The European Commission has announced the selection of 15 renewable hydrogen production projects across the European Economic Area (EEA) for significant public funding. These projects, spread across five countries, are projected to generate nearly 2.2 million tonnes of renewable hydrogen over a ten-year period, effectively avoiding over 15 million tonnes of CO₂ emissions. The hydrogen production will cater to various sectors like transportation, the chemical industry, methanol, and ammonia production. The selected projects will collectively receive €992 million in EU funding from the Innovation Fund, sourced from the EU Emissions Trading System (ETS). The objective of this financial boost is to support these projects in overcoming cost barriers and accelerate the deployment of cleaner fuels. This initiative ultimately aims to reduce the reliance on natural gas, coal, and oil in hard-to-decarbonise industries and transportation sectors, contributing to enhanced energy independence and promoting the decarbonisation of European industry. Twelve of the selected projects are committed to producing renewable hydrogen with fixed premium support ranging from €0.20 to €0.60 per kilogramme. Notably, for the first time, the auction included a specific budget for hydrogen producers catering to the maritime sector. These initiatives received grants totaling €96.7 million, with production costs varying between €0.45 and €1.88 per kilogramme. Moreover, Spain, Lithuania, and Austria are set to provide up to €836 million in national funding for projects within their territories through the 'Auctions-as-a-Service' feature. The purpose of this allocation is to support projects that meet the auction criteria but fall outside the Innovation Fund's budgetary limitations, facilitating additional project funding. The selected projects will now proceed to establish grant agreements with the European Climate, Infrastructure and Environment Executive Agency (CINEA), with agreements expected to be finalized by September/October 2025. These projects are mandated to achieve financial closure within two and a half years post-signature and commence renewable hydrogen production within five years. The European Commission plans a third European Hydrogen Bank auction by the end of 2025 with a budget of up to €1 billion.