ITM Power plc (LON:ITM) is seeing more customer interest currently for its hydrogen power storage and fuel products than at any time previously.
Graham Cooley, chief executive, said: "Our markets are undoubtedly growing, our products are best in class and we have positioned ourselves at the heart of global efforts to decarbonise fuel and energy.”
ITM specialises in the two-way electrolyser technology that converts hydrogen into electricity for power and that can also be used to store excess electricity generated by renewable sources such as wind turbines.
In the year to April just ended, ITM installed its first vehicle refuelling stations in both the UK and the US including Britain’s first public access station (on the M1).
Cooley added: "By the end of 2016, we will own and operate a growing portfolio of hydrogen refuelling stations - ahead of the many launches of FCEVs [fuel cell electric vehicles] expected next year.
The group also has two working power-to-gas reference plants in Germany that Cooley said are already attracting attention from utilities around the world.
Results for the year to end April showed a rise in total project income to £8.2mln (£5.06mln), which comprised sales of £1.93mln (£1.64mln), recognised grants of £3.2mln and capitalised grants of £3.1mln.
Losses were cut to £4.34mln (£5.71mln).