ITM Power narrows FY pre-tax loss

Energy storage and clean-fuel company ITM Power has turned in a narrower full-year pre-tax loss of £4.4m, from a loss of £5.7m a year earlier, as revenue improved to £1.9m, from £1.6m.

CEO Graham Cooley said ITM Power's markets were undoubtedly growing.

"By the end of 2016, we will own and operate a growing portfolio of hydrogen refuelling stations - ahead of the many launches of FCEVs (fuel cell electric vehicle) expected next year," he said.

"We also have two working Power-to-gas reference plants in Germany that are already attracting attention from utilities around the world."