RE: Dennis Schulz tells Hydrogen Insight25 Sep 2025 13:56
Too easy - you must try harder:
"Yet one electrolyser maker, UK-based ITM Power, seems to be bucking the trend, with annual revenues increasing by 400% over the past two years and its share price tripling over the past six months.
Hydrogen Insight spoke to ITM CEO Dennis Schulz to find out how the company has been rising to the challenge of a shrinking pool of projects, and why he is confident that ITM can continue to grow in a market that is expected to see increased competition from low-cost Chinese electrolyser makers.
Schulz says that since taking on the CEO role at ITM in 2022, he has been focusing on improving manufacturing processes and increasing automation, while creating a “culture of cost and capital discipline” and building a “standardized and competitive product portfolio tailored to the needs of our customers”.
“We are unusually transparent about our prices and in-field product performance. In combination with a growing number of reference plants [ie, operating in-field facilities], all this is conducive to customer confidence,” he tells Hydrogen Insight.
“Our commercial momentum is undeniable. We saw a 400% increase in revenues over the past two years, and including this year, we expect it to be 600% over three years. At the same time, our firm contracted-order backlog has doubled to an all-time high during the last financial year."