CHARBONE Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47), a vertically integrated industrial gases company focused on clean ultra-high purity (UHP) hydrogen and other strategic gases, 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% improvement from $2,837,693 in 2024, driven by tightened general and administrative expenses.
For the first time, CHARBONE generated revenues from industrial gases, reporting $201,277 in gas income in 2025 compared to nil in 2024. This revenue stream comes from clean UHP hydrogen sourced from its Sorel-Tracy facility Phase 1A, as well as UHP helium and UHP oxygen. The company is now progressing with Phase 1B at Sorel-Tracy to increase hydrogen production capacity by Q3 2026, while continuing to expand its specialty gases platform.
In addition to gas sales, CHARBONE recognized revenues from a Master Collaborative Agreement supporting a Malaysian green hydrogen project development. The company completed 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 convertible debentures of $303,634.
Notably, CHARBONE acquired and reinstalled 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 as part of the payment for the acquisition.
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 a first drawdown of $3,000,000 from a new $10 million secured convertible loan on April 29, 2026, with optional drawdowns during the loan term.
“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 of CHARBONE. “CHARBONE is moving into execution mode to unlock its strong growth potential.”
The company has reserved June 18, 2026 for its 2024 and 2025 Annual General and Extraordinary Meetings of Shareholders. Further details will be sent to shareholders as of April 29, 2026. CHARBONE also announced that its Board of Directors has approved a new omnibus equity incentive plan, subject to TSX Venture Exchange approval. The plan, if approved, will replace the current stock option plan and include awards such as stock options, restricted share units, performance share units, and deferred share units. The aggregate number of common shares reserved for issuance under the plan will not exceed 10% of the company’s total issued and outstanding common shares.
Additionally, CHARBONE has cancelled 2,050,000 options granted on September 9, 2022, at an exercise price of $0.60 per share. For more information, visit www.charbone.com.
