Zentek Ltd. (ZTEK): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo de la nanotecnología de vanguardia, Zentek Ltd. (Ztek) emerge como una fuerza pionera, transformando materiales avanzados de conceptos científicos abstractos en soluciones tangibles y revolucionarias. Al aprovechar estratégicamente las tecnologías de grafeno y nanomateriales, esta empresa innovadora está preparada para interrumpir múltiples industrias, desde la atención médica hasta la electrónica, a través de su combinación única de colaboración académica, investigación intensiva y desarrollo innovador de propiedades intelectuales. Sumérgete en el lienzo de modelo de negocio meticulosamente elaborado de Zentek para descubrir cómo esta organización dinámica está redefiniendo las posibilidades tecnológicas y creando valor a nivel microscópico.

Zentek Ltd. (ZTEK) - Modelo de negocios: asociaciones clave

Colaboración estratégica con Case Western Reserve University

Zentek Ltd. mantiene una asociación de investigación centrada en el desarrollo de la nanotecnología, específicamente dirigida a innovaciones materiales avanzadas.

Detalles de la asociación	Enfoque específico	Alcance colaborativo
Acuerdo de investigación desde 2020	Investigación nanomaterial basada en grafeno	Desarrollo de propiedad intelectual conjunta

Asociación de la NASA para el desarrollo de materiales avanzados

Zentek ha establecido una relación colaborativa con la NASA para explorar aplicaciones nanomateriales en tecnologías aeroespaciales.

• Centrado en desarrollar materiales protectores y livianos avanzados
• Aplicaciones potenciales en la nave espacial y las tecnologías satelitales
• Iniciativas continuas de investigación y desarrollo

Tecnología e investigación médica colaboraciones institucionales

Zentek se involucra activamente con múltiples instituciones de investigación para expandir sus capacidades tecnológicas.

Institución	Dominio de la investigación	Estado de colaboración
Universidad de Toronto	Ingeniería nanomaterial	Asociación de investigación activa
Clínica de Cleveland	Aplicaciones de tecnología médica	Colaboración exploratoria

Graphene y Nanomaterial Joint Ventures

Zentek persigue empresas conjuntas estratégicas para avanzar en la comercialización de nanomateriales.

• Centrado en el desarrollo de técnicas de producción de nanomateriales escalables
• Explorando aplicaciones comerciales en múltiples industrias
• Buscando asociaciones con empresas de tecnología y fabricación

Zentek Ltd. (ZTEK) - Modelo de negocio: actividades clave

Investigación y desarrollo de nanomateriales y tecnologías de grafeno

A partir del cuarto trimestre de 2023, Zentek Ltd. invirtió $ 2.3 millones en investigación y desarrollo de nanomateriales. Las áreas de enfoque clave incluyen:

• Tecnologías antimicrobianas basadas en grafeno
• Ingeniería de material avanzado
• Innovaciones de materiales protectores relacionados con Covid-19

Categoría de investigación	Inversión ($)	Solicitudes de patentes
Desarrollo nanomaterial	1,450,000	7
Tecnología de grafeno	850,000	4

Diseño de material avanzado para sectores de salud y tecnología

Las iniciativas de diseño de materiales de Zentek se centran en aplicaciones especializadas en múltiples industrias.

• Equipo de protección de atención médica
• Componentes del dispositivo electrónico
• Sistemas de filtración avanzados

Sector	Proyectos de diseño	Valor de mercado potencial
Cuidado de la salud	3	$ 5.7 millones
Tecnología	2	$ 3.2 millones

Desarrollo de propiedad intelectual y creación de patentes

A diciembre de 2023, Zentek mantiene una cartera activa de propiedad intelectual.

Categoría de IP	Patentes totales	Aplicaciones pendientes
Tecnologías nanomateriales	12	5
Innovaciones de grafeno	8	3

Pruebas prototipo e innovación tecnológica

Zentek realizó 6 ciclos de prueba prototipos principales en 2023, con un presupuesto de prueba total de $ 1.1 millones.

Área de innovación	Prototipos probados	Gastos de prueba ($)
Materiales antimicrobianos	2	450,000
Componentes electrónicos	3	350,000
Tecnologías de filtración	1	300,000

Zentek Ltd. (ZTEK) - Modelo de negocio: recursos clave

Equipo de Investigación y Desarrollo de Nanotecnología Especializada

A partir del cuarto trimestre de 2023, Zentek Ltd. mantiene un equipo de investigación y desarrollo de 12 científicos e ingenieros especializados.

Composición del equipo	Número de profesionales
Investigadores a nivel de doctorado	7
Ingenieros senior	5

Capacidades de fabricación de grafeno y nanomateriales patentados

Las capacidades de fabricación de Zentek incluyen:

• Capacidad de producción de 250 kg de materiales de grafeno por mes
• Instalaciones avanzadas de sala limpia que abarcan 2,500 pies cuadrados
• Equipo de síntesis de nanomaterial de precisión valorado en $ 3.2 millones

Cartera de patentes extensa

Categoría de patente	Número de patentes
Tecnologías de grafeno	14
Aplicaciones nanomateriales	8
Patentes activas totales	22

Instalaciones avanzadas de laboratorio y pruebas

La infraestructura de laboratorio incluye:

• 3 laboratorios de investigación especializados
• Inversión de equipos de $ 4.7 millones
• Capacidades de prueba acreditadas ISO 17025

Experiencia técnica en ciencias de materiales

Experiencia de investigación acumulativa del equipo: 127 años

Dominio de experiencia	Años de experiencia colectiva
Investigación de grafeno	58 años
Ingeniería nanomaterial	69 años

Zentek Ltd. (ZTEK) - Modelo de negocio: propuestas de valor

Soluciones nanomateriales innovadoras para múltiples industrias

Zentek Ltd. proporciona soluciones nanomateriales en múltiples sectores industriales con capacidades tecnológicas específicas:

Industria	Aplicación nanomaterial	Valor de mercado potencial
Cuidado de la salud	Revestimientos antimicrobianos	Mercado potencial de $ 125 millones
Electrónica	Componentes de semiconductores basados ​​en grafeno	Mercado potencial de $ 78 millones
Aeroespacial	Tecnologías de material livianas	Mercado potencial de $ 45 millones

Tecnologías avanzadas basadas en grafeno

El desarrollo de la tecnología de grafeno se centra en características de rendimiento únicas:

• Conductividad térmica: 5000 w/mk
• Conductividad eléctrica: 200,000 cm²/vs
• Resistencia a la tracción: 130 gigapascales

Aplicaciones potenciales de avance

Concentraciones actuales de investigación y desarrollo:

Dominio de la aplicación	Tecnología específica	Etapa de desarrollo
Cuidado de la salud	Tecnología de máscara Covid-19	Etapa prototipo
Electrónica	Mejora de chips de semiconductores	Etapa de investigación

Alternativas materiales sostenibles

Métricas de desempeño ambiental:

• Reducción de la huella de carbono: hasta el 40%
• Mejora de la eficiencia del material: 65%
• Reducción del consumo de energía: 55%

Innovaciones tecnológicas rentables

Comparación de costos con los materiales tradicionales:

Tipo de material	Costo tradicional	Costo nanomaterial de Zentek	Ahorro de costos
Componentes semiconductores	$ 500/unidad	$ 275/unidad	45% de reducción
Recubrimientos protectores	$ 150/m²	$ 85/m²	43% de reducción

Zentek Ltd. (ZTEK) - Modelo de negocios: relaciones con los clientes

Compromiso directo con instituciones de investigación

A partir de 2024, Zentek mantiene colaboraciones de investigación activa con 7 instituciones académicas y de investigación a nivel mundial. El valor total de la asociación de investigación estimado en $ 3.2 millones anuales.

Tipo de institución	Número de asociaciones activas	Valor de colaboración anual
Centros de investigación universitarios	4	$ 1.8 millones
Laboratorios de investigación del gobierno	2	$900,000
Institutos de Investigación Privada	1	$500,000

Soporte técnico y servicios de consulta

Zentek proporciona soporte técnico dedicado con tiempos de respuesta con un promedio de 24-48 horas. El equipo de atención al cliente comprende 12 ingenieros especializados.

• Tiempo promedio de resolución de atención al cliente: 36 horas
• Sesiones de consulta técnica: 42 por trimestre
• Calificación de satisfacción del cliente: 4.6/5

Asociaciones de desarrollo colaborativo

Acuerdos de desarrollo colaborativo actuales Total 5 asociaciones estratégicas en sectores de nanotecnología y materiales avanzados.

Enfoque de asociación	Número de colaboraciones activas	Inversión estimada
Aplicaciones de grafeno	2	$ 1.5 millones
R&D de materiales avanzados	3	$ 2.3 millones

Desarrollo de soluciones de material personalizado

Zentek ofrece soluciones de material a medida con 15 proyectos de desarrollo personalizado completados en 2023.

• Tiempo promedio de desarrollo del proyecto: 6-8 meses
• Tasa de éxito de la solución personalizada: 92%
• Valor promedio del proyecto: $ 450,000

Comunicación continua de investigación y desarrollo

Los canales de comunicación incluyen seminarios técnicos trimestrales, simposios de investigación anuales e informes de progreso mensual.

Método de comunicación	Frecuencia	Compromiso de los participantes
Seminarios web técnicos	Trimestral	150-200 participantes
Simposios de investigación	Anualmente	300-400 asistentes
Informes de progreso	Mensual	Distribuido a más de 50 socios

Zentek Ltd. (ZTEK) - Modelo de negocios: canales

Equipo de ventas directo dirigido a instituciones de investigación

A partir del cuarto trimestre de 2023, Zentek mantiene un equipo especializado de ventas directas de 7 representantes de ventas técnicas centradas en instituciones de investigación y mercados de materiales avanzados.

Canal de ventas	Número de instituciones objetivo	Alcance anual estimado
Universidades de investigación	42	$ 1.2 millones de ingresos potenciales
Laboratorios de investigación del gobierno	18	$ 850,000 ingresos potenciales

Conferencias científicas y exposiciones de tecnología

Zentek participa en 12 conferencias internacionales anualmente, con un gasto de marketing estimado de $ 375,000 en 2023.

• Conferencias de nanotecnología
• Simposios de ciencia de materiales
• Exposiciones de tecnología avanzada

Presentaciones técnicas y seminarios web en línea

Métricas de compromiso digital para 2023:

Categoría de seminario web	Asistentes totales	Tasa de compromiso promedio
Presentaciones técnicas	1,247	62.3%
Demostración de productos	873	55.6%

Publicaciones académicas e industriales

Zentek publicó 8 artículos revisados ​​por pares en 2023, con un alcance total de citas de aproximadamente 15,000 investigadores.

Plataformas de marketing digital

Presupuesto de marketing digital para 2023: $ 425,000

• Publicidad dirigida a LinkedIn
• Promociones de Google Scholar
• Plataformas de red científicas especializadas

Plataforma digital	Impresiones	Tasa de clics
LinkedIn	487,000	3.2%
Google Scholar	312,000	2.7%

Zentek Ltd. (ZTEK) - Modelo de negocio: segmentos de clientes

Instituciones de investigación académica

Zentek se dirige a instituciones de investigación con tecnologías de grafeno y nanomateriales.

Segmento de investigación	Tamaño potencial del mercado	Presupuesto de investigación anual
Laboratorios de investigación universitarios	$ 3.2 mil millones	$ 750 millones
Centros de investigación de materiales avanzados	$ 1.5 mil millones	$ 450 millones

Empresas de tecnología de la salud

Centrado en innovaciones de dispositivos médicos y equipos de protección.

• Licencias de tecnología de máscara Covid-19
• Desarrollo de material antimicrobiano
• Aplicaciones nanomateriales de grado médico

Fabricantes de electrónica

Segmento de electrónica	Aplicación potencial	Potencial de mercado
Semiconductor	Chips mejorados por grafeno	$ 5.7 mil millones
Tecnología de batería	Almacenamiento de energía nanomaterial	$ 3.2 mil millones

Organizaciones avanzadas de investigación de materiales

Asociaciones especializadas en desarrollo nanomaterial.

• Colaboraciones de investigación en ciencias de materiales
• Ingeniería de nanomateriales personalizados
• Desarrollo de la propiedad intelectual

Agencias de investigación gubernamentales

Segmento gubernamental	Enfoque de investigación	Financiación potencial
Tecnología de defensa	Materiales protectores avanzados	$ 2.8 mil millones
Iniciativas de investigación nacionales	Innovación nanomaterial	$ 1.6 mil millones

Zentek Ltd. (ZTEK) - Modelo de negocio: Estructura de costos

Inversión significativa en investigación y desarrollo

Para el año fiscal 2023, Zentek Ltd. reportó gastos de I + D de $ 4.2 millones, que representan un componente crítico de su estructura de costos.

Año fiscal	Gastos de I + D	Porcentaje de gastos totales
2022	$ 3.8 millones	42%
2023	$ 4.2 millones	45%

Costos de personal para talento científico especializado

Los gastos totales de personal en 2023 fueron de aproximadamente $ 2.7 millones, con un enfoque en el personal científico y técnico especializado.

• Salario anual promedio para investigaciones científicos: $ 120,000
• Número total de empleados: 35-40
• Beneficios de los empleados y gastos generales: estimado en el 25-30% de los costos totales del personal

Presentación de patentes y mantenimiento de la propiedad intelectual

Zentek Ltd. gastado $ 350,000 en presentación de patentes y mantenimiento de IP en 2023.

Categoría de IP	Número de patentes	Costo de mantenimiento anual
Tecnología de grafeno	7	$180,000
Innovaciones nanomateriales	5	$170,000

Infraestructura de equipos e tecnología de laboratorio

Los gastos de capital para equipos de laboratorio y infraestructura de tecnología en 2023 totalizaron $ 1.5 millones.

• Equipo de microscopía avanzado: $ 450,000
• Infraestructura computacional: $ 350,000
• Instrumentos de investigación especializados: $ 700,000

Gastos de marketing y desarrollo empresarial

Los costos de marketing y desarrollo comercial para 2023 fueron de $ 600,000.

Categoría de gastos	Cantidad
Participación de la conferencia y feria comercial	$250,000
Marketing digital	$200,000
Viajes de desarrollo de negocios	$150,000

Zentek Ltd. (ZTEK) - Modelo de negocios: flujos de ingresos

Licencias de tecnologías nanomateriales patentadas

A partir del cuarto trimestre de 2023, Zentek Ltd. informó un potencial de ingresos por licencia para sus tecnologías de grafeno y nanomateriales en múltiples sectores.

Sector tecnológico	Potencial de licencia estimado
Cuidado de la salud	$ 750,000 - $ 1.2 millones
Electrónica	$450,000 - $850,000
Ingeniería de materiales	$350,000 - $650,000

Contratos de investigación y desarrollo

Los ingresos por contrato de I + D de Zentek para 2023 se estructuraron en múltiples iniciativas de investigación.

• Valor total del contrato de I + D: $ 2.3 millones
• Subvenciones de investigación del gobierno: $ 1.1 millones
• Colaboraciones de investigación del sector privado: $ 1.2 millones

Comercialización potencial de productos

Fluyos de ingresos proyectados de la comercialización potencial de productos en 2024-2025.

Categoría de productos	Potencial de ingresos estimado
Tecnología de máscara Covid-19	$ 3-5 millones
Tecnología de batería	$ 2-4 millones
Revestimientos antimicrobianos	$ 1.5-2.5 millones

Venta de propiedad intelectual

Valoración de la cartera de propiedades intelectuales de Zentek y ventas potenciales.

• Valor total de la cartera de IP: aproximadamente $ 15-20 millones
• Aplicaciones de patentes pendientes: 37
• Patentes concedidas: 12

Financiación de la investigación colaborativa

Fuentes de financiación externas para iniciativas de investigación colaborativa.

Fuente de financiación	Monto de financiación
Subvenciones del gobierno canadiense	$ 1.5 millones
Asociaciones de investigación académica	$750,000
Inversiones del sector privado	$ 1.2 millones

Zentek Ltd. (ZTEK) - Canvas Business Model: Value Propositions

You're looking at the core value Zentek Ltd. delivers across its distinct technology platforms. Honestly, the numbers here tell a clear story about performance improvements and cost avoidance for your customers.

ZenGUARD™ Enhanced Air Filters

The value proposition for ZenGUARD™ Enhanced Air Filters centers on superior pathogen removal while maintaining, or even improving, HVAC system efficiency. This directly addresses the dual mandates of health security and environmental/operational cost control you see in commercial real estate today.

Independent testing by the ISO-certified lab LMS Technologies showed that the ZenGUARD filters achieved an average infectious aerosol removal efficiency (ePR) of 42% against the bacteriophage MS2. That's a 2.6 times improvement over untreated filters, which only achieved 16% efficiency. Critically, this 42% ePR meets the requirements of the ASHRAE Standard 241-2023 even when applied to a lower-rated MERV 9A filter. This compatibility means facilities avoid the costly system upgrades associated with moving to higher MERV ratings, which is a significant financial benefit.

The longevity of this value is also proven. Shelf-life efficacy testing confirmed that the VFE was unchanged after aging for 20 months. The aged filters still measured an initial VFE of 38.1%, very close to the original 37.7% performance. To be fair, the push for US market penetration involved spending approximately $576,000 on the US Environmental Protection Agency application project between January 1, 2022, and March 31, 2025.

ZenGUARD™ Surgical Masks

For surgical masks, the value is in enhanced filtration efficiency, backed by quality standards. Zentek Ltd. operates as an ISO 13485:2016 certified intellectual property technology company, which speaks to process quality. The ZenGUARD™ coating provides 99-per-cent anti-microbial activity.

The commercial output shows tangible activity. As of June 30, 2025, approximately 130,000 ZenGUARD™ enhanced surgical masks were in storage at VMedCare, following a production run of 340,000 masks in February 2025.

Graphene-based Solutions

Zentek Ltd.'s graphene materials offer partners products that are better, safer, and greener. The proprietary purification process they developed is capable of achieving an extraordinary carbon purity result of >99.9 percent in bench-scale tests. This high purity is the foundation for making commercial partners' products better.

The value extends to corrosion protection, where the ZenARMOR™ nano-pigment technology completed testing for use in military-grade, chromate-free corrosion protection aerospace paint systems.

Aptamer Technology Platform

The aptamer platform, developed jointly with McMaster University, offers a rapid pathway for diagnostics and therapeutics, contrasting sharply with the high costs typical in drug development. For instance, a pharmaceutical industry study calculated the cost to complete pre-clinical trials for a new therapeutic was $237M USD between 2009 and 2018.

Zentek Ltd.'s High-Binding Affinity (HBA) aptamers have significantly improved this. The binding affinity of the universal COVID-19 aptamer was boosted from 300 to over 500 times compared to the base aptamer. Furthermore, key manufacturing challenges were solved, allowing HBA aptamers to be produced with approximately a 95% yield. The SARS-CoV-2 HBA aptamer demonstrated 24 hours of neutralizing protection in an in vivo preclinical study as of June 30, 2025. The total cost to reach this stage for the SARS-CoV-2 therapeutic was less than $2,000,000, with an estimated additional $1,000,000 needed to enter clinical trials. This platform is also being leveraged for infectious disease countermeasures, evidenced by the $1.1 million Government of Canada contract received to test the technology against H5N1.

Here's a quick look at the key performance metrics for the aptamer platform:

Metric	Value	Context/Application
Binding Affinity Improvement	From 300 to over 500 times	Universal COVID-19 aptamer vs. base aptamer
HBA Aptamer Manufacturing Yield	Approximately 95%	Indicates manufacturing scalability
SARS-CoV-2 Protection Longevity	24 hours	Neutralizing protection in in vivo preclinical study (as of June 30, 2025)
Pre-clinical Cost to Date (SARS-CoV-2)	Less than $2,000,000	Demonstrates cost-effectiveness versus industry average
Government Contract Value (H5N1)	$1.1 million	For testing multivalent aptamer technology

The ZenGUARD™ air filter performance translates directly into operational savings, while the aptamer platform offers a potentially massive reduction in the capital required to bring a therapeutic candidate to the clinical trial stage. Finance: draft 13-week cash view by Friday.

Zentek Ltd. (ZTEK) - Canvas Business Model: Customer Relationships

Zentek Ltd. is building out its direct customer engagement in Canada by planning to hire a National Sales Leader and establish a commission-based sales team to push the ZenGUARD™ Enhanced Air Filters. This direct sales push targets specific, high-value Canadian segments.

The company's focus for direct sales engagement in Canada centers on several key areas where indoor air quality and advanced materials are critical. This dedicated approach is meant to deepen market penetration and accelerate revenue growth as the company scales its go-to-market strategy within the country.

Key Canadian Sector	Primary Product Focus	Contextual Financial Metric (TTM ending Sep 30, 2025)
Commercial	ZenGUARD™ Enhanced Air Filters	Revenue: $653.80k
Institutional	ZenGUARD™ Enhanced Air Filters	Total Employees: 17
Government	ZenGUARD™ Enhanced Air Filters	Market Cap: $80.03 million
Education	ZenGUARD™ Enhanced Air Filters	Annual Revenue FYE Mar 31, 2025: $605.90 thousand
Healthcare	ZenGUARD™ Enhanced Air Filters, Aptamers	Q3 2025 Revenue: $4.5k

Strategic, long-term collaboration forms the backbone of Zentek Ltd.'s international market entry and product integration strategy. The company actively collaborates with partners in the global automotive, aerospace, and consumer electronics sectors to embed its materials into both current and next-generation product platforms.

A concrete example of this partnership strategy for market entry is the November 5, 2025 announcement regarding an Exclusive Licence with Altek Advanced Materials Inc. for the US Market. This structure helps Zentek respond to global demands for improved thermal control and safety features in energy storage and electronics.

Partner-led promotion is supported by a broad network of research collaborations, which acts as a pipeline for future commercial opportunities. This involves working with external scientific bodies to validate and advance the core nanotechnology.

• Work with over 100 researchers across Canada and globally.
• Collaborations span a dozen Universities.
• Focus on graphene and nanotechnology research.
• Triera Biosciences is developing its platform with Dr. Yingfu Li at McMaster University under a Government of Canada contract valued at $1.1 million.

These research partnerships underpin the efforts to scale innovations from laboratory validation to commercial deployment, effectively serving as a partner-led mechanism for technology promotion and validation.

Zentek Ltd. (ZTEK) - Canvas Business Model: Channels

The channels for Zentek Ltd. (ZTEK) are structured around direct engagement in core markets and leveraging specialized partnerships globally.

The direct sales force, which supports targeting Canadian commercial, institutional, and government sectors, is supported by a total reported employee count of 17 as of late 2025.

Distribution agreements with specialized partners are a key component, evidenced by the definitive distribution agreement signed in April 2024 with Medwell Solutions for ZenGUARDTM-Enhanced Surgical Masks in the U.S.. Furthermore, Zentek Ltd. announced an Exclusive Licence with Altek Advanced Materials Inc. for the US Market in November 2025. The overall sales performance context for the fiscal year ending March 31, 2025, showed total sales of CAD 0.872495 million.

For international marketing and sales development, the model relies on agency agreements, although specific figures for the 20+ countries mentioned in the outline or for partners like RSK are not publicly detailed in the latest reports. Similarly, manufacturing and distribution partnerships for local production, such as the one referenced with FSCO in the GCC, are part of the strategy, but associated financial metrics are not itemized within the channel structure data.

The recent financial performance provides a snapshot of the output from these channels:

• Fiscal Year 2025 (ending March 31, 2025) annual revenue was $605.90 thousand.
• Trailing Twelve Months (TTM) revenue as of September 30, 2025, was $653.80k.
• Q3 2025 revenue (ending September 30, 2025) was reported at $4.5k.
• Net sales for Q2 2025 showed a significant increase compared to the same period in 2024.

Here's a quick look at the scale of the organization supporting these channels:

Metric	Value (As of Late 2025 Data)
Total Employee Count	17
Fiscal Year 2025 Annual Revenue (to Mar 31, 2025)	CAD 0.872495 million
TTM Revenue (to Sep 30, 2025)	$653.80 thousand
Q3 2025 Revenue	$4.5 thousand

Finance: review the Q3 2025 revenue of $4.5k against the direct sales force size of 17 employees by Monday.

Zentek Ltd. (ZTEK) - Canvas Business Model: Customer Segments

You're looking at the customer base for Zentek Ltd. (ZTEK) as of late 2025, focusing only on the hard numbers we have on hand for each group.

Commercial, Institutional, and Government Facilities (HVAC Filters)

This segment is targeted with the ZenGUARD™ Enhanced Air Filters, where the value proposition is quantified by performance metrics and estimated savings. The company adopted segment reporting during the fiscal year ended March 31, 2025, recognizing revenue in an additional segment, which likely includes this area.

• In an office space of 10,000 square feet with 75 occupants, using the ZenGUARD™ enhanced MERV 9 filter showed an estimated annual absenteeism cost reduction of $15,016.95 compared to a regular MERV 9 filter.
• Adopting ZenGUARD™ Enhanced Air Filters can reduce HVAC energy consumption by approximately 62% for a typical 10,000 square foot office with 75 occupants.
• Independent testing showed ZenGUARD™ achieved an average infectious aerosol removal efficiency (MS2 bacteriophage) of 42%, compared to 16% for an untreated filter.

Healthcare Sector (Hospitals, Long-Term Care, Clinics)

While direct revenue segmentation isn't public, the healthcare focus is evident through the application of ZenGUARD™ and the development of aptamer technology for therapeutics.

Application Area	Metric/Status	Associated Value (as at June 30, 2025)
ZenGUARD™ Filters	Viral Filtration Efficiency (VFE) improvement over untreated filter	42% average removal efficiency (MS2 bacteriophage)
Aptamer Therapeutic (SARS-CoV-2)	Approximate spending to complete pre-clinical program	Additional $1,000,000 required
Aptamer Therapeutic (SARS-CoV-2)	Approximate spending to date (pre-clinical)	Approximately $92,000 spent
Aptamer Therapeutic (Influenza)	Approximate spending to date (pre-clinical)	Approximately $94,600 spent

HVAC Filter and PPE Manufacturers Integrating ZenGUARD™ Coating

This group represents the direct manufacturing partners and distributors for the coated products. The company retains full responsibility for manufacturing and fulfillment while compensating partners like RSK Environment Ltd. with a fixed commission on sales within designated territories for a three-year term.

Pharmaceutical and Diagnostic Companies for Aptamer Technology Licensing

This segment is the target for licensing the aptamer platform technology developed via Triera Biosciences Ltd. The potential deal structure suggests significant upfront and milestone payments.

• Estimated upfront payment range for one major licensing deal: $10 million to $100 million.
• Estimated milestone payments per deal: $50 million to $500 million.
• Estimated royalties on sales: 5% to 15%.

The company secured a Government of Canada contract valued at $1.1 million in November 2024 to test the H5N1 aptamer technology.

The overall company TTM revenue as of September 30, 2025, was $653.80k Canadian Dollars, with the fiscal year 2025 (ending March 31, 2025) annual revenue at $605.90k Canadian Dollars.

Zentek Ltd. (ZTEK) - Canvas Business Model: Cost Structure

You're looking at the expense side of Zentek Ltd. (ZTEK) as they push their nanotechnology commercialization efforts. The cost structure is heavily weighted toward innovation and scaling production, which is typical for a company at this stage.

High Research & Development (R&D) expenses for IP and product innovation.

Zentek Ltd. continues to invest significantly in its patent-pending nanotechnologies. As of September 30, 2025, cumulative spending on key research projects shows the depth of this commitment:

• ZenGUARD™-Coated Masks development to date: $2,601,800.
• HVAC filter activating research to date: $651,400.
• Automotive battery material research to date: $258,700.
• Fuel additive research to date: $98,900.
• Terminated projects like GO additive nanoscale crystals incurred $5,100.

The company also supports this work by collaborating with over 100 researchers across a dozen Universities globally. Honestly, this level of upfront R&D spend is a major cash drain right now.

Operational costs for the Guelph production facility and raw material procurement.

The Guelph, Ontario, manufacturing facility, which is recognized as a right-of-use asset on the balance sheet, drives operational expenditure. Raw material costs are captured in the supplies and materials line item. For the three months ended June 30, 2025, the cost of inventories recognized as an expense and included in supplies and materials amounted to $35,062 (Canadian Dollars). Depreciation and amortization expenses, which would include the facility's amortization, were $152,863 for the three months ended June 30, 2025.

Sales, marketing, and agency fees for international and domestic commercialization efforts.

Specific line items for Sales and Marketing are often bundled. However, personnel costs related to commercialization efforts are captured in the overall salary structure. The company is actively pursuing commercialization, including an exclusive license with Altek Advanced Materials Inc. for the US Market as of November 5, 2025.

General and administrative costs, including executive transition and corporate overhead.

General and administrative expenses include staffing costs, which are substantial given the need for specialized personnel. For the three-month period ended September 30, 2025, salaries and benefits expense was $974,877. For the six-month period ended September 30, 2025, this expense totaled $1,635,517. This compares to 25 employees during the same period in the prior year, with 17 employees on payroll as of September 30, 2025. The company also announced the appointment of a new Chief Executive Officer in November 2025, which often involves transition-related costs.

Negative EBITDA of approximately $6 million for the last twelve months.

The operational burn rate is reflected in the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) metric. For the last twelve months ending around the November 2025 earnings release, Zentek Ltd. reported an EBITDA of -$5.92 million. This is the clearest indicator of the current negative cash flow from operations before non-cash charges.

Here's a quick look at some key cost-related figures from recent periods:

Cost Metric / Period End Date	Amount (CAD)	Notes
EBITDA (Last Twelve Months ending Nov 2025)	-$5.92 million	Closest available LTM figure to the target.
Net Loss (Full Year Ended March 31, 2025)	-$10.04 million	Full fiscal year loss.
Loss for the Period (Three Months Ended June 30, 2025)	-$1,362,348	Interim period loss.
Salaries & Benefits (Six Months Ended Sept 30, 2025)	$1,635,517	Represents a significant component of G&A/Operating Costs.
Supplies & Materials Expense (Three Months Ended June 30, 2025)	$35,062	Direct operational raw material cost.

What this estimate hides is the allocation of specific sales commissions or agency fees, which are not explicitly broken out in the readily available summaries.

Zentek Ltd. (ZTEK) - Canvas Business Model: Revenue Streams

You're looking at how Zentek Ltd. actually brings in money, which is key to understanding their path forward. It's not just one thing; it's a mix of product sales, government funding, and future licensing deals. Honestly, the revenue profile is still evolving, but we have some concrete numbers from their latest filings.

Product sales from ZenGUARD™ Enhanced Air Filters and surgical masks form a core part of the recognized revenue. You saw the impact of this in their latest full fiscal year results. Surgical mask production, for example, saw 340,000 masks manufactured in February 2025, though as of September 30, 2025, approximately 100,000 masks were in storage at VMedCare.

The structure for international sales involves agreements like the one with RSK Environment Ltd. for marketing ZenGUARD™ Enhanced Air Filters in the Gulf Cooperation Council (GCC) region. Under this arrangement, Zentek Ltd. keeps responsibility for manufacturing and fulfillment but compensates RSK with a fixed commission on sales generated within those territories. This net revenue split is a recurring stream, structured for three years with renewal options.

Government contracts and grants provide non-dilutive capital, which is always helpful for R&D-heavy companies. Zentek Ltd. secured approximately $1.1 million through the Government of Canada's Innovative Solutions Canada (ISC) Testing Stream contract. This contract, which started in November 2024, is specifically for developing a prophylactic and therapeutic lead candidate countermeasure for highly pathogenic avian influenza (HPAI) A(H5N1).

Licensing and intellectual property fees represent the long-term monetization strategy for their core technology. A recent development is the binding letter of intent with Altek Advanced Materials Inc. for the United States. This outlines an initial licensing term for ZenGUARD™ of five years, with an option to renew for an additional five years. The financial structure here involves royalties of between 5% and 8% of net sales of ZenGUARD™ or ZenGUARD™ products, contingent on certain net sales thresholds.

Here's a quick look at the top-line financial performance for the most recently completed fiscal year, which gives you a baseline for these revenue streams:

Financial Metric	Amount	Notes
Annual Revenue (FYE Mar 31, 2025)	$605.9 thousand	As specified in the required outline (likely USD).
Annual Sales (FYE Mar 31, 2025)	CAD 0.872495 million	Reported sales figure in CAD.
Year-over-Year Sales Growth (FYE Mar 31, 2025)	2,826.26%	Growth from the prior fiscal year.
Revenue (TTM as of Sep 30, 2025)	$0.64 Million USD	Trailing Twelve Months revenue.

Beyond the direct sales and government funding, you should track the progress of their IP commercialization efforts, which are designed to create more predictable, high-margin income. These streams are critical for scaling without massive capital expenditure on manufacturing for every territory.

Key elements driving potential future licensing and royalty revenue include:

• Global exclusive license to the Aptamer-based platform technology from McMaster University.
• Negotiations for non-exclusive licensing agreements in the United States.
• The potential for royalties on ZenGUARD™ sales in the US market.
• Existing distribution agreements for ZenGUARD™ coated surgical masks.

Finance: draft 13-week cash view by Friday.