The European Hydrogen Bank's second auction for renewable hydrogen projects in the European Economic Area (EEA) has seen significant interest, with 61 bids from 11 countries requesting over EUR 4.8 billion in grant support. The slow growth in green hydrogen adoption in Europe contrasts with the EU's ambitious plans to lead in decarbonization efforts. Despite challenges, the auction aims to create a European market for clean hydrogen by providing public funding to investors. The auction results are expected by May, with projects set to contribute to Europe's climate neutrality goals. The Innovation Fund plays a crucial role in supporting the development of renewable hydrogen projects, with selected beneficiaries receiving funding over a maximum of ten years. The auction's success reflects industry interest in clean hydrogen and its potential to reduce emissions in hard-to-abate sectors. The upcoming rounds are set to further boost hydrogen projects, with the European Commission planning additional auctions and support for net-zero technologies and energy storage systems.