CHARBONE

What CHARBONE does

CHARBONE Corporation is a publicly traded Canadian integrated industrial gases company specializing in ultra-high-purity (UHP) hydrogen production and multi-molecule specialty gas distribution across North America and Asia-Pacific. Founded in 2019 and listed on the TSX Venture Exchange (ticker CH) via an April 2022 reverse takeover of Orletto Capital II Inc., the company rebranded from Charbone Hydrogen Corp. to Charbone Corp. in June 2026 and relocated its headquarters to Varennes, Quebec, to reflect its strategic expansion beyond pure-play hydrogen into a vertically integrated UHP industrial gas platform. The core technology is modular electrolyzer-based hydrogen production powered by local renewable energy sources, including hydroelectric assets acquired from Northwoods Hydropower in Wisconsin and Michigan, with the flagship Sorel-Tracy facility producing up to 99.999% purity hydrogen (Grade +5.0) under the HyChem UHP, HyChem Eco, and HyChem product brands.

The company operates a decentralized hub-and-spoke model targeting mid-tier industrial gas customers underserved by centralized incumbents. Phase 1A at Sorel-Tracy commenced commercial production in December 2025 at approximately 200 kg/day capacity, with Phase 1B planned for H2 2026 to expand capacity 4.5x to nearly one tonne per day. The product portfolio spans UHP hydrogen (HyChem UHP), decarbonized green hydrogen (HyChem Eco), helium supplied via partnership with a major US industrial gases producer, and UHP oxygen launched commercially in February 2026. Target customer segments include semiconductors, AI data centers, pharmaceuticals, aerospace and defense, and a newer mobile-power application serving the film and entertainment industry through a two-year binding supply contract with Hone Inc.

The business model combines direct enterprise sales, independent distributor partnerships, and multi-year supply agreements on quote-based pricing. Disclosed customers include a subsidiary of a major industrial conglomerate with multi-year UHP hydrogen/helium/oxygen agreements, Superior Plus under a five-year Ontario hydrogen supply contract, the New York State Tech Valley semiconductor cluster, and Quebec-based independent distributors. Distribution is supported by tube trailer delivery across North America, with regional supply hubs in Ontario, Nova Scotia, and Albany, New York (the first US hub opened May 2026). Despite cumulative disclosed funding of approximately $65M from private placements, a $50M US Capital Global facility, and a $10M RiverFort structured financing facility, the company remains loss-making with revenue in the low hundreds of thousands of USD as of 2026 and a 6% year-over-year reduction in net loss.

Name

CHARBONE

Legal name

CHARBONE Corporation

Website

https://charbone.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

CHARBONE Corporation is a Canadian integrated industrial gases company that produces ultra-high-purity green hydrogen and distributes helium and UHP oxygen through modular facilities, serving semiconductor, AI data center, pharmaceutical, aerospace, and film/entertainment customers across North America and Asia-Pacific.

Ownership category

akta.pro rank

Product category

Green Hydrogen Production

NAICS

Industrial Gas Manufacturing (32512)

SIC

Industrial Inorganic Chemicals (2810)

akta.pro primary industry

Hydrogen (Industrial & Mobility) (IMAEACAB)

akta.pro secondary industries

Hydrogen & Derivative Fuels for Industry (H₂, Ammonia, Methanol) (EUABAJAC), Hydrogen Energy Storage & Power-to-X Equipment (electrolyzers, storage, fuel cell systems) (IMAGAHAM)

Keywords

• Green hydrogen production
• Industrial gas distribution
• Ultra-high-purity hydrogen
• Modular hydrogen facilities
• Clean energy infrastructure

Headquarters

HQ city

Brossard

HQ country

Canada

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. UHP Hydrogen Sales: Sale of ultra-high-purity hydrogen produced from modular facilities to industrial customers in Canada and the United States through multi-year supply agreements
2. UHP Oxygen Sales: First UHP oxygen sale recorded in the United States as part of multi-molecule industrial gas platform strategy
3. Helium Distribution: Distribution of helium through Industrial Gases Distribution Division, with first delivery of 161,000 cubic feet under three-year supply agreement
4. Hydrogen Supply Contract - Hone Inc. Two-year binding hydrogen supply contract with Hone Inc. for mobile hydrogen power solutions serving film and television production industry

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

CHARBONE Corporation produces ultra-high-purity (UHP) green hydrogen and distributes industrial gases (helium, UHP oxygen) through modular decentralized production facilities powered by renewable energy. The company serves industrial enterprise customers in semiconductors, AI data centers, pharmaceuticals, aerospace, and film/entertainment under multi-year supply agreements via a hub-and-spoke regional distribution model.

Product overview

CHARBONE Corporation operates as an integrated company specializing in Ultra High Purity (UHP) hydrogen and strategic industrial gas distribution across North America and Asia-Pacific. The company's product portfolio is organized around its HyChem™ brand family: HyChem UHP™ provides ultra-high-purity hydrogen (up to 99.999%), HyChem Eco™ delivers decarbonized zero-emission hydrogen production, and HyChem™ offers compressed hydrogen in various formats and pressures. The company has expanded beyond pure hydrogen into a multi-molecule platform including helium and UHP oxygen, delivered through a network of modular production facilities and regional supply hubs.

Differentiator

Problem solved

Functional benefit

Brands

• HyChem UHP: Ultra High Purity hydrogen product line reaching up to 99.999% purity (Grade +5.0) for technology industries, mobility, and research centers.
• HyChem Eco
• HyChem

Products and services

• HyChem UHP™ Ultra-high-purity hydrogen product line reaching up to 99.999% purity (Grade +5.0), meeting the strictest requirements of technology industries, mobility, and research centers.
• HyChem Eco™ Fully decarbonized green hydrogen production and distribution line with zero CO2 emissions, produced from modular units powered exclusively by local renewable energy sources.
• HyChem™ Compressed Hydrogen Complete compressed hydrogen offering under the HyChem brand, available in different formats and pressures to meet needs for thermal treatment, heavy industry, or high-volume use applications.
• Helium Distribution Specialty industrial helium supplied through partnerships with other producers and distributed alongside hydrogen products to diversify revenue streams.
• UHP Oxygen Ultra-high-purity oxygen for industrial applications, representing the company's expansion into multi-molecule UHP industrial gases beyond hydrogen.

Quantifiable outcome

• Each generator operating day displaces more than 1.5 tonnes of CO2 compared with diesel-powered alternatives
• +3 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered strategic, major, core and minor.

• Vema HydrogenstrategicStrategic or Co-development Partner · 19 May 2026Supply chain partnership for hydrogen from wellheads in Quebec to serve industrial gas demand and reduce transportation costs
• GE VernovastrategicStrategic or Co-development Partner · 5 May 2026Agreement related to establishing scalable hydrogen supply chain as part of gas-plus-nuclear approach for powering communities and fueling AI leadership
• Green Hydrogen ASIAPAC SDN BHDstrategicStrategic or Co-development Partner · 21 April 2026Equity participation partnership for Malaysian expansion serving semiconductors and electronics sector. CHARBONE confirmed intention to participate and operate in Green Hydrogen ASIAPAC as Asian hub development
• Major US Industrial Gases ProducermajorStrategic or Co-development Partner · 20 October 2025Strategic alliance and multiple supply agreements with a major US industrial gases producer to expand product offerings and strengthen market position in specialty gases including helium. Partnership enables operational flexibility, diversified revenue streams, and accelerated growth in specialty gases sector
• Hone Inc.majorChannel Partner/ Reseller/ Distributor · 20 October 2025Two-year binding hydrogen supply contract for mobile hydrogen power solutions serving film and television production industry. Hone operates 165kW trailer-mounted hydrogen internal combustion engine generators, with each generator day displacing more than 1.5 tonnes of CO2 vs diesel
• Superior PlusstrategicChannel Partner/ Reseller/ Distributor · 14 October 2025Five-year hydrogen supply contract for Ontario market, marking major milestone in commercial expansion. Partnership for sale and distribution of green hydrogen
• Harnois ÉnergiesmajorStrategic or Co-development Partner · 7 October 2025Acquisition of hydrogen production assets from Harnois Énergies to accelerate clean UHP hydrogen production at Sorel-Tracy, including equipment dismantling and transfer
• Hydro-QuébeccoreTechnology or Integration · 5 May 2025Grid interconnection partnership providing renewable electricity for hydrogen production at Sorel-Tracy facility. Hydro-Québec confirmed interconnection date for green hydrogen production
• ABBstrategicTechnology or Integration · 13 March 2025Strategic agreement to accelerate green hydrogen production facilities in North America, leveraging ABB's automation and electrification expertise for modular hydrogen plants
• NEK Community BroadbandminorChannel Partner/ Reseller/ Distributor · 28 November 2023Green hydrogen supply agreement with Vermont-based NEK Community Broadband for clean energy applications
• EBC Inc.coreImplementation/ SI/ Consulting Partner · 16 October 2023Construction partnership for Phase I of Sorel-Tracy green hydrogen production facility in Quebec
• Northwoods Hydropower Inc.strategicStrategic or Co-development Partner · 15 December 2022Acquisition of hydroelectric facilities in Michigan (Shawano, Wisconsin) to power green hydrogen production with renewable electricity
• ELOGENstrategicTechnology or Integration · 17 November 2022Electrolyzer manufacturer partnership to secure up to 100 megawatts of electrolyzer capacity for hydrogen production

Scale indicators17 records

Recent moves13 records

Expansion highlights8 records

Broad incumbents

• Air Products and Chemicals: Major US-headquartered industrial gas producer with significant hydrogen and helium capacity and active green hydrogen project development. Targets similar end markets as CHARBONE and serves as the benchmark for multi-year supply agreement economics in UHP gases.
• Air Liquide: Global industrial gas giant producing hydrogen, helium, and oxygen via centralized production and extensive pipeline/distribution networks. Directly competes with CHARBONE for semiconductor and aerospace UHP gas customers but serves a much broader customer base; CHARBONE explicitly hired an Air Liquide veteran for operations credibility.
• Linde plc: World's largest industrial gas company with comprehensive hydrogen, helium, and oxygen production. Overlaps directly with CHARBONE's UHP gas portfolio and end markets (semiconductors, pharma, aerospace) but operates at vastly larger scale through centralized plants and global logistics infrastructure.
• Messer Group: Largest privately held industrial gas company, producing and distributing hydrogen, helium, oxygen, and specialty gases across Americas, Europe, and Asia. Competes in overlapping end markets and offers comparable product portfolio to CHARBONE's multi-molecule UHP platform.

Direct peers

• Plug Power: US-based green hydrogen producer and fuel cell developer with a comparable profile as a publicly traded hydrogen pure-play. Operates hydrogen production and distribution targeting mobility and industrial applications, providing the closest public-market comparable for CHARBONE's pre-scale, capital-raising profile.

Peers

• Cummins (Accelera by Cummins):

Emerging players

• McPhy Energy: French electrolyzer and hydrogen production equipment specialist serving industrial mobility applications across Europe. Comparable as a publicly traded European green hydrogen pure-play focused on modular production units similar in concept to CHARBONE's decentralized model.
• ITM Power: UK-based PEM electrolyzer manufacturer and green hydrogen project developer with modular production concepts. Directly comparable as a publicly traded modular hydrogen equipment producer targeting industrial decarbonization, though primarily equipment-focused versus CHARBONE's end-to-end production and distribution model.
• Nel ASA: Norwegian electrolyzer manufacturer and hydrogen production company providing PEM and alkaline electrolyzer technology—the core technology CHARBONE uses for UHP production. Comparable as a publicly traded pure-play in green hydrogen infrastructure with a similar pre-scale, capital-raising profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights2 records

Customer concentration

• LinkedInlinkedin.com/company/charbone-corporation
• Xx.com/charbone_news
• Facebookfacebook.com/100083276202448

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds8 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CHARBONE