ITM Power, a UK electrolyser manufacturer, has announced improved financial results for the year ended April 30, 2024. The company saw a significant increase in revenues to £16.5m ($21.2m) and a narrowed adjusted EBITDA loss compared to the previous year. The CEO, Dennis Schulz, credited this success to a strategic 12-month plan that emphasized quality over quantity in operations. The company's Chair, Sir Roger Bone, noted that ITM is now in a better operational state than ever before. Despite the positive financial performance, ITM Power aims to secure more customers to make final investment decisions (FID) on hydrogen projects to drive long-term value. The company recently received a significant order from Shell for a 100MW green hydrogen plant, showcasing growing interest in its electrolyser technology. Looking ahead to 2025, ITM Power forecasts further revenue growth but highlights that sales of its Trident skids are dependent on external factors like customer delays. The company remains optimistic about its path to profitability, emphasizing the need for increased customer orders to realize its full potential in the hydrogen market.