CHARBONE Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47), a vertically integrated industrial gases company, released its financial and operational results for the year ending December 31, 2025, highlighting a reduction in net loss and the commencement of revenue generation from industrial gases.
The company reported a net loss of $2,676,116 in 2025, down 6% from $2,837,693 in 2024, reflecting tightened general and administrative expenses. Gas income reached $201,277 in 2025 compared to nil in the prior year. Revenue recognition also stemmed from a Master Collaborative Agreement supporting a Malaysian green hydrogen project development.
Since the fourth quarter of 2025, CHARBONE began generating revenues from clean ultra-high purity (UHP) hydrogen sourced from its Sorel-Tracy facility Phase 1A, as well as UHP helium and UHP oxygen. The company is progressing with Phase 1B at Sorel-Tracy to increase hydrogen production capacity in the third quarter of 2026 while expanding its specialty gases platform.
Financially, CHARBONE closed a private placement of $1,012,980, units for debt settlement of $1,776,827, shares for management debt settlement of $310,000, exercised warrants totaling $1,943,034, and an additional $303,634 in convertible debentures. The company also completed the acquisition and reinstallation of operational hydrogen production and refueling equipment at its Sorel-Tracy site following an Asset Purchase Agreement with Harnois Energies Inc. On October 6, 2025, CHARBONE issued 13,333,334 common shares at $0.075 per share, representing $1 million in equity consideration as part of the payment.
As of December 31, 2025, CHARBONE had a cash balance of $1,016,292. The company subsequently closed a private placement of $3,100,000 on January 12, 2026, and a $3,000,000 first drawdown of a new $10 million secured convertible loan on April 29, 2026, with optional drawdowns during the term.
“CHARBONE’s disciplined financial management, operational execution and successful completion of new financings, position the Company to continue its growth as a vertically integrated industrial gases producer and distributor,” said Benoit Veilleux, Chief Financial Officer and Corporate Secretary. “CHARBONE is moving into execution mode to unlock its strong growth potential.”
The company has reserved June 18, 2026 for its 2024 and 2025 Annual General and Extraordinary Meetings of Shareholders. Additionally, CHARBONE’s Board of Directors approved a new omnibus equity incentive plan, subject to TSX Venture Exchange approval, which would replace the current stock option plan. The omnibus plan includes stock options, restricted share units, performance share units, and deferred share units, with the aggregate number of common shares reserved not exceeding 10% of issued and outstanding shares. The company also cancelled 2,050,000 options granted on September 9, 2022 at an exercise price of $0.60 per share.
CHARBONE serves customers across sectors including semiconductors, artificial intelligence and data centers, advanced pharmaceuticals, and aerospace and defense technologies, where UHP gases are critical. The company is advancing a network of clean UHP hydrogen production facilities across North America and selected international markets.
