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GUELPH, ON - Zentek Ltd. (Nasdaq:ZTEK)(TSX-V:ZEN), a company specializing in intellectual property development and commercialization, has announced the sale of its ZenGUARD™ Enhanced Air Filters to the Forensic Services and Coroner’s Complex (FSCC) in Toronto, Ontario. The facility, managed by Dexterra Group Inc., has issued a purchase order to Zentek for the installation of these filters throughout its premises. The announcement comes as Zentek’s stock approaches its 52-week high of $1.53, having gained nearly 87% over the past six months, according to InvestingPro data.
The procurement of ZenGUARD™ filters by FSCC, a facility known for its commitment to sustainability and innovation, signals a growing interest in Zentek’s technology in the Canadian market. This interest is further evidenced by the company’s anticipation of increased demand from the Government of Canada and its existing distribution agreements. While InvestingPro analysis indicates Zentek is currently operating with weak gross profit margins, the company maintains a moderate debt level with a debt-to-equity ratio of just 0.05.
Zentek’s ZenGUARD™ technology, which incorporates graphene and silver, is designed to enhance viral filtration efficiency in HVAC systems without relying on denser filters that could lead to increased energy consumption. This aligns with the facility’s goals of improving indoor air quality and building decarbonization initiatives.
James Quinn, Facility General Manager at FSCC, expressed confidence in the potential of graphene to improve indoor air quality solutions. Quinn’s team at Dexterra, which oversees a wide array of infrastructure management services across Canada and the U.S., plans to adopt the ZenGUARD™ Enhanced Air Filters and collaborate with Zentek on developing additional graphene-enhanced air quality solutions.
Greg Fenton, CEO of Zentek, remarked on the significance of the partnership with Dexterra and the opportunity it presents for increasing the adoption of ZenGUARD™ filters in Canada. He emphasized the alignment with Zentek’s vision of leveraging nanotechnology for a healthier and safer world.
Zentek is certified under ISO 13485:2016 and focuses on the research, development, and commercialization of novel products. The company’s patented ZenGUARD™ technology aims to offer competitive advantages to its commercial partners by enhancing the performance and environmental impact of their products.
This news is based on a press release statement from Zentek Ltd. and does not reflect any endorsement or opinion on the claims made. The company cautions that forward-looking statements contained in the press release involve risks and uncertainties and are subject to change. Zentek does not undertake any obligation to update these statements beyond what is required by law. For deeper insights into Zentek’s financial health and growth prospects, including 12 additional exclusive ProTips and comprehensive financial metrics, visit InvestingPro.
In other recent news, Zentek Ltd. announced significant advancements in their avian influenza countermeasure project, which has moved to the testing phase. This project, funded by Canada’s Innovative Solutions Canada Testing Stream, aims to develop a solution for the avian influenza A(H5N1) and has shown promising results in early phases. Zentek’s collaboration with McMaster University has led to the selection of lead monomers for further testing, with the lead candidate meeting government contract performance metrics. Additionally, Zentek revealed that its ZenGUARD™ Enhanced Air Filters have retained their viral filtration efficiency after 20 months, crucial for their classification as a Class I medical device. Testing by LMS Technologies, Inc. confirmed that the aged filters maintained a viral filtration efficiency of 38.1%, nearly identical to their original performance. The company is in the process of finalizing documentation to support the manufacture and sale of these filters under Canadian Medical Device Regulations. CEO Greg Fenton expressed satisfaction with the progress, noting the filters’ efficacy in reducing infectious bioaerosols. Zentek holds a global exclusive license for an aptamer-based platform technology developed by McMaster University.
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