Charbone Hydrogen Corporation (TSX-V:CH, OTCQB:CHHYF) has released its third quarter financial results, reporting a narrower net operating loss and progress at its hydrogen production facility in Sorel-Tracy, Quebec.
The company said that Phase 1A construction at the Sorel-Tracy site is now complete, with equipment installed and commissioning underway. Charbone expects initial hydrogen production to begin in the coming days.
During the quarter, the company completed the purchase and relocation of hydrogen production and refueling equipment from Harnois Énergies.
“Charbone is moving into execution mode to unlock its strong growth potential,” the company’s CFO Benoit Veilleux said in a statement. “Management is motivated to keep working on structuring deals to finance further project investments and expansion.”
For Q3, Charbone reported a net operating loss of about $577,000, a 17% improvement from the $698,000 loss recorded in the second quarter of 2025. The company attributed the reduction to ongoing efforts to tighten general and administrative spending.
Revenue recognition began during Q3 tied to work under a Master Collaborative Agreement supporting the development of a Malaysian green hydrogen project announced earlier this year.
Charbone reported its first industrial gas revenues in October following an offtake agreement with a US Tier One industrial gases producer, enabling distribution of helium and other gases.