Basanite Industries, LLC Announces Performance Testing of BasaFlex™ at the University of Miami

POMPANO BEACH, Fla., April 20, 2020 (GLOBE NEWSWIRE) — Basanite Industries, LLC (hereafter referred to as “Basanite”) announces independent performance testing in progress at the University of Miami.  
Basanite is collaborating with the University to develop a scope of test data for its BasaFlex™ BFRP composite rebar to be used by specifying agencies and engineers as a sustainable solution to solve the high costs and problems associated with corrosion from traditional steel reinforcement.   The testing itself covers an extensive range of mechanical procedures designed by ASTM, to identify a product’s performance attributes.  In the accompanying photo, BasaFlex™ (#5 sized bar) is being set up for Tensile Testing according to ASTM D7205.  This is a critical performance characteristic in that concrete is good under compressive loads, but not under tension.  With the specific tensile strength of BasaFlex™ being stronger than steel, the concrete and the BFRP reinforcement actually work in concert to create a better concrete matrix than with traditional steel or wire reinforcement methods. BasaFlex™ is an enhanced basalt rebar, engineered to add intrinsic value in a concrete structure by eliminating corrosion problems associated with typical steel reinforcement – thus saving both time and money over the life-cycle of a concrete structure.  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 April 6, 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.For more information:  Dave Anderson, EVP/COO
(954) 532-4653 Ext. 102A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/529c1122-f16f-4a58-8ca8-fde07ccb2a6b