ITM Power is a stronger, more focused and more capable company, according to CEO Dennis Schulz, as the UK electrolyser firm announces a positively narrowing EBITDA and an improving cash position.
In its interim results for the six months to October 31, 2023, ITM reported a revenue of £8.9m ($11.3m) – up on its H1 2023 of £2m ($2.5m).
The company’s adjusted EBITDA loss fell from the same period in 2023 from £54.1m ($68.6m) to £21m ($26.6m), was its cash position at the on for the first half of 2024 totalled £253.7m ($322m).
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