CHARBONE CORPORATION (TSXV: CH; OTCQB: CHHYF; FSE: K47), a vertically integrated industrial gases company, announced its financial and operational results for the year ended December 31, 2025, highlighting a narrowing net loss, the commencement of gas revenues, and strategic progress toward scaling its clean hydrogen and specialty gases platform.
The company reported a net loss of $2,676,116 for 2025, a 6% improvement from the $2,837,693 loss in 2024, as management focused on tightening general and administrative expenses. Notably, CHARBONE generated $201,277 in gas income during 2025, compared to nil in the prior year, driven by sales of clean ultra-high purity (UHP) hydrogen from its Sorel-Tracy facility Phase 1A, along with UHP helium and UHP oxygen. The company also recognized revenue from a Master Collaborative Agreement supporting a Malaysian green hydrogen project development.
CHARBONE advanced its operational capacity through the acquisition and reinstallation of hydrogen production and refueling equipment from Harnois Energies Inc., completed in October 2025. This acquisition was partially financed by issuing 13,333,334 common shares at $0.075 per share, representing $1 million in equity consideration. The company is now progressing with Phase 1B at Sorel-Tracy to increase hydrogen production capacity in Q3 2026.
Financially, the company strengthened its position through multiple capital-raising activities in 2025, including 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 $303,634 in convertible debentures. As of December 31, 2025, CHARBONE held a cash balance of $1,016,292. Subsequent to year-end, the company closed a private placement of $3,100,000 on January 12, 2026, and secured a $3,000,000 first drawdown from a new $10 million secured convertible loan on April 29, 2026, with optional further drawdowns.
“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 scheduled its 2024 and 2025 Annual General and Extraordinary Meetings of Shareholders for June 18, 2026. Additionally, the Board of Directors approved a new omnibus equity incentive plan, subject to TSX Venture Exchange and shareholder approval, which will replace the current stock option plan. The omnibus plan allows for grants of 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 previously granted on September 9, 2022.
CHARBONE serves customers in sectors such as semiconductors, artificial intelligence, data centers, pharmaceuticals, and aerospace, where UHP gases are critical for precision manufacturing. The company’s modular, decentralized approach aims to provide reliable supply of hydrogen, helium, oxygen, and other specialty gases while supporting the transition to a lower-carbon economy.
Further details are available in the company’s filings on SEDAR at www.sedar.com and on CHARBONE’s website at www.charbone.com.
