ITM Power Competitors and Similar CompaniesClear all

Hydrogenics's competitors and similar companies include McPhy Energy and Nel Hydrogen.

	Hydrogenics Hydrogenics is a designer and manufacturer of hydrogen systems.	McPhy Energy McPhy Energy is a company specializing in the hydrogen energy transition.	Nel Hydrogen Nel ASA is a company that develops and manufactures PEM and alkaline electrolysers for hydrogen production.
Founding Date	Founding Date 1995	Founding Date 2008	Founding Date 1927
Type	Type Subsidiary	Type Public	Type Public
Tags	Tags Energy & Utilities energy services energy storage fuel cells hydrogen	Tags Energy & Utilities energy infrastructure energy services energy storage hydrogen	Tags Energy & Utilities energy storage hydrogen renewables
Locations	Locations Mississauga, CA HQ	Locations Grenoble, FR HQ Foussemagne, FR Paris, FR Wildau, DE San Miniato Basso, IT	Locations Oslo, NO HQ Vienna, AT Brussels, BE Santiago, CL Munich, DE Notodden, NO Porsgrunn, NO see more
Employees	Employees 921% increase	Employees 258	Employees 394
Valuation ($)	Valuation ($) N/A	Valuation ($) 71.3 m	Valuation ($) 702.1 m
Financial
Revenue (est.)	Revenue (est.) N/A	Revenue (est.) €13.2m (FY, 2024)	Revenue (est.) kr963.1m (FY, 2025)
Cost of goods	Cost of goods N/A	Cost of goods €10.6m (FY, 2024)	Cost of goods kr400.6m (FY, 2025)
Gross profit	Gross profit N/A	Gross profit €4.1m (FY, 2024)	Gross profit kr678.2m (FY, 2025)
Net income	Net income N/A	Net income (€74.1m) (FY, 2024)	Net income (kr1.3b) (FY, 2025)
Funding
Total funding raised	Total funding raised $ 13.3m	Total funding raised $ 25.5m	Total funding raised $ 75m