Basanite Industries, LLC Announces Receipt of Final Approvals and Fully Operational Status
POMPANO BEACH, Fla., March 20, 2020 (GLOBE NEWSWIRE) -- Basanite Industries, LLC (hereafter referred to as “Basanite”) announces receipt of official approvals to begin manufacturing BasaFlex™, Basanite’s proprietary Basalt Fiber Reinforced Polymer (BFRP) Rebar. After completing updates and modifications to the company’s 36,000 sq. ft. facility, Basanite received both Underwriter’s Laboratory and City of Pompano Beach final approvals, placing Basanite into fully operational status.
This announcement moves Basanite into the spotlight as the only dedicated BFRP manufacturer in North America, with the ability to produce a full range of bar sizes (#2 through #8) and a capacity of up to 60 MM linear feet annually. Additionally, Basanite leads the industry as the only BFRP manufacturer with an advanced, in-house QA/QC Laboratory, outfitted with the latest instrumentation and technology. This laboratory not only allows Basanite to perform full verification of all incoming raw materials, but also enables Basanite to drive unprecedented industry reliability by utilizing this capability to conduct ASTM D-7205 mechanical testing on finished goods prior to shipment. This level of testing and verification supports the requirements for verified, consistent BFRP Rebar mandated by State and Federal Departments of Transport and other customers.
Basanite is taking the lead in the next generation of infrastructure reinforcement with the availability of its highly engineered and proprietary products. The manufacturing method, resin matrix and profile design of the BasaFlex™ Rebar are proprietary and the company is pursuing intellectual property protection. The advantages of BasaFlex™ are clearly understood by the industry: a high-strength, non-corrosive, longer lasting and sustainable solution, saving both time and money over the life-cycle of a concrete structure.
BasaFlex™ is an enhanced basalt rebar, engineered to add intrinsic value in a concrete structure by eliminating corrosion problems associated with intervening products or naturally caused by the steel reinforcement itself. Basanite is working to position itself as the recognized leader in the engineered composite rebar market for the concrete industry.
About the company: Basanite Industries, LLC, a wholly owned subsidiary of Basanite, Inc. (OTCQB: BASA), 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 23, 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: Dave Anderson, EVP/COO, (954) 532-4653, Ext. 102
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f8c280c5-0282-4867-ad2e-7e420a09d95a
Released March 20, 2020