AETC to manufacture 4N, 4N+, and 5N+ graphite samples with Certificates of Analysis from Albany feedstock and deliver process engineering inputs for Micon's PEA, including conceptual design for a chlorine-free purification facility targeting 30,000 metric tonnes per year.
Guelph, Ontario — April 21, 2026 — Zentek Ltd. (TSXV: ZEN) (NASDAQ: ZTEK) announces that its wholly-owned subsidiary Albany Graphite Corp. ("AGC") has executed an agreement with American Energy Technologies Co. ("AETC") of Wheeling, Illinois to manufacture certified graphite samples and deliver the process engineering inputs for the Preliminary Economic Assessment ("PEA") of the Albany Graphite Project, currently being prepared by Micon International Limited.
Why This Matters for the PEA
With the execution of this agreement, all three independent workstreams feeding the Albany PEA are now simultaneously active: Micon on engineering and economics, AppEco Inc. on market pricing and demand, and AETC on process design and certified product. Approximately 78 kilograms of Albany flotation concentrate has already been shipped from SGS Canada to AETC's Wheeling facility, and work is underway.
From Bench Scale to Certified Product
As previously disclosed on September 22, 2025, AETC's prior work established that Albany graphite achieves 5N+ purity (99.9992 wt.% Cg) at bench scale using a chlorine-free electrothermal fluidized bed reactor ("FBR") process. The current engagement advances that result from laboratory proof to independently certified product: AETC will manufacture 3 kg of 4N (99.99% Cg), 4 kg of 4N+ (99.99+% Cg), and 4 kg of 5N+ (99.999+% Cg) graphite directly from Albany flotation concentrate, with Certificates of Analysis ("CoAs") issued for each grade.
CoAs are the threshold credential for entry into the procurement processes of nuclear programs, defence prime contractors, and advanced battery manufacturers. Initial samples of 1.5 kg per grade are targeted for completion in May 2026, with full sample quantities and Certificates of Analysis expected to be completed in July 2026.
Process Engineering Scope
AETC will develop a conceptual multi-phase scale-up design for a purification facility with a nameplate capacity of 30,000 metric tonnes per annum of Albany flotation concentrate feedstock, serving product lines across nuclear and near net shape parts, synthetic diamonds, premium lithium-ion battery anodes, and specialty coatings and dispersions markets. Deliverables include process design criteria for each purification line (4N, 4N+, and 5N+), preliminary engineering packages including block diagrams, process flow diagrams and equipment lists, and high-level plant utilities determination. Process engineering deliverables are targeted for completion in June 2026.
Co-Product Development
AppEco is independently assessing the potential value of 18 critical mineral co-products — including 13 rare earth elements plus lithium, scandium, yttrium, niobium, and molybdenum — potentially recoverable from the FBR scrubber exhaust without the need for additional reactor capital, subject to further engineering and recovery assumptions. AETC will additionally conduct elemental analysis of the gypsum byproduct generated by the same FBR process to assess whether it qualifies as a marketable co-product.
CEO Comment
"Most graphite development projects are evaluated against commodity pricing benchmarks that bear little resemblance to what nuclear programs, defence primes, and advanced battery manufacturers actually pay for certified, performance-grade material. Those buyers are not procuring against commodity flake graphite price benchmarks. They are procuring against certified purity specifications, documented supply chain origin, and process chemistry independent of foreign inputs. Those are the questions we are now systematically building the evidence to answer, with independent firms generating each piece of that evidence from actual Albany material." — Mohammed (Moe) Jiwan, CEO, Zentek Ltd.
Mr. Peter Wood, P.Eng., P.Geo., Vice President, Development of Albany Graphite Corp., a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
This news release contains forward-looking statements. Forward-looking statements are based on current expectations and assumptions subject to risks and uncertainties that may cause actual results to differ materially. The Company undertakes no obligation to update forward-looking statements except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.