Basanite Orders New Production Equipment to Meet Market Demand
POMPANO BEACH, FL / ACCESSWIRE / September 9, 2021 / Basanite Industries, LLC ("Basanite" or the "Company") (OCTQB:BASA) announced it has ordered five of its new, proprietary, custom built BasaMax™ pultrusion machines in order to meet the rapidly growing demand for its products. Following the successful testing and integration of the prototype BasaMax™ system delivered in April, the Company utilized proceeds of its recent private placement to order these advanced systems. The new BasaMax™ composite manufacturing equipment is domestically built, using Basanite's own design and technology, and is fully automated, extremely durable, and designed for high reliability.
Basanite's order consists of three BasaMax™ Tetrad machines, which are the world's only dedicated quad-cavity, basalt fiber pultrusion systems; and two BasaMax™ Dyad machines, which are dual cavity systems focused on larger size rebar production. Collectively, this equipment will provide Basanite with a total of 16 new BasaFlexTM manufacturing lines, increasing Basanite's plant capacity by more than 400%, and making Basanite capable of producing over 70 million linear feet of BasaFlexTM per year.
"This is a major step towards establishing sustainable commercialized operations and to making Basanite a substantial player in the concrete reinforcement market," stated Basanite's CEO Simon Kay. "We have already begun successfully turning our sales efforts and pilot programs into orders, and we are now focusing on being ready to meet the burgeoning demand we are experiencing."
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
SOURCE: Basanite Industries, LLC
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Released September 9, 2021