Third announced specification for Basanite, Inc.'s products in 2022 as municipalities seek alternatives to steel reinforcement products

POMPANO BEACH, FL / ACCESSWIRE / April 20, 2022 / Basanite, Inc. (OCTQB:BASA), a manufacturer of environmentally friendly, high-performance composite construction materials made from basalt fiber and basalt fiber reinforced polymer, announced that it has been selected to manufacture and supply multiple concrete reinforcement products (notably its BasaFlex^TM and BasaMesh^TM products) for use in fortifying sea walls, concrete catch basins and stormwater structures for the 300-acre island municipality of Indian Creek Village.

The selection by Indian Creek Village is the third announced municipal approval in Florida for Basanite's products this year, as municipalities search for stronger and more environmentally friendly alternatives to steel reinforcement products.

The underground infrastructre application for which Basanite's products have been approved is an integral component of the island enclave's multi-phase Roadway Redevelopment Project.

"Indian Creek is surrounded by the saltwater of Biscayne Bay in Miami-Dade County, making it imperative for Village building officials to select the toughest, most resilient, reinforced concrete available on the market today," Basanite Director Fred Tingberg explained. "The basalt fiber reinforced polymer we manufacture to fortify concrete is not only the green choice, but it also significantly strengthens and extends the life of concrete structures."

Basanite engineered, developed and manufactures sustainable, non-corrosive, lightweight, composite concrete reinforcing products such as BasaFlex^TM and BasaMesh^TM using basalt fiber as an alternative to conventional steel reinforcement.

Indian Creek Village is directly latitudinal to the Town of Surfside in Miami-Dade, site of the oceanfront Champlain Towers collapse in June 2021 where rising groundwater, king tides and deteriorating concrete from the ensuing saltwater erosion were considered as potential factors of the disaster.

"We believe that concrete reinforced with BasaFlex^TM and BasaMesh^TM will be a key element in helping the iconic and historic community of Indian Creek maintain its security and structural integrity for decades to come," Tingberg added.

About BasaFlex^TM

BasaFlex^TM, a composite reinforcement bar or "rebar," is a state-of-the-art, sustainable alternative to steel in concrete reinforcement. BasaFlex^TM is engineered to add intrinsic value in a concrete structure by eliminating corrosion problems associated with typical steel reinforcement, saving both time and money over the lifecycle of a concrete structure. BasaFlex^TM has a 100-year design life, is non-corrosive, weighs just 25 percent of steel, but has a 2.5 times greater tensile strength. It is also transparent to magnetic fields, radar frequencies and other electro-magnetic radiated energy and both electrically and thermally non-conductive. It is easy to use and much safer to handle on the job site. Because of its core advantages and competitive price point, Basanite believes BasaFlex^TM can become the construction industry's preferred choice for concrete reinforcement.

About BasaMesh^TM

BasaMesh^TM, a line of composite geogrid mesh products made from basalt fiber, is intended to replace Welded Wire Mesh (steel) and other fiber reinforced polymer grids and/or geo-grid mesh products. BasaMesh^TM is supplied in rolls and can easily be cut to size on site. It is designed and engineered specifically for secondary and temperature shrinkage reinforcement. BasaMesh™ is designed to work in conjunction with BasaFlex™ rebar and other Basanite products for a total reinforcement program.

About Basanite

Basanite, Inc. (OTCQB:BASA), through its wholly owned subsidiary Basanite Industries, LLC, is a manufacturer and developer of a range of environmentally friendly, high-performance basalt fiber composite products used by the construction industry. Superior to traditional steel elements, Basanite's sustainable products are non-corrosive, lighter, stronger and longer lasting. For more information, please visit BasaniteIndustries.com.

Cautionary Note Regarding Forward-Looking Statements

This release contains "forward-looking statements," which are based on Company management's current expectations and assumptions as of the date of this press release 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," "potential" 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 press 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 (including, without limitation, the anticipated benefits of (i) the Company's products and (ii) the approval by Indian Creek Villiage and the potential revenue to be generated by such approval, each as described herein) may differ materially from current expectations based on a number of factors, many of which are beyond the Company's control. 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 the Company (including the risk of the Company continuing as a going concern), please see the Company's Annual Report on Form 10-K for the year ended December 31, 2021, including but not limited to the discussion under "Risk Factors" therein, which was filed with the U.S. Securities and Exchange Commission on March 31, 2021, as well as the Company's other filings with the Securities and Exchange Commission, all of which may be viewed at http://www.sec.gov.

Investor Contact
Mark Komonoski
Integrous Communications
Phone: +1 (877) 255-8483
Email: mkomonoski@integcom.us

Public Relations Contact
Diana Hanford,Vice President
Pierson Grant Public Relations
Phone: +1 (954) 776-1999 x230
Cell: +1 (561) 309-4136
Email: dhanford@piersongrant.com

SOURCE: Basanite Industries