Basanite Industries Introduces BasaMax(TM), its Proprietary Manufacturing System for BasaFlex(TM) Basalt Fiber Rebar
POMPANO BEACH, FL / ACCESSWIRE / June 30, 2021 / Basanite Industries, LLC (OTCQB:BASA) ("Basanite" or the "Company") announced today it has completed qualification of its completely new, proprietary BasaMax™ Pultrusion Manufacturing System. The BasaMax™ system utilizes the same factory floorspace as conventional pultrusion equipment but offers double the manufacturing capacity and operates significantly faster than any available alternative. Further, the equipment is uniquely optimized for manufacturing products using Basalt fiber.
BasaMax™ offers double the manufacturing capacity in the same footprint and operates at significantly faster speeds than any comparable pultrusion equipment
Basanite has successfully completed its initial production trials and product validations on the initial BasaMax™ prototype unit pictured here, and this system is now qualified for production. Basanite's CEO Simon Kay brought to Basanite aerospace composite manufacturing quality control procedures and standards from his experience as CEO of Aerospace Technologies Group, and these have been utilized in Basanite's current production systems and in the design of the BasaMax™ system. BasaMax™ is both modular and scalable, allowing for flexibility in expansion and development of future manufacturing sites. The BasaMax™ system is fully integrated and is operated wirelessly, ensuring that each bar produced carries Basanite's world-class quality and physical properties while eliminating unnecessary waste.
Ability to Deliver Large Scale Orders. Subject to adequate financing, Basanite intends to install 10 BasaMax™ systems into the Pompano Beach facility. This will increase the 2-shift manufacturing capacity of the Pompano Beach facility to over 70 million linear feet per year. Basanite's five legacy pultrusion machines will be subsequently converted into dedicated BasaLinks™ (shapes and bends) manufacturing equipment, allowing the new BasaMax™ systems to be focused solely on BasaFlex™ rebar production. BasaLinks™ represent only about 10% of the linear requirements in a typical construction project, but generally represent 20+% of the project's sales value. This approach optimizes the Company's ability to deliver larger scale orders to the construction industry.
A Corrosion-Proof Green Solution. As the supply chain for traditional construction materials has become increasingly back-logged, Basanite is leading the way forward with innovative, "green" and sustainable solutions that also offer substantially superior benefits. Compared with steel rebar, BasaFlex™ is 2½ times stronger, roughly ¼ the weight, and is completely corrosion-proof. Collectively, these value propositions have created substantial market interest in Basanite.
"America's infrastructure is eroding at an exponential rate; much of it is because of failing concrete structures due to spalling rebar," stated Basanite CEO Simon Kay. "Through our innovation and execution, we seek to provide long-term, sustainable solutions to this critical dilemma."
More information about the Company may be found at www.BasaniteIndustries.com
BasaFlex™ is an enhanced, engineered Basalt fiber reinforced polymer (BFRP) rebar, engineered to add intrinsic value in a concrete structure by eliminating corrosion problems associated with steel reinforcement - saving both time and money over the structure's lifecycle. In addition to being corrosion proof, BasaFlex™ is much stronger in tensile strength, resistant to acids and alkali, non-conductive, and a fraction of the weight of steel for the same strength. It is so light, in fact, a single truck can carry roughly four times the quantity of material compared to steel - significantly reducing transportation cost.
Basanite Industries, LLC (OTCQB BASA), is a leading manufacturer and market developer of environmentally friendly, high-performance composite products used in concrete reinforcement. 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.
Senior Vice President
Forward-looking statements: This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of June 30, 2020, 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," 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 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 may differ materially from current expectations based on a number of factors affecting Basanite's business. 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 Basanite (including the risk of us continuing as a going concern), please see our 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 we filed with the Securities and Exchange Commission on March 31, 2020 and may be viewed at http://www.sec.gov.
SOURCE: Basanite Industries, LLC
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Released June 30, 2021