ITM Power has revealed a stronger working capital position after its £29.4m ($41.3m) share placing fundraising.
The UK-based company has increased income by 47% and more than doubled the size of its order book as it released its half-year results for the six-month period ended 31st October 2017.
As it stands, the corporation has £27m ($38m) of projects under contract – up by £10m ($14m) on the previous half-year results – and a further £10.4m ($14.6m) of contracts in the final stages of negotiation constituting a total backlog of £37.4m ($52.6m), up 103% year on year.
The potential order book is now worth more than £200m ($281.2m).
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