Charbone Corporation has announced preliminary gas income of approximately $0.55 million for the third quarter ending September 30, 2026, a 21% increase from $0.46 million in the prior quarter. The company also reported a substantial rise in active customers to 28 from 3 at the start of the year, along with expansions in trailers, supply agreements, and regional hubs. The announcement, made through NEWMEDIAWIRE, highlights the company's rapid scaling and its ability to generate recurring revenues across multiple industrial gases.
The significance of this growth lies in its indication that Charbone's vertically integrated industrial gas model is gaining traction. For the nine-month period ending September 30, 2026, gas income is expected to total $1.2 million, compared to nil in the same period of 2025, reflecting the company's transition from development to commercial operations. This revenue growth is supported by sales of clean ultra-high purity hydrogen from the Sorel-Tracy Phase 1A plant, as well as UHP helium and oxygen sourced through partners. The company anticipates increased recurring revenues and new customers as demand remains strong in both U.S. and Canadian markets.
Beyond revenue, Charbone's operational metrics reveal a broad expansion of its Industrial Gas Platform. As of September 30, 2026, the company reported 11 trailers (up from 2), four multi-year supply agreements (up from 2), and approximately 12 customer deliveries per month (up from 2). Regional supply hubs now number four, located in Quebec, Ontario, Nova Scotia, and New York State, up from two. The workforce has grown to 15 employees from 9. These figures underscore the company's progress in building the infrastructure needed to serve mid-tier industrial gas customers reliably.
Operationally, the Sorel-Tracy Phase 1A plant is producing UHP hydrogen 24/7 with on-site quality control chromatographs and a dedicated lab technician, maintaining moisture below 2 ppm. Phase 1B is on track for a Fall 2026 launch, with electrolyzer installation underway and civil work complete. At the Wolf River, Wisconsin site, the generator is being repaired with reinstallation targeted for December 2026, and a reservoir refill plan has been submitted to FERC. Additionally, cylinder filling has been brought in-house at Sorel-Tracy, supporting margin improvement and quality control.
“We have delivered the strongest quarter to date with an incredible team, which underscores our unwavering focus on long-term value creation and growth,” said Benoit Veilleux, Chief Financial Officer and Corporate Secretary. The company plans to release full Q3 2026 results by November 26, 2026, and will host a webinar on December 1, 2026, at 11:00 AM ET. Investors can register for the webinar at https://info.rbmilestone.com/charbone-q3-2026. For more information, visit www.charbone.com.
