CHARBONE Reports Narrower Loss in 2025, Advances Hydrogen Production and Financing

CHARBONE CORPORATION, a vertically integrated industrial gases company focused on clean ultra-high purity (UHP) hydrogen and other strategic gases, reported its 2025 annual financial results on April 30, 2026. The company posted a net loss of $2,676,116 for the year ending December 31, 2025, a 6% improvement from the $2,837,693 loss in 2024, driven by tightened general and administrative expenses. Notably, CHARBONE generated $201,277 in gas income in 2025, compared to nil in the prior year, marking its first revenue from industrial gases including clean UHP hydrogen from its Sorel-Tracy facility Phase 1A, UHP helium, and UHP oxygen.

The company is progressing with Phase 1B at Sorel-Tracy to increase hydrogen production capacity in Q3 2026 while expanding its specialty gases platform. CHARBONE also recognized revenues from a Master Collaborative Agreement supporting a Malaysian green hydrogen project development. Financially, the company closed 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 totalling $1,943,034, and an additional $303,634 in convertible debentures.

In October 2025, CHARBONE completed the acquisition and reinstallation of operational hydrogen production and refueling equipment at its Sorel-Tracy site via an Asset Purchase Agreement with Harnois Energies Inc., issuing 13,333,334 common shares at $0.075 per share as part of the $1 million equity consideration. As of December 31, 2025, the company had a cash balance of $1,016,292, and subsequently closed a $3,100,000 private placement on January 12, 2026, and a $3,000,000 first drawdown of a new $10 million secured convertible loan on April 29, 2026, with optional drawdowns during its term.

Benoit Veilleux, CFO and Corporate Secretary, stated: “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. 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 and plans to seek approval for a new omnibus equity incentive plan, which will replace the current stock option plan if approved. The omnibus plan would allow for stock options, restricted share units, performance share units, and deferred share units, with the aggregate number of common shares reserved not exceeding 10% of total issued and outstanding shares. Additionally, CHARBONE has cancelled 2,050,000 options granted in 2022 at $0.60 per share.

This development underscores CHARBONE’s transition from development to revenue generation, addressing critical supply gaps for UHP gases used in semiconductors, AI, data centers, pharmaceuticals, and aerospace. The company’s modular, decentralized approach aims to provide reliable supply to mid-tier industrial customers while supporting the global shift to lower-carbon energy. More information is available at www.charbone.com.

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