Sheffield-based green hydrogen firm ITM Power announced that its revenue for FY26 is now expected to be between £40 million and £43 million, an 11% midpoint increase compared to its previous guidance.

“This increase is due to strong project progress,” said ITM.

“Following our adoption of the percentage-of-completion (PoC) method, which enables revenue to be recognised progressively over the life of the contract, the increased guidance also reflects contributions from recently announced contracts.

“Adjusted EBITDA and cash guidance remain unchanged.”

ITM Power CEO Dennis Schulz said: “ITM continues to deliver strong revenue performance while increasing our firm contract backlog, and we remain well-positioned with a healthy level of sales activity.”