€1.2bn available for second EHB auction: €200m reserved for the maritime sector

The European Commission has confirmed that €1.2bn ($1.29bn) will be available for the second auction of the European Hydrogen Bank (EHB).

The second budget represents a €400m ($430m) increase from the previous auction, with €200m ($215m) reserved for off-takers in the maritime sector, excluding traders and intermediaries, according to the Commission.

The EU Innovation Fund’s total budget available for calls in 2024 will be €4.8bn ($5.1bn), including the EHB. The first auction saw renewable hydrogen producers bid for funding support from emissions trading revenues through the Innovation Fund delivered in the form of a fixed premium per kg of hydrogen for up to 10 years.

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