Charbone Reports 4,731% Revenue Surge in Q1 2026, Advances Hydrogen Production Capacity

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, highlighting a 4,731% surge 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, which began in December 2025 and generated initial revenues in Q4 2025. Demand for clean ultra-high purity (UHP) hydrogen accelerated through Q1 2026, prompting Charbone to advance Phase 1B of the facility to increase production capacity anticipated in the second half of 2026.

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, the company held a cash balance of $2,762,342. Subsequently, on April 29, 2026, Charbone 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.”

In Q1 2026, Charbone confirmed multiple industrial gas sales into both U.S. and Canadian markets, including clean UHP hydrogen from its Sorel-Tracy plant Phase 1A, and UHP helium and UHP oxygen sourced through partners. 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 EDT to discuss Q1 2026 results and corporate updates. Interested parties can register at https://info.rbmilestone.com/charbone-q1-2026. 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 other high-demand gases that are often difficult to source.