CHARBONE CORPORATION (TSXV: CH; OTCQB: CHHYF; FSE: K47), a vertically integrated industrial gases company, reported first quarter 2026 financial results for the period ending March 31, 2026, highlighted by a 4,731% increase in total income to $244,778, compared to $5,067 in the same quarter last year. The company attributed the growth to commercial production at its Sorel-Tracy plant Phase 1A, which commenced in December 2025, and initial revenues recognized in Q4 2025.
Demand for clean ultra-high purity (UHP) hydrogen and other industrial gases accelerated throughout Q1 2026, prompting Charbone to advance Phase 1B to increase hydrogen production capacity, anticipated in the second half of 2026. The company confirmed multiple industrial gas sales into both U.S. and Canadian markets, including UHP hydrogen from its Sorel-Tracy facility, and UHP helium and UHP oxygen sourced through partners.
Net loss improved 11% to $1,059,718 in Q1 2026 from $1,187,786 in Q1 2025, reflecting continued discipline on general and administrative expenses. As of March 31, 2026, Charbone had a cash balance of $2,762,342. Subsequently, on April 29, 2026, the company drew down $3,000,000 as the first tranche of a new $10 million secured convertible loan facility, with additional optional drawdowns available during the term.
“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 continues to expand its full-stack platform covering production, purification, compression, storage, and last-mile delivery to serve customers with UHP-specification gases on both sides of the border. Charbone serves sectors including semiconductors, artificial intelligence and data centers, advanced pharmaceuticals, and aerospace and defense technologies, where UHP gases are critical for high-precision manufacturing processes.
Charbone will host a webinar on Friday, May 29, 2026 at 11:00am ET to discuss its Q1 2026 results and corporate update. Interested parties can register at https://info.rbmilestone.com/charbone-q1-2026. The company is listed on the TSX Venture Exchange (TSXV: CH), OTC Markets (OTCQB: CHHYF), and Frankfurt Stock Exchange (FSE: K47). For more information, visit www.charbone.com.
