Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) announced its second quarter 2025 financial results, marking the first recognition of revenues, and continued progress on its flagship Sorel-Tracy green hydrogen facility in Québec, Canada.
Revenues were recognized for the first time following activities under a Master Collaborative Agreement supporting development of a Malaysian green hydrogen project, the company said on Friday.
Charbone reported a net loss of about $445,000 for the quarter, a 39% improvement from the same period last year, reflecting tighter expense controls.
At Sorel-Tracy, Hydro-Québec has completed electrical interconnection and metering, the town has connected the water supply, and contractors have begun civil works, keeping the project on track to start production this fall.
Financing activities during Q2 included $1.27 million in units for debt settlement, $310,000 in management debt settlement, and $575,022 in warrant exercises, more than doubling the approximately $223,000 recorded in Q2 2024.
Charbone also signed a term sheet for a construction capital facility of up to US$50 million and secured an offtake agreement with a US Tier One industrial gases producer, opening new revenue streams.
The company said its financial discipline, new partnerships, and production milestones position it to expand its green hydrogen and industrial gas distribution network across North America and the Asia-Pacific region.
“Management is motivated to keep working on structuring deals to preserve cash,” Charbone chief financial officer Benoit Veilleux said in a statement. “Charbone is moving into execution mode to unlock its strong growth potential in the short term.”