ITM Power’s (LON:ITM) project pipeline has risen to £18.7mln with growing interest in its rapid response electrolysers.
The hydrogen storage and fuel systems group has £9.7mln of projects contracted and a further £9mln in the final stages of negotiation. That compares with £17.7mln in total at the end of January, which itself was 55% higher than a year earlier.
Enquiries are growing for larger scale platforms in the range of 0.3Mw to 6Mw, it said.
Over the past year, ITM opened new a number of new refuelling sites for hydrogen fuel cell powered electric vehicles including one of the M1 that is due for an upgrade shortly.
A first London site, at the National Physical Laboratory in Teddington, will open in May with a second, at the Centre for Engineering and Manufacturing Excellence in East London, to open in July.
Three UK forecourt refuelling stations will also open before the end of 2016 (to make five) with sites for three more under negotiation.
The government is backing a multi-group plan for 65 hydrogen refuelling stations to be operational in the UK by 2020.
In storage, a 0.5Mw hydrogen electrolyser and compression system at the European Marine Energy Centre on Orkney is readying for shipment, while ITM is negotiating a contract for its first 1Mw system.
Andy Allen, chief financial officer, added that the recent £5.8mln funding had given it the financial strength to deliver the existing pipeline as well as boosting client confidence.
The key strategic goal is to become cash flow positive in the shortest time possible.