Zentek CEO Greg Fenton to exit in 2026 as firm shifts focus

GUELPH, Ontario - Zentek Ltd. (NASDAQ:ZTEK)(TSX-V:ZEN), a $112.5 million market cap technology company, announced Friday that CEO Greg Fenton’s consulting contract will not be extended when it expires on March 31, 2026, as the company prepares to transition from research and development to commercialization. According to InvestingPro data, the company has achieved remarkable revenue growth of over 2,800% in the last twelve months, though it remains in pre-profit stage.

The intellectual property technology development company has begun searching for Fenton’s successor. Until a replacement is appointed, the current executive team will continue to lead the company, according to a press release statement. Trading at $1.08, InvestingPro analysis indicates the stock is currently in oversold territory, with multiple additional insights available to subscribers.

"On behalf of the Board, I want to thank Greg for guiding Zentek on its path of growth and diversification over the past seven years, and for his stewardship of the business," said Eric Wallman, Chairman of the board of directors.

Zentek, an ISO 13485:2016 certified company based in Guelph, Ontario, focuses on developing products that provide commercial partners with competitive advantages. The company’s patented ZenGUARD technology platform is designed to increase bacterial and viral filtration efficiency for surgical masks and HVAC filters.

The company also holds a global exclusive license to an aptamer-based platform technology developed by McMaster University through its wholly owned subsidiary, Triera Biosciences Ltd.

The board stated it is committed to finding a new Chief Executive Officer who will advance the company’s commercialization efforts. Despite operating with moderate debt levels and maintaining a healthy current ratio of 1.25, the company faces the challenge of improving its profitability metrics, as revealed by detailed financial analysis available on InvestingPro.

In other recent news, Zentek Ltd. has announced several key developments. The company reported a new partnership with RSK Environment Ltd., which will market Zentek’s ZenGUARD™ Enhanced Air Filters in over 20 countries. This collaboration aims to expand Zentek’s presence in the Gulf Cooperation Council region by leveraging RSK’s expertise in environmental services. Additionally, Zentek secured an order for its ZenGUARD™ Enhanced Air Filters from the Forensic Services and Coroner’s Complex in Toronto, managed by Dexterra Group Inc. This order reflects growing interest in Zentek’s technology in Canada, aligning with the facility’s sustainability and innovation goals.

Zentek is also advancing its avian influenza countermeasure to the testing phase, following the successful completion of the first phase of a contract with the Government of Canada. This project, funded by Canada’s Innovative Solutions Canada Testing Stream, aims to create a solution for the highly pathogenic avian influenza A(H5N1). The company has collaborated with the Li Lab at McMaster University to develop multivalent aptamers, showing promising results in neutralizing the virus in vitro. Zentek’s CEO, Greg Fenton, expressed gratitude for the support received from various Canadian government departments in this endeavor. These recent developments highlight Zentek’s ongoing efforts in expanding its market reach and advancing its technological innovations.

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