The European Hydrogen Bank (EHB) has made progress in funding projects through its pilot auction, with six out of seven projects signing grant agreements. The projects in Spain, Portugal, Finland, and Norway aim to produce green hydrogen to meet industry demands. While most projects secured subsidies to support their production costs, one project, Benbros Energy, decided to withdraw from the grant agreement process, impacting the total funding amount. Notably, awards were granted to projects like MadoquaPower2x's 500MW initiative in Portugal and Renato P2X's 480MW venture in Spain, showcasing a significant commitment to green hydrogen production. Despite concerns about the effectiveness of subsidies in offsetting high costs, these projects are vital steps in establishing a green hydrogen supply chain in Europe. With strict deadlines and production targets in place, developers are under pressure to deliver on their promises and contribute to the growth of renewable energy sources on the continent.