Basanite’s BasaFlexTM and BasaMeshTM reinforcement products approved to replace steel In underground concrete structures for Broward County : City of Oakland Park To Mark First Installation in a Broward County Infrastructure Project
POMPANO, FL / Basanite Inc. (OTCQB: BASA) (“Basanite” or the “Company”), a manufacturer of environmentally friendly, high-performance composite construction materials made from basalt fiber and basalt fiber reinforced polymer (“BFRP”), today announced that the Company’s proprietary BasaFlex™ and BasaMesh™ reinforcement products have been approved to replace steel reinforcement in existing Broward County infrastructure projects. The first Broward County project to utilize BasaFlex™ and BasaMeshTM is a community development called “UAZ 123,” located in the city of Oakland Park, Florida.
“Obtaining this approval is a significant milestone for our company,” stated Basanite’s Acting Interim CEO, Simon Kay. “Until recently, steel was the only reinforcement product approved for use in these types of structures. We are now demonstrating that Basanite’s advanced basalt fiber composite products are being accepted into standard industry specifications in both private and public venues. Furthermore, the combination of the current supply chain crisis and the need to address the nation’s eroding infrastructure are providing our company with significant opportunities to showcase our Made-in-America suite of technologically advanced, long-lasting, environmentally friendly, premium quality reinforcement products.”
About BasaFlexTM
BasaFlexTM, a composite reinforcement bar or “rebar,” is a state-of-the-art, sustainable alternative to steel in concrete reinforcement. BasaFlexTM is engineered to add intrinsic value in a concrete structure by eliminating corrosion problems associated with typical steel reinforcement, saving both time and money over the lifecycle of a concrete structure. BasaFlexTM has a 100-year design life, is non-corrosive, weighs just 25 percent of steel, but has a 2.5 times greater tensile strength. It is also transparent to magnetic fields, radar frequencies and other electro-magnetic radiated energy and both electrically and thermally non-conductive. It is easy to use and much safer to handle on the job site. Because of its core advantages and competitive price point, Basanite Inc. is confident BasaFlexTM will become the construction industry’s number one choice for concrete reinforcement.
About BasaMeshTM
BasaMeshTM, a line of composite geogrid mesh products made from Basalt fiber, is intended to replace Welded Wire Mesh (Steel) and other FRP grids and/or geo-grid mesh products. BasaMeshTM is supplied in rolls, and can easily be cut to size on site. It is designed and engineered specifically for secondary and temperature shrinkage reinforcement. BasaMesh™ is an excellent choice to work in conjunction with BasaFlex™ rebar and other Basanite products for a total reinforcement program.
About Basanite
Basanite, Inc. (OTCQB: BASA), through its wholly owned subsidiary Basanite Industries, LLC, is a manufacturer and developer of a range of environmentally friendly, high-performance basalt fiber composite products used by the construction industry. Superior to traditional steel elements, Basanite’s sustainable products are non-corrosive, lighter, stronger and longer lasting. For more information, please visit www.BasaniteIndustries.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains “forward-looking statements,” which are based on Company management’s current expectations and assumptions as of the date of this press release regarding the Company’s business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “goal,” “feel,” “may,” “plan,” “will,” “expect,” “anticipate,” “estimate,” “intend,” “potential” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements in this press release involve substantial risks and uncertainties that could cause future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. All forward-looking statements in this press release reflect Basanite’s current analysis of existing trends and information and represent Basanite’s judgment only as of the date of this press release. Actual results (including, without limitation, the anticipated benefits of (i) the Company’s products and (ii) the contract with Broward County and the potential revenue to be generated by such contract, each as described herein) may differ materially from current expectations based on a number of factors, many of which are beyond the Company’s control. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company (including the risk of the Company continuing as a going concern), please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, including but not limited to the discussion under “Risk Factors” therein, which was filed with the U.S. Securities and Exchange Commission on March 31, 2021, as well as the Company’s other filings with the Securities and Exchange Commission, all of which may be viewed at http://www.sec.gov.
Public Relations Contact
Diana Hanford,Vice President
Pierson Grant Public Relations
Phone: +1 (954) 776-1999 x230
Cell: +1 (561) 309-4136
Email: dhanford@PiersonGrant.com
Investor Contact
Mark Komonoski
Integrous Communications
Phone: +1 (877) 255-8483
Email: mkomonoski@integcom.us
Basanite’s BasaFlexTM and BasaMeshTM reinforcement products approved to replace steel In underground concrete structures for Broward County : City of Oakland Park To Mark First Installation in a Broward County Infrastructure Project
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