Basanite Industries Receives Permit for Production
POMPANO BEACH, Fla., Dec. 05, 2019 (GLOBE NEWSWIRE) -- Basanite Industries LLC (OTC: BASA) (hereinafter “Basanite”) has received its permit to power up and begin all phases of calibration, material verification and testing to produce BasaFlexTM, its enhanced basalt fiber reinforced polymer (BFRP) designed to replace steel reinforcement in concrete structures.
BasaFlexTM addresses a significant problem in the replacement of failing infrastructure – concrete corrosion caused by steel reinforcement. As a non-corrosive reinforcement that is one-quarter the weight of steel and has high tensile strength, BasaFlexTM is designed to meet specifiers’ demands for longer-lasting concrete components when they are rebuilding or replacing infrastructure, according to Richard Krolewski, Basanite CEO.
“State departments of transportation and local municipalities know that they can’t afford to keep replacing corroding concrete that fails prematurely,” Krolewski said. “They’re looking for longer-lasting solutions. Our non-corrosive BFRP is the answer. This is really the next generation of concrete reinforcement.”
Krolewski said the Basanite team has been working for nine months to get the Pompano Beach manufacturing plant ready for production. With permitting approved, the pultrusion machines that produce BasaFlexTM will now be calibrated, followed by testing and quality control operations in the pre-production process.
As production begins to ramp up, Krolewski is meeting with engineers at the City of Pompano Beach and Broward County to describe the benefits of non-corrosive reinforcement and its contribution to sustainable construction. Broward County Commissioner Lamar Fisher recently visited the Basanite Industries facility for a plant tour.
During the tour, Krolewski explained the lifecycle cost advantages of incorporating non-corrosive reinforcement into structures, especially in coastal areas where saltwater heightens corrosion.
“We want to be good partners with the city and county as we’re working to make our community more resilient through our products, and also working with the precast concrete and cast-in-place industries to manufacture products with longer lifecycles that cannot be affected by corrosive elements,” Krolewski said.
“As we start manufacturing BasaFlexTM, we are grateful for the support of the city through our development process, and we’re looking forward to serving the city and the precast concrete industry for a long time to come.”
Basanite Industries LLC manufactures BasaFlex™ an enhanced basalt rebar, 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. The company is working to position itself as the recognized leader in the engineered composite rebar market for the concrete industry.
About the company: Basanite Inc. is a publicly traded company that wholly owns Basanite Industries LLC, 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 December 4, 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 More Information: Richard Krolewski, CEO, (954) 532-4653, ext. 101
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f3f1d39d-3868-4d2e-a07b-e39cbb23991b
Released December 5, 2019