The European Commission has initiated the second auction under the European Hydrogen Bank, part of the Innovation Fund IF24, to allocate €1.2 billion to support Renewable Fuel of Non-Biological Origin (RFNBO) producers in the European Economic Area. This auction, which began on December 3, 2024, and will end on February 20, 2025, reflects a substantial increase in budget compared to the previous one. The new auction will fund renewable hydrogen production projects irrespective of their sector, with a significant focus on projects in the maritime sector. Additionally, an 'Auctions-as-a-service' mechanism has been introduced to allow Member States to support projects that were not selected due to budget constraints. Spain, Lithuania, and Austria have already committed up to €836 million in national funds for renewable hydrogen production. The success of the first auction, which saw 132 bids from 17 European countries and the awarding of funding to seven projects, has set a positive precedent for the continued support and growth of the hydrogen sector in Europe.