ITM Power secured a £46.5 million government grant from the Department for Energy Security and Net Zero, three months after its initial announcement in April. The electrolyser manufacturer reported record first-half revenue of £18 million, with £15.5 million from equipment sales and the remainder from engineering studies, spare parts, and maintenance. The company's order book grew to £152 million, 71 per cent of which is profitable. Cash reserves stand at £197.8 million. Management targets full-year revenue of £35–40 million, aiming to quadruple within two years. Despite gaining 79.54 per cent year-to-date, shares trade nearly half below their 52-week peak of €2.58. Analyst opinions remain divided, with Goldman Sachs maintaining a Sell rating whilst Morgan Stanley upgraded to Overweight with a 170 pence target. Full-year results are due 14 August.

Great British Energy acquired a 10% stake in ITM Power during the second quarter of 2026, investing £40 million in fresh equity. The UK energy ministry added £46.5 million on 9 July for the Chronos automated production line in Sheffield. Despite government backing, ITM Power shares remain volatile, trading at €1.32 — 15% lower over 30 days and 48% below the 29 May high. Analyst price targets range from £1.10 to £2.00, with Berenberg rating the stock a buy at 200 pence whilst Goldman Sachs maintains a sell recommendation. The Chronos line aims to deliver 1 gigawatt of electrolyser stacks annually. ITM Power is also developing the 15-megawatt Cromarty hydrogen project in Scotland, with a final investment decision expected in December 2026.

ITM Power has secured a £46.5 million government grant, cleared by Britain's competition authority, to build an automated electrolyser factory in Sheffield. Combined with a £40 million share placement from Great British Energy, the total financing package reaches £86.5 million. The UK company plans to produce its Chronos platform electrolysers at one gigawatt annual capacity by 2028. Alongside the funding, ITM Power published durability data with W. L. Gore & Associates addressing the hydrogen sector's credibility gap around long-term reliability under realistic operating conditions. ITM Power shares closed at €1.50, up 16.61% over the week but down 29.94% over 30 days. The stock has gained 106.06% year-to-date despite trading 42.01% below its 52-week high, reflecting investor scepticism around commercial delivery in the green hydrogen sector.