Welcome to our dedicated page for Basanite news (Ticker: BASA), a resource for investors and traders seeking the latest updates and insights on Basanite stock.
Basanite, Inc. (OTCQB: BASA) is a manufacturer and developer of environmentally friendly, high‑performance basalt fiber composite products for the construction industry, with a focus on concrete reinforcement. Through its subsidiary Basanite Industries, LLC, the company highlights product families such as BasaFlex™ basalt fiber composite rebar, BasaMesh™ basalt geogrid mesh, and BasaMix™ chopped basalt fibers, which it presents as non‑corrosive, lightweight alternatives to traditional steel reinforcement.
The BASA news feed features company announcements about product certifications, regulatory approvals, operational changes, and corporate developments. Examples include the ICC‑ES Evaluation Report for BasaFlex™ confirming compliance with International Building Code and International Residential Code requirements, Florida Department of Transportation approval for a range of BasaFlex™ products, and Government of the Bahamas approval for BFRP rebar, including BasaFlex™, to replace steel in concrete reinforcement.
Investors and industry participants can also follow updates on Basanite’s distribution relationships, such as agreements with regional stocking distributors in the Midwest and the Bahamas, as well as news on planned production and distribution facilities and relocations of offices and equipment. Corporate updates cover changes in executive leadership, board composition, and SEC reporting matters, including notifications of late filings when the company cites limited accounting and finance resources.
This BASA news page aggregates these disclosures in one place, allowing readers to review Basanite’s product‑related milestones, geographic expansion efforts through distributors, and ongoing corporate and regulatory developments as reported in press releases and SEC filings.
Basanite Industries (OTCQB: BASA) announced significant management changes and operational updates. The company experienced multiple board resignations, including directors Andrew Acquarulo Jr., Paul Sallarulo, Sergio Salani, and Fred Tingberg. Additionally, the CFO and CTO have stepped down, with Ronald LoRicco now serving as interim CEO and CFO.
The company has relocated from Pompano Beach to Branford, Connecticut and is currently involved in litigation against Upstate Custom Products regarding custom pultrusion machines. Basanite is exploring new opportunities in Basalt Fiber Reinforced Polymer industries and considering investments in energy, mining, cryptocurrency, and healthcare sectors, though success is not guaranteed.
Basanite Industries (OTCQB: BASA) has appointed Michael D. Nelson as its new Chief Executive Officer. Nelson, a retired Lt. Colonel in the US Army and 11-time combat-deployed Green Beret veteran, brings significant leadership experience from his roles as Chief Operating Officer at the Global Energy Security Institute and Director of Operations at the Institute for the Study of War.
Nelson holds a Bachelor's degree in History from Virginia Military Institute, a Master's in Defense Analysis from Naval Postgraduate School, and an MBA from the University of Virginia's Darden School of Business. The company, through its subsidiary Basanite Industries, , manufactures environmentally friendly basalt fiber composite products for the construction industry, offering non-corrosive, lighter, and stronger alternatives to traditional steel elements.
Basanite Inc. (OCTQB: BASA) has announced plans to relocate its operations from Pompano Beach, Florida, to a new production and distribution facility in Northeast Ohio. The company cites several strategic advantages for this move, including improved access to labor, more favorable real estate costs, and promising regional demand indicators.
Acting Interim CEO Ali Manav expects to secure a facility and establish operations within the next 45 days. The relocation plan involves transferring all manufacturing equipment, inventory, and raw materials to the new Midwest location. Basanite specializes in manufacturing environmentally friendly, high-performance basalt fiber composite products for the construction industry.
Basanite Industries, , a subsidiary of Basanite Inc. (OCTQB: BASA), has been granted U.S. Patent No. 12,024,885 B2 for its BasaFlex™ basalt fiber composite rebar and manufacturing method. This follows the product's successful testing at the Universite de Sherbrooke in 2021, which demonstrated BasaFlex™'s superior strength compared to steel and top performance in the BFRP rebar field.
The patent application was filed on September 13, 2021, and granted on July 2, 2024, with an anticipated expiration date of September 13, 2041. Basanite Industries specializes in manufacturing environmentally friendly, high-performance basalt fiber composite products for the construction industry, offering non-corrosive, lighter, stronger, and longer-lasting alternatives to traditional steel elements.
Basanite Inc. (OCTQB: BASA) has appointed Ali Manav as Interim Chief Executive Officer. Mr. Manav brings over 30 years of business experience across various industries, including building materials, banking, IT, healthcare, and manufacturing. He specializes in lean manufacturing and has a track record of guiding companies from start-up to commercialization.
Mr. Manav expressed gratitude for the opportunity and commitment to leveraging his network and experience to lead Basanite. He holds an MBA in Management and Entrepreneurialism from Case Western Reserve University and a bachelor's in business administration from Cleveland State University.
Basanite, through its subsidiary Basanite Industries, , manufactures and develops environmentally friendly, high-performance basalt fiber composite products for the construction industry. These products are promoted as non-corrosive, lighter, stronger, and longer-lasting compared to traditional steel elements.
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Basanite Industries has announced the certification of its BasaFlex™ basalt fiber reinforced polymer (BFRP) rebar by the International Code Council Evaluation Service (ICC-ES). This certification confirms compliance with the 2018 and 2021 International Building Codes, enabling use in states like New York. Additionally, ASTM has published a new international standard, D8448-22, for basalt fiber composites, marking a significant milestone for Basanite in gaining global acceptance. The management highlights the strategic importance of this certification for future market penetration and product validation.
Basanite, Inc. (OCTQB:BASA) has signed a Distributor Agreement with Basalt Fiber Products, LLC to distribute its basalt fiber composite products in the Midwest. BFP ordered over 100,000 feet of BasaFlex™ rebar, one ton of BasaMix™ fibers, and other components, indicating strong demand for Basanite's corrosion-proof products. The collaboration targets regions prone to steel corrosion, positioning Basanite's sustainable solutions effectively. BFP, based in Michigan, anticipates expanding customer reach and application opportunities for Basanite's products.
Basanite Industries (OTCQB:BASA) has received approval from the Government of the Bahamas for its basalt fiber reinforced polymer (BFRP) rebar, allowing it to replace conventional steel rebar in concrete structures. This approval coincides with a distributor agreement with ART Heavy Equipment & Development, which will stock Basanite products in the Bahamas. ART's initial order includes over 100,000 feet of BasaFlex rebar and other composite materials, targeting the region's demand and green initiatives.
Basanite Inc. (OTCQB:BASA) announced the appointment of Lisa H. Gainsborg as Chief Financial Officer, Treasurer, and Secretary, effective August 17, 2022. Ms. Gainsborg, a seasoned financial executive, brings extensive experience in accounting and compliance from both public and private sectors. Her role will be crucial in guiding Basanite's growth in the construction industry and ensuring adherence to SEC reporting standards. Basanite specializes in environmentally friendly composite materials, aimed at enhancing construction sustainability.