Charbone Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) reported first quarter 2026 financial results for the three-month period ending March 31, 2026, demonstrating a significant ramp in commercial activity. Total income surged 4,731% to $244,778 compared to $5,067 in Q1 2025, driven by sales of clean ultra-high purity (UHP) hydrogen from its Sorel-Tracy plant Phase 1A, along with UHP helium and UHP oxygen sourced through partners.
Commercial production at Sorel-Tracy commenced in December 2025, with initial revenues recognized in Q4 2025. Demand accelerated through Q1 2026, prompting the company to advance Phase 1B to increase hydrogen production capacity anticipated in the second half of 2026. Charbone continues to expand its full-stack platform covering production, purification, compression, storage, and last-mile delivery to serve customers with UHP-specification gases across the U.S. and Canadian markets.
Net loss improved 11% to $1,059,718 from $1,187,786 in the prior year, 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 its new $10 million secured convertible loan facility, with additional optional drawdowns available during the term.
Benoit Veilleux, Chief Financial Officer and Corporate Secretary of Charbone, said, “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. 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 serves customers across 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 is advancing a network of clean UHP hydrogen production facilities across North America and selected international markets, using a modular, decentralized, and demand-driven approach.
Charbone will host a webinar on Friday, May 29, 2026 at 11:00am ET to discuss Q1 2026 results and corporate updates. Interested parties can register at https://info.rbmilestone.com/charbone-q1-2026. The Q1 2026 results are available in two parts: Part 1 and Part 2.
