ITM Power Triumphs with Financial and Operational Gains

ITM Power (GB:ITM) has released an update.

ITM Power PLC reports a significant increase in revenue to £16.5 million and a reduction in adjusted EBITDA loss to £30.4 million, indicating strong financial health with a year-end net cash of £230 million. Operational advancements include the inauguration of Europe’s largest PEM electrolyser, the signing of major contracts, and the launch of new electrolyser products. Looking forward, the company is optimistic about its growing sales pipeline and the role of green hydrogen in global decarbonisation.

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