UK electrolyser maker ITM Power has increased its FY25 revenue guidance by 30% after recognising funds from a legacy project.
The company has upgraded its expected revenue to £25.5m-£26.5m ($34.1 m-$35.4 m) from initial estimates of £18m-£22m ($24m-$29.4m).
“This increase is due to additional contractual obligations having been fulfilled and associated revenue now recognised,” a company statement said. H2 View understands this was a project from before ITM’s management change-up in 2021.
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