ITM Power releases strong 2019 results

ITM Power releases strong 2019 results

ITM Power, the energy storage and clean fuel group, has released financial results for the year ended 30thApril (2019).

The UK-based company reported total revenue and grant funding of £17.5m, an increase of 25% from the previous year, and sales revenues of £4.6m, up 40%.

Loss of operations totalled £9.3m, an increase of 44%, EBITDA loss of £7.5m increased 56% due to investment in scaling up facilities, resources and production capacity.

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