Charbone Reports 4,731% Revenue Surge in Q1 2026, Driven by Growing Industrial Gas Sales

Charbone Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) reported a staggering 4,731% increase in total income for the first quarter of 2026, reaching $244,778 compared to just $5,067 in the same period last year. The company, a vertically integrated industrial gases provider specializing in ultra-high purity (UHP) hydrogen and other strategic gases, attributed the growth to confirmed sales of UHP hydrogen from its Sorel-Tracy plant Phase 1A, as well as UHP helium and oxygen sourced through partners. These sales spanned both U.S. and Canadian markets, reflecting accelerating demand since commercial production commenced in December 2025.

The company’s net loss improved by 11% to $1,059,718 from $1,187,786 in Q1 2025, demonstrating disciplined cost management even as operations scaled. As of March 31, 2026, Charbone held a cash balance of $2,762,342. Subsequently, on April 29, 2026, it drew down $3 million as the first tranche of a new $10 million secured convertible loan facility, with additional optional drawdowns available during the term. This financing supports the company’s decision to advance Phase 1B of the Sorel-Tracy plant, aiming to increase hydrogen production capacity in the second half of 2026.

Benoit Veilleux, Chief Financial Officer and Corporate Secretary, emphasized the rarity of investing in a vertically integrated UHP industrial gases platform at this growth stage. “We’re not asking investors to bet on a future state of the world,” Veilleux said. “We’re building a business in a market that exists, backed by a capital-disciplined model designed to scale with demand.” The company’s full-stack platform covers production, purification, compression, storage, and last-mile delivery, enabling it to serve customers with UHP-specification gases on both sides of the border.

Charbone’s focus on sectors such as semiconductors, artificial intelligence and data centers, advanced pharmaceuticals, and aerospace and defense technologies positions it to capitalize on industries where UHP gases are critical for high-precision manufacturing. The company’s modular, decentralized, and demand-driven approach, combined with integrated storage and distribution, aims to generate stable and diversified revenue while addressing supply gaps for underserved mid-tier industrial gas customers.

The company will host a webinar on Friday, May 29, 2026, at 11:00 a.m. ET to discuss its Q1 2026 results and corporate updates. Interested parties can register at https://info.rbmilestone.com/charbone-q1-2026. Management will present an overview of financial results, recent operational achievements, and upcoming milestones, with a Q&A session included.

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