The European Hydrogen Bank has announced the results of its second auction, allocating €992 million to 15 projects in the EU to produce 2.2 million tonnes of renewable hydrogen over ten years. This initiative aims to mitigate 15 million tonnes of CO2 emissions, promoting cleaner energy solutions across various sectors. The projects, spanning industries like transport, chemicals, methanol, and ammonia production, have been strategically chosen to receive funding that will help offset production costs and drive market competitiveness for renewable hydrogen. Noteworthy is the emphasis on supporting projects in Spain, Germany, the Netherlands, and Finland, with the largest endeavors concentrated in Germany and the Netherlands. The positive market response to these projects indicates a growing interest in renewable hydrogen production and its environmental benefits. Additionally, a new 'Auctions-as-a-Service' scheme by Spain, Lithuania, and Austria will further boost clean investments by providing substantial funding and setting stringent timelines for project development and hydrogen production commencement. Overall, these developments signal a significant step towards advancing sustainable energy practices and reducing carbon footprints in the EU.