Charbone Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47), a vertically integrated industrial gases company, today announced its first quarter 2026 financial and operational results for the three-month period ending March 31, 2026. The company reported total income of $244,778, a 4,731% increase compared to $5,067 in the same period last year, driven by initial revenues from its Sorel-Tracy plant Phase 1A, which commenced commercial production in December 2025.
Net loss improved 11% to $1,059,718 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 its new $10 million secured convertible loan facility, with additional optional drawdowns available during the term.
The company confirmed multiple industrial gas sales into both U.S. and Canadian markets, including clean ultra-high purity (UHP) hydrogen sourced from its Sorel-Tracy plant, as well as UHP helium and UHP oxygen sourced through partners. Demand accelerated throughout Q1 2026, driving the decision to advance Phase 1B to increase hydrogen production capacity anticipated in the second half of 2026.
“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.”
Charbone 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. The company 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. Detailed financial results are available in two parts: Part 1 and Part 2.
The company’s modular, decentralized, and demand-driven approach, combined with its integrated storage and distribution platform for all UHP gases, supports scalable growth, enhances operational flexibility, and enables more stable and diversified revenue generation. This model allows Charbone to efficiently serve mid-tier industrial gas customers with a reliable supply of UHP gases, including hydrogen, helium, oxygen, and others that are often difficult to source.
