The European Commission has awarded €720 million across a 10-year horizon to 7 renewable hydrogen projects through the inaugural auction of the European Hydrogen Bank, funded by EU Emissions Trading System revenues under the Innovation Fund. The main takeaways from the results are: • The auction was oversubscribed with a total of 132 bids requesting over 15 times the available €800 million budget • The 7 successful projects will receive a fixed premium of €0.37 to €0.48 per kilogram of renewable hydrogen produced, well below the €4.50/kg ceiling • Only 4 of the 17 European countries involved were awarded the subsidy, ... (full story)