, safety standards, and electrolyzer procurement strategies. Overall, the EHB's efforts aim to create a robust green hydrogen market, particularly in the maritime sector, and drive the European energy transition towards cleaner sources.