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ITM Power admits cost discipline ‘not rigorous enough’

The hydrogen company accepts blame for an ‘unacceptable’ financial performance
January 31, 2023
  • Headcount to be reduced by a quarter
  • New supply deal signed with Linde Engineering

Markets can’t say ITM Power (ITM) failed to warn them. After all, the hydrogen equipment manufacturer issued its third profit warning in eight months just two weeks ago. Now, its interim results have provided a glimpse into exactly where the company has gone off course – and why.

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