SusGlobal Energy Corp. reported a net loss of $1.52 million for the three-month period ending March 31, 2026, a decrease from a loss of $1.88 million during the same period in 2025. The company did not generate any revenue in the latest quarter, compared to $6,345 in the previous year. The total cost of sales for the first quarter of 2026 was $74,529, significantly lower than $450,720 in the prior year, primarily due to the cessation of waste acceptance at its Belleville Facility since January 10, 2024, following compliance issues with the Ministry of the Environment, Conservation and Parks (MECP).
Total operating expenses increased to $1.03 million in Q1 2026 from $709,930 in Q1 2025. This rise was attributed to higher interest expenses, which grew to $399,408 from $348,090, and a notable foreign exchange loss of $300,875, compared to a gain of $20,197 in the previous year. The accumulated deficit as of March 31, 2026, stood at $53.63 million, up from $52.12 million at the end of 2025, reflecting ongoing financial challenges.
In terms of operational developments, SusGlobal's total assets decreased to $8.63 million from $8.84 million at the end of 2025, while total liabilities rose to $41.20 million from $40.45 million. The company continues to face a working capital deficit of $41.17 million, indicating significant financial strain. As of March 31, 2026, the company had no cash on hand and is actively seeking funding to address its obligations and operational needs.
Strategically, SusGlobal has been focused on addressing compliance issues at its Belleville Facility, which has been non-operational since January 2024. The company is also in the process of selling its Hamilton Facility, which was listed for sale in 2024 and is expected to generate proceeds that could help alleviate some financial pressures. The company has indicated that it requires approximately $4 million to fund capital requirements and general corporate expenses over the next 12 months.
Looking ahead, SusGlobal's ability to continue as a going concern is contingent upon securing necessary financing and achieving profitable operations. The company has expressed uncertainty regarding its ability to raise funds on acceptable terms, which could significantly impact its future operations and financial stability.
About SusGlobal Energy Corp.
SusGlobal Energy Corp. specializes in waste-to-energy and regenerative products, focusing on organic waste management, anaerobic digestion, and composting. It provides services to municipalities and commercial clients, converting organic residuals into biogas, fertilizers, and carbon credits. The company leverages proprietary technologies, environmental permits, and a circular economy approach to reduce greenhouse gases and promote sustainable waste solutions globally.
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