ITM Power announces half-year results


“Significant progress has been achieved over the last six months.”

That’s the message from Roger Putnum, ITM Power’s Chairman, as the UK-based business revealed its half-year results for the period ending 31st October (2018) today.

As of today, £23.2m ($29.6m) of projects are under contract and a further £10.4m ($13.3m) are in the final stages of negotiation, making a total backlog of £33.6m ($42.9m).

The energy storage specialists’ tender opportunity pipeline has grown steadily and is now more than £240m ($306.2m), representing 36 commercial tender responses within the last 12 months. The average project size of £6m ($7.7m) reflects strong industrial demand for larger systems.

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