Green hydrogen final investment decision (FID) momentum is accelerating, setting up 2025 as a potential turning point, ITM Power CEO Dennis Schulz told investors.
Having logged revenues of £15.5m ($19.3m) in H1 FY25, up 183% year-on-year, and reduced its EBITDA 7% to -£16.8m (-$20.9m), the UK electrolyser maker believes it is in “pole position” to capture demand thanks to its operational changes and continued cost reductions.
With a £135.3m ($168.4m) order backlog – up from £43.7m ($54.4m) in 2022 – and a “very healthy sales pipeline,” Schulz said the company had “forecast” and “meticulously prepared” for the hydrogen technology market consolidation that has “undoubtedly” started.
... to continue reading you must be subscribed