Charbone Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47), a vertically integrated industrial gases company focused on ultra-high-purity hydrogen production and distribution, has announced preliminary gas revenues of approximately $0.55 million for the three months ended September 30, 2026, representing a 21% increase over the $0.46 million recorded in Q2 2026. The company also disclosed that nine-month gas revenues are expected to reach $1.2 million, compared to zero for the same period in 2025. Full Q3 2026 financial results are scheduled for release on November 25, 2026, after market close, with an investor webinar to follow on December 1, 2026.

Key Points

  • Charbone Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) is a Varennes, Québec-based industrial gases producer
  • Preliminary Q3 2026 gas revenues expected at $0.55 million, up 21% from Q2 2026's $0.46 million
  • Active customers grew to 28 from 3, and monthly customer deliveries rose to approximately 12 from approximately 2, compared to Q1 2026
  • Investors may be watching the November 25, 2026 full results release and the December 1, 2026 webinar for additional operational detail

Charbone's Q3 2026 Revenue Growth Driven by Hydrogen and Industrial Gas Sales

The company attributes the quarter-over-quarter revenue increase to growing demand for clean ultra-high-purity hydrogen produced at its Sorel-Tracy Phase 1A facility, as well as UHP helium and oxygen supplied through partner arrangements. Sales expanded across both Canadian and U.S. markets. Q3 2026 operating expenses are expected to remain comparable to Q2 2026 levels. The internationalisation of cylinder filling at Sorel-Tracy is noted as a factor the company expects will contribute to improved margins and better product quality control, though specific margin figures were not disclosed in the announcement.

Operational Milestones Across Sorel-Tracy, Wolf River, and Regional Platforms

Charbone's Sorel-Tracy Phase 1A facility is operating on a 24/7 basis with on-site quality-control chromatographs and a dedicated laboratory technician, maintaining moisture below 2 ppm. Phase 1B electrolyser installation is underway, with civil engineering work complete and equipment connections progressing. At Wolf River, Wisconsin, equipment is under repair in Lévis, Québec, with reinstallation targeted for December 2026. The company's regional supply platform network has expanded to four locations — Québec, Ontario, Nova Scotia, and New York State — up from two compared to Q1 2026.

Business Growth Indicators Reflect Rapid Customer and Infrastructure Expansion

Charbone's disclosed operational metrics show significant scale-up since Q1 2026. Active customers increased to 28 from 3, trailers deployed across all gas types rose to 11 from 2, multi-year supply contracts grew to 4 from 2, and the workforce expanded to 15 employees from 9. Monthly customer deliveries reached approximately 12 compared to approximately 2 previously. These figures are preliminary and unaudited; the company notes that actual revenues could differ from current estimates when final financial statements are completed.