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GUELPH, Ontario - Zentek Ltd. (NASDAQ:ZTEK)(TSX-V:ZEN), a $98 million market cap technology company operating with moderate debt levels, has appointed CFO Wendy Ford as interim CEO following the resignation of Greg Fenton on September 3, according to a press release statement. According to InvestingPro data, the company has shown strong momentum with a 29% return over the past year, despite not yet achieving profitability.
The company’s board has engaged Lock Search Group to conduct a comprehensive search for a permanent CEO to lead Zentek’s next growth phase.
Zentek continues to advance commercialization of its ZenGUARD Enhanced Air Filters, which demonstrated 42% infectious aerosol removal efficiency in recent tests compared to 16% for untreated filters. The company reports these filters maintain performance without increasing pressure drop or energy consumption in existing HVAC systems. With revenue of $0.68 million in the last twelve months and a gross margin of 18.7%, the company maintains a healthy current ratio of 1.62, indicating strong short-term liquidity to support its growth initiatives.
The company is building a sales team to target commercial, institutional, government, education, and healthcare sectors across Canada. Zentek is also exploring partnerships with electrical utility companies interested in technologies that reduce energy consumption.
Zentek will present at the ASHRAE IEQ 2025 Conference in Montreal on Wednesday, showcasing data on how its air filters deliver pathogen removal and energy savings.
Internationally, the company is working with manufacturing partners in the Middle East, India, and South America to expand its market presence. In the Middle East, Zentek is collaborating with Saudi-based Filtration Solutions Industrial Co. and has engaged commission-based representatives to accelerate commercialization.
The company’s Albany Graphite Corp. subsidiary recently purified graphite to 99.9992% purity with an Equivalent Boron Concentration of 2.60 ppm, meeting requirements for nuclear industry applications.
Zentek’s annual general meeting is scheduled for Thursday, September 25, at the offices of Norton Rose Fulbright Canada LLP in Toronto. For investors seeking deeper insights into Zentek’s financial health and growth potential, InvestingPro offers exclusive analysis with 6 additional ProTips and comprehensive financial metrics to help inform investment decisions.
In other recent news, Zentek Ltd. has completed initial in vivo testing of a lead candidate countermeasure for seasonal influenza (H1N1) under the Innovative Solutions Canada Testing Stream. The company received approximately $1.1 million from the Government of Canada for this project, in collaboration with Health and Emergency Preparedness Canada and Defence Research and Development Canada. Additionally, Zentek announced updates to its board of director nominees for the upcoming annual general meeting, proposing four independent directors, including two new nominees.
In a significant leadership change, Greg Fenton has resigned as CEO to lead Altek Advanced Materials Inc., with Wendy Ford stepping in as interim CEO. Zentek is also preparing for a leadership transition as Fenton’s consulting contract will not be extended beyond March 31, 2026, as the company shifts its focus from research and development to commercialization. The search for a permanent CEO is underway, with the current executive team maintaining leadership in the interim.
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