CHARBONE CORPORATION (TSXV: CH; OTCQB: CHHYF; FSE: K47), a vertically integrated industrial gases company, has released its financial and operational results for the year ending December 31, 2025. The company reported a net loss of $2,676,116, a 6% decrease from $2,837,693 in 2024, reflecting tightened general and administrative expenses. Notably, CHARBONE generated $201,277 in gas income in 2025, compared to nil in the prior year, as it began revenue generation from industrial gases including clean ultra-high purity (UHP) hydrogen sourced from its Sorel-Tracy facility Phase 1A, along with UHP helium and UHP oxygen.
The company is progressing with Phase 1B at Sorel-Tracy, expected to increase hydrogen production capacity in Q3 2026, while continuing to expand its specialty gases platform. Additionally, CHARBONE recognized revenues from a Master Collaborative Agreement supporting a Malaysian green hydrogen project development.
Financially, the company strengthened its position through various capital activities in 2025. It closed a private placement of $1,012,980, units for debt settlement of $1,776,827, and shares for management debt settlement of $310,000. Warrants exercised totaled $1,943,034, up from $866,994 in 2024, with an additional $303,634 in convertible debentures. As of December 31, 2025, CHARBONE had 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 a first drawdown of $3,000,000 from a new $10 million secured convertible loan on April 29, 2026, with optional drawdowns available during the loan term.
In a significant operational milestone, CHARBONE completed the acquisition and reinstallation of operational hydrogen production and refueling equipment at its Sorel-Tracy site following an Asset Purchase Agreement with Harnois Energies Inc. On October 6, 2025, the company issued 13,333,334 common shares at $0.075 per share, representing $1 million in equity consideration to Harnois as part of the payment.
“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 (AGSM) for June 18, 2026, with further details to be provided to shareholders. Additionally, the Board of Directors has approved a new omnibus equity incentive plan (the “Omnibus Plan”), subject to TSX Venture Exchange approval and shareholder approval at the AGSM. The Omnibus Plan, if approved, will replace the current stock option plan and allow for awards including stock options, restricted share units (RSUs), performance share units (PSUs), and deferred share units (DSUs). The aggregate number of common shares reserved for issuance under the plan shall not exceed 10% of the company’s total issued and outstanding shares. The company has also cancelled 2,050,000 options granted on September 9, 2022 at an exercise price of $0.60 per share.
These developments highlight CHARBONE's progress in building a vertically integrated industrial gases platform, serving sectors such as semiconductors, artificial intelligence, data centers, pharmaceuticals, and aerospace, where UHP gases are critical. The company’s modular, decentralized approach aims to provide stable revenue and address supply gaps for mid-tier customers. For more information, visit www.charbone.com.
