Charbone Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47), a vertically integrated industrial gases company focused on clean ultra-high purity (UHP) hydrogen and other strategic gases, today announced its first quarter 2026 financial results, revealing a dramatic 4,731% increase in total income to $244,778 for the three months ended March 31, 2026, compared to $5,067 in the same period last year. The company also reported a net loss improvement of 11% to $1,059,718 from $1,187,786 in Q1 2025, reflecting disciplined expense management.
The results underscore the early success of Charbone's commercial production at its Sorel-Tracy plant Phase 1A, which commenced in December 2025 and generated initial revenues in Q4 2025. Demand for clean UHP hydrogen, as well as UHP helium and UHP oxygen sourced through partners, has accelerated in Q1 2026, prompting the company to advance Phase 1B to increase hydrogen production capacity anticipated in the second half of 2026. As of March 31, 2026, Charbone held a cash balance of $2,762,342, and on April 29, 2026, it drew down $3,000,000 as the first tranche of a new $10 million secured convertible loan facility, with additional optional drawdowns available.
“Charbone’s diversification is central to the platform thesis. Opportunities to invest in a vertically integrated UHP industrial gases platform at this stage of growth are rare, and the build-out we’re executing is designed to reflect that,” said Benoit Veilleux, Chief Financial Officer and Corporate Secretary. “We’re not asking investors to bet on a future state of the world. We’re building a business in a market that exists, backed by a capital-disciplined model designed to scale with demand.”
The company's focus on serving mid-tier industrial gas customers across sectors such as semiconductors, artificial intelligence and data centers, advanced pharmaceuticals, and aerospace and defense technologies positions it to capitalize on growing demand for UHP gases critical for high-precision manufacturing. Charbone's full-stack platform covers production, purification, compression, storage, and last-mile delivery, enabling it to serve customers in both the U.S. and Canadian markets.
Charbone's modular, decentralized, and demand-driven approach, combined with its integrated storage and distribution platform for all UHP gases, supports scalable growth and operational flexibility. This model allows the company to efficiently supply clean hydrogen, helium, oxygen, and other high-demand gases that are often difficult to source, addressing supply gaps for underserved customers.
Investors and interested parties are invited to register for a webinar on Friday, May 29, 2026, at 11:00am ET, where management will present Q1 2026 results, recent operational achievements, and upcoming milestones. Registration is available at https://info.rbmilestone.com/charbone-q1-2026.
The company's forward-looking statements, including expectations for Phase 1B and demand growth, are subject to risks and uncertainties as described under “Risk Factors” in the Corporation’s Filing Statement dated March 31, 2022, available on SEDAR+ at www.sedarplus.ca.
