Zentek Subsidiary Albany Graphite Corp. Achieves Near-Theoretical Anode Performance in Battery Suitability Independent Testing

Rhea-AI Summary

Zentek (Nasdaq:ZTEK) reported that subsidiary Albany Graphite achieved near-theoretical anode performance in independent lithium-ion coin cell tests on December 17, 2025. Carbon-coated, spheroidized Albany graphite delivered an average reversible capacity of 367.35 mAh/g, ~1.3% below the 372 mAh/g theoretical maximum, with average capacity retention >b>94% versus Li/Li+ over ~110–120 cycles and irreversible capacity loss of 7.0%–8.3%. Tests used industry-standard C/10 rate and electrode loadings near 10 mg/cm². A 50/50 blend of spheroidization rejects with NMC622 performed comparably as a conductive additive, suggesting higher yield and process efficiency for battery-grade graphite production.

Positive

• Reversible capacity 367.35 mAh/g (~1.3% below theoretical)
• Capacity retention above 94% over ~110 cycles
• Byproduct utilization 50/50 blend with NMC622 matched benchmark performance
• Industry-standard testing at C/10 and ~10 mg/cm² loading

Negative

• Irreversible capacity loss of 7.0%–8.3% reported
• Limited cycle count testing only ~110–120 cycles (lab-scale coin cells)

Key Figures

Average reversible capacity 367 mAh/g Albany graphite coin cell tests vs theoretical graphite capacity

Reversible capacity detail 367.35 mAh/g Stated average in lithium-ion coin cell testing

Theoretical maximum 372 mAh/g Theoretical maximum capacity for natural graphite anodes

Cycle life as additive ≈110 cycles Stable performance as conductive additive in cycling tests

Cycle life as anode 110–120 cycles Stable performance as main anode active material

Irreversible capacity loss 7.0%–8.3% Loss range reported over cycling tests

Capacity retention Above 94% Retention vs Li/Li⁺ counter electrode over cycling

Graphite blend ratio 50/50 Spheroidization rejects blended with NMC622 cathode material

Market Reality Check

$0.6750 Last Close

Volume Volume 19,202 is below the 20-day average of 42,331, suggesting limited pre-news positioning. low

Technical Shares at $0.65 were trading below the $1.02 200-day MA and 64.7% under the 52-week high.

Peers on Argus

Peers showed mixed moves, with names like PDEX and UTMD up while ZJYL, MBOT, and KRMD were down, indicating Zentek’s slight -1.52% move was more stock-specific than sector-driven.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 25	Management change	Positive	+5.5%	New CEO appointment with equity incentives to drive commercialization.
Nov 21	Tax reassessment	Negative	-2.7%	CRA notice of reassessment and indemnity exposure for prior financings.
Nov 05	Product licensing	Positive	+9.3%	Launch of GraphGel fire-retardant and exclusive US licence with Altek.
Oct 06	Technical validation	Positive	+8.4%	Albany graphite met nuclear-grade specs in additional characterization tests.
Sep 25	Shareholder meeting	Neutral	-2.3%	All AGM resolutions approved, with board and auditor confirmations.

Pattern Detected

Recent positive operational or product news has often aligned with positive price reactions, while a governance-focused event showed a mild divergence.

Recent Company History

Over the past few months, Zentek reported several technology and corporate milestones. Albany graphite showed nuclear-grade suitability on Oct 6, 2025, followed by a new GraphGel fire-retardant product and US licence on Nov 5, 2025, both with strong positive price reactions. A CRA reassessment on Nov 21, 2025 saw a modest decline, while the CEO appointment on Nov 25, 2025 was received positively. Today’s battery-testing news extends the Albany graphite commercialization narrative.

Market Pulse Summary

This announcement highlights independent testing showing Albany graphite achieving a reversible capacity near the 372 mAh/g theoretical maximum, with over 94% capacity retention and usable byproduct blends. It builds on prior Albany-related validation in nuclear applications, reinforcing Zentek’s materials platform. Investors may watch for scale-up plans, customer trials, and integration into North American battery supply chains to assess how these technical metrics convert into commercial traction.

Key Terms

lithium-ion battery technical

"independent lithium-ion battery testing using ultrahigh purity Albany graphite"

A lithium-ion battery is a rechargeable energy cell that stores and releases power by moving lithium ions between two electrodes, like a pump moving water back and forth to hold and deliver energy. Investors care because these batteries power electric vehicles, portable electronics and grid storage, so factors such as cost, energy density, lifespan, and raw-material supply directly affect manufacturing costs, product competitiveness and long-term company profits.

coin cell technical

"In four‑industrystandard coin cell tests, carbon coated, spheroidized Albany graphite"

A coin cell is a small, flat, round battery about the size of a coin used to power compact electronics such as watches, remote controls, small medical devices, and sensors. Investors care because choice and availability of these batteries affect product reliability, manufacturing cost, safety and regulatory compliance, and replacement or disposal needs—similar to how the right tires affect a car’s performance and upkeep.

anode technical

"near theoretical anode performance in independent lithium-ion battery testing"

An anode is the electrode in a battery, electrochemical cell, or certain medical devices where chemical reactions release electrons that flow out into a circuit; think of it as the exit door for electrical charge. For investors, anode materials and design matter because they strongly influence a product’s efficiency, lifespan, safety and manufacturing cost—key factors that affect a company’s competitive position and future revenue in industries like energy storage and electronics.

reversible capacity technical

"delivered an average reversible capacity of approximately 367 mAh/g"

Reversible capacity is the ability of a storage system, such as a battery, to repeatedly hold and release energy over many cycles without significant loss of performance. It matters to investors because higher reversible capacity indicates longer-lasting and more efficient energy storage, which can lead to better device lifespan and lower costs over time. Essentially, it reflects how well the system can be reused without degrading.

NMC622 cathode technical

"blended 50/50 with NMC622 cathode active material as a conductive additive"

A NMC622 cathode is the positive electrode material in many lithium‑ion batteries made from nickel, manganese and cobalt in a 6:2:2 proportion; it’s used to store and release electrical energy in devices like electric vehicles and grid batteries. Investors care because that specific mix boosts energy capacity and lowers reliance on costly cobalt compared with older recipes, so it influences a battery maker’s cost, vehicle range, supply‑chain risk and safety trade‑offs—like picking car parts that balance power, weight and price.

C/10 charge/discharge rate technical

"All tests were conducted at a C/10 charge/discharge rate and at electrode"

A c/10 charge or discharge rate describes how fast a battery is being charged or drained relative to its capacity: at c/10 the battery is charged or emptied over ten hours. Think of it as filling or emptying a fixed-size bucket with a steady tap—c/10 is a slow, gentle flow that tends to be kinder to battery life and gives a realistic measure of energy capacity under moderate conditions. Investors watch C-rates because they affect how a battery performs in real-world use, its durability, charging time, and the credibility of capacity and life claims.

electrode loadings technical

"C/10 charge/discharge rate and at electrode loadings near 10 mg/cm²"

Electrode loadings measure how much active material is applied to each unit of electrode area in a battery or other electrochemical device — think of it like how thick the filling is on a sandwich slice. For investors this matters because higher loadings can increase the energy stored per cell and lower unit cost, while also introducing manufacturing difficulty and potential performance or lifetime trade‑offs that affect product competitiveness and profit margins.

Li/Li⁺ counter electrode technical

"Average capacity retention was above 94% versus the Li/Li⁺ counter electrode"

A Li/Li⁺ counter electrode is a piece of lithium metal used as the opposite electrode in lab tests of batteries and electrochemical cells; it serves as a stable source and sink for lithium ions so researchers can measure how the other electrode behaves. Think of it as a reference battery or yardstick in experiments—its presence helps produce clear, comparable performance and durability data investors use to judge claims about capacity, charging speed, and longevity.

AI-generated analysis. Not financial advice.

GUELPH, ON / ACCESS Newswire / December 17, 2025 / Zentek Ltd. ("Zentek" or the "Company") (Nasdaq:ZTEK)(TSXV:ZEN) announces that its wholly owned subsidiary, Albany Graphite Corp. ("AGC"), has achieved near theoretical anode performance in independent lithium-ion battery testing using ultrahigh purity Albany graphite. In four‑industrystandard coin cell tests, carbon coated, spheroidized Albany graphite delivered an average reversible capacity of approximately 367 mAh/g - just 1.3% below the theoretical maximum for graphite - with strong cycling stability and efficient processing. These results indicate that Albany graphite has the potential to serve as a high-performance, natural graphite anode material for lithium-ion batteries, supporting Zentek's strategy to build a value-added position in the North American battery supply chain.

RESULTS

Near theoretical anode performance: Albany graphite achieved an average reversible capacity 367.35 mAh/g in lithium-ion coin cell tests, within approximately 1.3% of the theoretical maximum for natural graphite (372 mAh/g). This indicates that Albany graphite can deliver energy storage very close to the expected maximum for graphite anodes, making it a strong candidate for high-performance lithium-ion battery applications and supporting longer runtime for end users.

Stable cycling, reliability and reproducibility: The material showed very stable performance over approximately 110 cycles as a conductive additive and 110-120 cycles as the main anode active material, with no cell failures and irreversible capacity loss between approximately 7.0% and 8.3%. Average capacity retention was above 94% versus the Li/Li⁺ counter electrode, indicating that Albany graphite can withstand repeated charging with limited degradation, an important requirement for commercial battery production.

Efficient use of spheroidization byproduct: High purity spheroidization process "rejects" were successfully blended 50/50 with NMC622 cathode active material as a conductive additive, delivering performance comparable to industry benchmarks while enabling nearly full utilization of graphite processed through the spheroidization process. Using this byproduct improves material yield and supports more cost-efficient and sustainable production of battery grade graphite.

Industry standard testing conditions: All tests were conducted at a C/10 charge/discharge rate and at electrode loadings near 10 mg/cm², which are commonly used in evaluating graphite anode materials. Running at these conditions helps ensure that the results are relevant to commercial cell designs and provides partners and investors with a realistic indication of how Albany graphite may perform when scaled up.

Overall Significance for Battery Applications

Competitive Advantage: Near-theoretical performance could position Albany graphite as a leading choice for high-performance, natural graphite in North America, offering battery makers greater energy density and anode product reliability. Preliminary coin cell cycling tests suggest that the performance of unoptimized Albany anode material could potentially deliver the benefits of the long-term stability of synthetic graphite, while maintaining the near-theoretical capacity available from a natural graphite.

Market Relevance: Testing under simulated real-world conditions means the data could reflect what can be expected in commercial cell production, providing confidence for partners and investors.

Process Efficiency: Maximizing yield and minimizing waste through the use of shaping process byproduct enhances economic value and sustainability, key factors for large-scale battery supply chains.

Mohammed (Moe) Jiwan, CEO of Zentek, added, "We are extremely pleased with these independent results. Achieving near-theoretical performance under industry-standard conditions is a testament to the quality of the Albany material. These results strengthen our value proposition for battery manufacturers seeking high-performance, sustainable graphite solutions."

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

About the Albany Graphite Project

The Albany Graphite Project, is a unique igneous-hosted, fluid-derived graphite deposit, located in Ontario and has been developed to an advanced exploration stage. The project is located northwest of the communities of Constance Lake First Nation and Hearst, Ontario, within 30 km of the Trans-Canada Highway, close to established infrastructure including roads, rail, power transmission lines, and a natural gas pipeline.

About Zentek Ltd.

Zentek is an ISO 13485:2016 certified intellectual property technology company focused on the research, development and commercialization of novel products seeking to give the Company's commercial partners a competitive advantage by making their products better, safer, and greener.

Zentek's patented technology platform ZenGUARD™ is shown to have enhanced viral filtration efficiency for surgical masks and HVAC (heating, ventilation, and air conditioning) systems. Zentek's ZenGUARD™ production facility is in Guelph, Ontario.

For further information:

Investorrelations@zentek.com

Ryan Shacklock
Senior VP, Strategy & Business Development
Email: rshacklock@zentek.com
Phone: 306-270-9610

To find out more about Zentek, please visit our website at www.Zentek.com. A copy of this news release and all material documents in respect of the Company may be obtained on Zentek's SEDAR+ profile at http://www.sedarplus.ca/.

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 and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Such risks and uncertainties include, but are not limited to, operational risks in exploration development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainties involved in the discovery and delineation of mineral deposits, resources or reserves; the uncertainty of resource and reserve estimates and the ability to economically exploit resources and reserves; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of the Company to obtain all permits, consents or authorizations required for its operations and activities; and health and safety and environmental risks. 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 (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Zentek Ltd.

View the original press release on ACCESS Newswire

FAQ

What reversible capacity did Albany Graphite report in the December 17, 2025 tests for ZTEK?

Albany Graphite reported an average reversible capacity of 367.35 mAh/g, about 1.3% below graphite's theoretical 372 mAh/g.

How stable was the Albany Graphite anode performance in ZTEK's independent testing?

Testing showed average capacity retention of above 94% versus Li/Li+ over approximately 110–120 cycles.

What cycling losses were reported for Albany Graphite in ZTEK's December 2025 release?

Irreversible capacity loss ranged from 7.0% to 8.3% during the reported cycles.

Under what conditions were ZTEK's Albany Graphite coin cell tests run?

All tests were conducted at a C/10 charge/discharge rate and electrode loadings near 10 mg/cm².

Can Albany Graphite spheroidization byproduct be used in batteries according to ZTEK's tests?

Yes; a 50/50 blend of spheroidization rejects with NMC622 as a conductive additive delivered performance comparable to industry benchmarks.

What does the December 17, 2025 test result mean for ZTEK shareholders (ZTEK)?

The results indicate Albany Graphite may be a high-performance natural graphite anode candidate, supporting Zentek's strategy to build value in the North American battery supply chain.