Press release by the Commission, Spain, Lithuania and Austria on the European Hydrogen Bank's ‘Auctions-as-a-Service' scheme, increasing the funding for clean investments

The European Commission, Spain, Lithuania and Austria announce new financial support totaling around €2 billion for renewable hydrogen development through the Innovation Fund’s ‘Auctions-as-a-Service’ scheme. The three Member States will deploy over €700 million in national funds (Spain: €280-400M, Lithuania: €36M, Austria: €400M) alongside €1.2 billion in EU funding to support renewable hydrogen production projects in their respective countries.