The hydrogen industry in Europe is undergoing a significant transformation, moving past a challenging period marked by bankruptcies and divestitures. Recent announcements of substantial European funding showcase a new phase of consolidation around industrial groups capable of handling economic challenges. While facing technological hurdles and high costs, the sector is receiving support from the European Union to stabilize the supply chain and boost industrial projects. Initiatives like the venture between H2V and Hy2gen aim to produce sustainable aviation fuel, while companies like Lhyfe are securing financing for renewable hydrogen projects. Large-scale initiatives in Germany, the Netherlands, and Denmark highlight the commercial potential of hydrogen in various sectors, including public transport. Despite difficulties like the liquidation of McPhy and Safra's takeover, the industry is evolving to become more competitive and stable. Economic challenges, particularly related to high electricity costs, are being addressed through innovative models to stabilize hydrogen production costs. The European Commission's plan to increase financial support signifies a strategic focus on leveraging the hydrogen sector for industrial growth and energy independence, positioning Europe competitively on a global scale.