Basanite Industries Announces Approval, and Pre-Production Status

POMPANO BEACH, Fla., Nov. 05, 2019 (GLOBE NEWSWIRE) -- Basanite Industries announces critical approval from the governing agencies in south Florida for manufacturing “next generation”, non-corrosive concrete reinforcement at its new state-of-the-art facility in Pompano Beach, Florida.

Upon the arrival of Basanite’s brand new pultrusion equipment in May of 2019, Basanite began a complete build-out of its Pompano Beach facility.  The permitting process has been the most important aspect in the preparation of the facility, which included working with some of Florida’s finest contractors and engineers to ultimately build a series of Plans that met the stringent requirements of the City and County, as well as Federal codes and guidelines.

Dave Anderson, Chief Operating Officer for Basanite explained, “After several months of extensive research, hard work and team collaboration; including working hand-in-hand with the City of Pompano Beach, we are proud to announce our approval, and readiness to move to the next phase.”

“Some of our initial work has been with precast producers that are actively reverse engineering their own designs to replace black steel and epoxy coated reinforcement with BasaFlex BFRP,” Krolewski said.

The Florida Department of Transportation is now accepting designs that include BFRP, which Krolewski believes will point the way for other departments of transportation and additional specifying entities to accept BFRP reinforcement. “FDOT has been a leader in the area of non-corrosive reinforcement, and Basanite Industries is confident that other DOTs and municipalities will join them in dealing with the problem of failing concrete due to rusting reinforcement,” Krolewski said.

Basanite Industries manufactures BasaFlex™ an enhanced basalt rebar (BFRP), engineered to add intrinsic value in a concrete structure by eliminating corrosion problems often associated with intervening products or elements, or naturally caused by the steel reinforcement itself. Basalt fiber reinforced polymers (BFRP) provides a non-corrosive solution to traditional steel reinforcement in concrete structures. BFRP is 75% lighter than steel, will never corrode and has tensile strength that meets or exceeds steel. Basanite’s mission is to become the manufacturing leader of BFRP to be used in the next generation of infrastructure construction for the concrete industry. 

About the company: Basanite Industries, LLC is a publicly traded company with primary interests in the manufacture of concrete reinforcement products made from basalt fiber reinforced polymers.  

Forward-looking statements: This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of October 31, 2019, 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.

For IR Information:  Richard Krolewski, CEO, (954) 532-4653, ext. 101

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Source: Basanite Inc.