Zentek (NASDAQ: ZTEK) inks AETC deal for Albany graphite PEA

(Neutral)

Form Type

6-K

Rhea-AI Filing Summary

Zentek Ltd., through its subsidiary Albany Graphite Corp., has signed an agreement with American Energy Technologies Co. to supply certified ultra-high-purity graphite samples and process-engineering inputs for the Preliminary Economic Assessment of the Albany Graphite Project being prepared by Micon International.

AETC will produce 4N, 4N+, and 5N+ graphite samples from Albany flotation concentrate with Certificates of Analysis and design a conceptual chlorine-free purification facility targeting 30,000 metric tonnes per year of feedstock. Three independent workstreams—Micon on engineering and economics, AppEco on market pricing, and AETC on process design and certified product—are now active, with key deliverables and the PEA targeted for completion in summer 2026.

Key Figures

Albany concentrate shipped: 78 kilograms 4N graphite samples: 3 kg at 99.99% Cg 4N+ graphite samples: 4 kg at 99.99+% Cg +5 more

8 metrics

Albany concentrate shipped 78 kilograms Albany flotation concentrate shipped from SGS Canada to AETC

4N graphite samples 3 kg at 99.99% Cg AETC to manufacture from Albany flotation concentrate

4N+ graphite samples 4 kg at 99.99+% Cg AETC certified product for advanced buyers

5N+ graphite samples 4 kg at 99.999+% Cg AETC certified product from Albany concentrate

Purification facility capacity 30,000 metric tonnes per annum Conceptual chlorine-free purification plant using Albany flotation concentrate

Bench-scale purity achieved 99.9992% Cg Albany graphite ultra-high purity with 2.60 ppm equivalent boron

Initial sample timing May 2026 1.5 kg per grade of certified graphite targeted for completion

Engineering completion target June 2026 AETC process-engineering deliverables aligned with PEA schedule

Key Terms

Preliminary Economic Assessment, Certificates of Analysis, electrothermal fluidized bed reactor, nameplate capacity, +2 more

6 terms

Preliminary Economic Assessment financial

"deliver the process engineering inputs for the Preliminary Economic Assessment ("PEA") of the Albany Graphite Project"

A preliminary economic assessment is an initial analysis that estimates the potential profitability and feasibility of a project or resource, such as a new mineral deposit or development venture. It provides a rough idea of costs, benefits, and risks, helping investors decide whether to pursue more detailed studies. This early evaluation is important because it offers a snapshot of whether the project is worth further investment and development.

Certificates of Analysis technical

"with Certificates of Analysis ("CoAs") issued for each grade"

A certificate of analysis is a lab report that lists the measured makeup, purity and any contaminants of a product batch, like a detailed inspection sticker for that shipment. Investors use it to verify that a company’s products meet regulatory standards and quality claims, which affects sales, recalls, legal risk and brand trust—similar to how a car’s safety report influences its resale value and buyer confidence.

electrothermal fluidized bed reactor technical

"using a chlorine-free electrothermal fluidized bed reactor ("FBR") process"

An electrothermal fluidized bed reactor is an industrial vessel that keeps fine solid particles gently suspended by a flow of gas while electric heating controls their temperature; think of grains tumbling in a boiling pot of hot air that’s heated by electricity rather than a flame. Investors care because this design can speed up chemical reactions, improve product consistency, cut fuel use and emissions, and scale efficiently—factors that directly affect production costs, profit margins and regulatory risk.

nameplate capacity financial

"a purification facility with a nameplate capacity of 30,000 metric tonnes per annum"

Nameplate capacity is the maximum output a power plant, factory, or piece of equipment can produce under ideal conditions, as specified by the manufacturer. Investors care because it sets the upper limit on potential revenue and growth—actual earnings depend on how often and efficiently that capacity is used, similar to a car’s top speed versus how fast you actually drive in daily traffic.

Foreign Entity of Concern regulatory

"Foreign Entity of Concern provisions, the Canadian Critical Minerals Strategy"

A foreign entity of concern is a company, organization, or government outside the country that regulators see as posing national security, economic, or regulatory risks — for example because of ownership, links to sensitive technologies, or involvement in restricted activities. For investors it signals potential legal limits, sanctions, or forced divestment; think of it like a risky tenant whose presence can limit what a landlord can do with a property and may reduce its value or marketability.

National Instrument 43-101 regulatory

"a "Qualified Person" under National Instrument 43-101, has reviewed and approved the technical information"

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Form 6-K: How Foreign Companies Report to the SEC →

Accepted by SEC EDGAR 04/22/2026 - 10:21 AM

FAQ

What agreement did Zentek (ZTEK) announce for the Albany Graphite Project?

Zentek announced that its subsidiary Albany Graphite Corp. signed an agreement with American Energy Technologies Co. AETC will manufacture certified ultra-high-purity graphite samples and provide process-engineering inputs that feed directly into Micon International’s Preliminary Economic Assessment of the Albany Graphite Project.

How does the AETC agreement support Zentek’s Albany PEA?

The AETC agreement supplies independently certified graphite products and process-engineering data for the Albany project. These inputs, combined with Micon’s engineering and AppEco’s market-pricing work, create three independent workstreams that collectively underpin the PEA’s technical and commercial assumptions across nuclear, defence, battery, and specialty markets.

What graphite purities and sample sizes are planned for Albany material?

AETC will produce 3 kilograms of 4N (99.99% Cg), 4 kilograms of 4N+ (99.99+% Cg), and 4 kilograms of 5N+ (99.999+% Cg). All will be manufactured from Albany flotation concentrate and accompanied by Certificates of Analysis to support qualification with advanced industrial buyers.

What is the planned scale of the Albany graphite purification facility?

AETC will design a conceptual multi-phase purification facility targeting 30,000 metric tonnes per annum of Albany flotation concentrate feedstock. The design will cover multiple product lines, including nuclear applications, synthetic diamonds, premium lithium-ion battery anodes, and specialty coatings and dispersions, using a chlorine-free electrothermal FBR process.

When are key Albany graphite samples and engineering deliverables expected?

Initial graphite samples of 1.5 kilograms per purity grade are targeted for May 2026. Full sample quantities with Certificates of Analysis are expected by July 2026. AETC’s process-engineering package is targeted for June 2026, aligning with Micon’s timeline to complete the Albany PEA in summer 2026.

What co-product opportunities is Zentek assessing at Albany Graphite?

AppEco is independently evaluating 18 potential critical mineral co-products, including rare earth elements, lithium, scandium, yttrium, niobium, and molybdenum. AETC will analyze gypsum byproduct from the FBR process to see if it qualifies as a marketable co-product, providing the first independent data for AppEco’s co-product valuation work.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2026

Commission File Number: 001-41310

ZENTEK LTD.

(Registrant)

1123 York Road in

Guelph, Ontario N1G 5G5 Canada

(Address of Principal Executive Offices)

Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐ Form 40-F ☒

Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the Registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	ZENTEK LTD.
	(Registrant)

Date: April 21, 2026	By	/s/ Wendy Ford
		Wendy Ford
		Chief Financial Officer

EXHIBIT INDEX

Exhibit	Description of Exhibit

99.1	Press Release dated April 21, 2026 - Albany Graphite Executes Agreement with AETC for Certified Samples and Process Engineering, Completing the Set of Three Independent Workstreams Feeding the PEA

Albany Graphite Executes Agreement with AETC for Certified
Samples and Process Engineering, Completing the Set of Three
Independent Workstreams Feeding the PEA

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 across
nuclear, defence, battery, and specialty markets

April 21, 2026 - Guelph, Ontario - Zentek Ltd. ("Zentek" or the "Company") (TSXV: ZEN) (NASDAQ: ZTEK) today 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 (the "Project"), currently being prepared by Micon International Limited ("Micon").

Why This Matters for the PEA

The credibility of a PEA rests on the independence and quality of the inputs beneath it. 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. ("AppEco") 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 by the Company 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 technical foundation on which Micon's PEA is being built. 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 - the exact buyer categories for which AppEco is independently developing purity-specific pricing and demand data. Together, independently certified product and independently verified market pricing are designed to provide institutional investors and strategic partners with a basis for evaluating Albany's positioning in those markets that does not rely on company-generated assumptions.

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 ("TPA") 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.

AETC's deliverables include:

1. High-level preconceptual economic analysis incorporating product mix definition, projected sales prices by grade, market sizing by end-market, and high-level process line operating cost and profitability estimation

2. Process design criteria for each purification line (4N, 4N+, and 5N+), specifying feed assumptions, recovery targets, impurity limits, safety margins, confidence levels, and scale-up risk identification and mitigation

3. Introductory process descriptions with operating philosophy for each product line as a function of a multi-phase progressive scale-up sequence

4. Preliminary engineering package including block diagrams, process flow diagrams, equipment list, building sizes, and power requirements

5. High-level plant utilities determination for each process line

The process engineering deliverables are targeted for completion in June 2026, consistent with Micon's timeline for PEA completion this summer.

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. As part of the current engagement, 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. Conducted on actual Albany process material, this is expected to represent the first independent data point on co-product recovery to feed AppEco's valuation.

The Commercial Case Taking Shape

The market for certified, domestic, traceable, ultra-high-purity graphite is structurally undersupplied relative to the demand that Western governments and allied-nation industrial buyers are now mobilizing to meet.^1,2 The rapid buildout of small modular reactors across North America is simultaneously creating a new demand category for nuclear moderator-grade graphite that is largely absent from existing market forecasts.^3,4 The U.S. Inflation Reduction Act and its Foreign Entity of Concern provisions, the Canadian Critical Minerals Strategy, Department of Energy funding initiatives, and NATO ally-shoring programs are not directed toward commodity-grade graphite. They are creating demand for graphite that can be certified to a purity specification, traced to a domestic or allied-nation source, and produced without dependence on foreign processing chemistry or inputs - requirements that are making non-Chinese origin an increasingly firm procurement condition in many jurisdictions.^5,6,7

Albany's chlorine-free electrothermal FBR process directly addresses each of those requirements. It has produced 5N+ nuclear-grade graphite from actual Albany feedstock at bench scale without chlorine - a result that is uncommon among graphite projects at this stage and that positions the Project as potentially relevant to the energy security and advanced manufacturing supply chains that governments on both sides of the border are actively funding.

Commentary

"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," said Mohammed (Moe) Jiwan, CEO of Zentek. "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."

"The Certificates of Analysis that AETC will produce from Albany feedstock are not administrative documents - they are the commercial credential designed to support Albany graphite's eligibility for procurement qualification at nuclear programs, defence contractors, and battery manufacturers," continued Mr. Jiwan. "AppEco is building the pricing case for those markets independently. Micon is building the engineering and economic model independently. AETC is now building the certified product that connects the two. We are no longer working from proxy data, analogies to other projects, or theoretical process assumptions. We are working from Albany feedstock, Albany process parameters, and Albany-specific product specifications, with every major input to the PEA coming from independent sources working from the same technical foundation."

"When the PEA is published this summer, we expect it to reflect something that is genuinely rare at this stage of a project's development: an economic model built on independently certified product performance at multiple purity grades, and independently verified market pricing for each of those grades across nuclear, defence, battery, and specialty end-markets - all derived from the same chlorine-free FBR process that has already demonstrated 5N+ purity from Albany graphite without chlorine," said Mr. Jiwan. "Each of those inputs is coming from an independent firm working from actual Albany material: AppEco on market pricing, Micon on engineering and economics, and AETC on process design and certified product. That convergence - three independent workstreams, one technical foundation, one NI 43-101 compliant framework - is what we believe makes this PEA a key milestone in our work to rerate the value of Albany based on its demonstrated potential in high-purity applications. The western world needs domestic, certified, traceable sources of nuclear-grade graphite. Albany has the deposit, the demonstrated process, and now the full engineering and commercial apparatus needed to make that case in a form that the market can independently evaluate."

Mr. Peter Wood, P.Eng., P.Geo., Vice President, Development of AGC, a "Qualified Person" under National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

About Albany Graphite

The Albany Graphite Project is an igneous-hosted graphite deposit located in Northern Ontario, held through the Company's wholly-owned subsidiary Albany Graphite Corp. Independent bench-scale testing conducted in collaboration with American Energy Technologies Company as previously disclosed by the Company on September 22, 2025, has confirmed that Albany graphite achieves ultra-high purity of 99.9992% with an equivalent boron concentration of 2.60 ppm, which meets commonly referenced benchmarks for potential nuclear applications, and has demonstrated near-theoretical electrochemical performance for lithium-ion battery anodes. The project is being advanced as a potential domestic North American source of critical-grade graphite for nuclear, battery, and defence supply chains. Graphite is designated a critical mineral by both the Government of Canada and the United States Department of Energy.

About Zentek

Zentek Ltd. is a Canadian intellectual property development and commercialization company advancing a portfolio of graphene-enabled and advanced material technologies across clean air, next-generation materials, and critical minerals. The Company's core platforms are Albany Graphite, ZenGUARD™, and Triera. The Albany Graphite Project is the Company's principal critical minerals asset and is currently advancing toward a Preliminary Economic Assessment targeted for completion in the summer of 2026.

About AETC

American Energy Technologies Co. is a technology and engineering firm based in Wheeling, Illinois, with capabilities spanning graphite powders, engineering services, synthetic diamonds, specialty battery materials, and high-temperature technologies. Further information is available at www.usaenergytech.com.

Forward-Looking Statements

This news release contains forward-looking statements. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although Zentek believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Zentek disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

References (public)

¹ U.S. Geological Survey (USGS). "2022 Final List of Critical Minerals" (Federal Register notice; Feb. 24, 2022). https://www.federalregister.gov/documents/2022/02/24/2022-04027/2022-final-list-of-critical-minerals

² Natural Resources Canada. "Government of Canada Releases Updated Critical Minerals List" (News release; June 10, 2024). https://www.canada.ca/en/natural-resources-canada/news/2024/06/government-of-canada-releases-updated-critical-minerals-list.html

³ Canada Energy Regulator. "Market Snapshot: Canada's role in small modular reactor (SMR) technology" (Aug. 20, 2025). https://www.cer-rec.gc.ca/en/data-analysis/energy-markets/market-snapshots/2025/market-snapshot-canadas-role-in-small-modular-reactor-smr-technology.html

⁴ U.S. Nuclear Regulatory Commission (NRC). "Advanced Reactor Highlights". https://www.nrc.gov/reactors/new-reactors/advanced/highlights/index.html

⁵ Natural Resources Canada. "The Canadian Critical Minerals Strategy" (2022). https://www.canada.ca/en/campaign/critical-minerals-in-canada/canadian-critical-minerals-strategy.html

⁶ U.S. Department of the Treasury / Internal Revenue Service. "Clean Vehicle Credits Under Sections 25E and 30D; Transfer of Credits; Critical Minerals and Battery Components; Foreign Entities of Concern" (Final regulations; May 6, 2024; T.D. 9995). https://www.federalregister.gov/documents/2024/05/06/2024-09094/clean-vehicle-credits-under-sections-25e-and-30d-transfer-of-credits-critical-minerals-and-battery

⁷ U.S. Department of Energy. "Foreign Entity of Concern (FEOC) Interpretive Guidance" (May 2024). https://www.energy.gov/cmei/manufacturing/foreign-entity-concern-interpretive-guidance

For more information:

Mohammed (Moe) Jiwan

Chief Executive Officer, Zentek Ltd.

T: 416-709-8876

E: mjiwan2@zentek.com

W: www.zentek.com

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

1 document

Press Releases

EX-99.1 EXHIBIT 99.1 21.7 KB