Basanite Industries, Inc. Appoints Michael D. Nelson as Chief Executive Officer

Rhea-AI Summary

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.

Positive

• Appointment of experienced military and organizational leader as CEO
• Strong educational background with MBA from prestigious institution
• Company offers innovative, environmentally friendly construction products

Negative

• Company's 10-K filing indicates going concern risks
• Significant uncertainties and risks mentioned in forward-looking statements

POMPANO BEACH, Fla., March 21, 2025 /PRNewswire/ -- Basanite Industries, Inc. (OCTQB: BASA) today announced it appointed Michael D. Nelson as the Company's Chief Executive Officer.

Mr. Nelson is a retired Lt. Colonel in the US Army and a 11-time combat-deployed Green Beret veteran of the Iraq and Afghanistan theaters. Mr. Nelson has recently served as the Chief Operating Officer for the Global Energy Security Institute as well as a member of the counter-terrorism project for the Atlantic Council. Prior to that, Mr. Nelson was the Director of Operations for the Institute for the Study of War.

"I am thrilled to join Basanite, inc. This is a great opportunity with a truly revolutionary set of products which I believe will transform construction and concrete reinforcement," stated Michael D. Nelson. "This is an exciting time, and we are ready to seize the opportunities ahead."

Mr. Nelson holds a Bachelor of Arts degree in History from Virginia Military Institute, a Master's degree in Defense Analysis from the Naval Postgraduate School, and a Master's in Business Administration from the Darden School of Business at the University of Virginia.

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 www.BasaniteIndustries.com.

Cautionary Note Regarding Forward-Looking Statements
This release, the symposium referred to herein, and statements by the Company's management in connection therewith contains or may contain "forward-looking statements," which are based on Company management's current expectations and assumptions as of the date of this press release.  Such statements include those regarding the Company's business and performance, its prospects, its products and the market for such products, 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 actual 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 and made in connection with the symposium referred to herein 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, 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 April 15, 2022, 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.

Contact Details: 954-532-4653, info@basaniteindustries.com 

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SOURCE Basanite Industries, Inc.

FAQ

What is Michael D. Nelson's background before joining Basanite (BASA) as CEO?

Nelson is a retired US Army Lt. Colonel, 11-time combat-deployed Green Beret veteran, former COO of Global Energy Security Institute, and former Director of Operations at the Institute for the Study of War.

What educational qualifications does BASA's new CEO Michael Nelson hold?

He holds a BA in History from Virginia Military Institute, Master's in Defense Analysis from Naval Postgraduate School, and MBA from University of Virginia's Darden School.

What products does Basanite Industries (BASA) manufacture?

BASA manufactures environmentally friendly basalt fiber composite products for construction, offering non-corrosive, lighter, and stronger alternatives to traditional steel elements.

When was Michael D. Nelson appointed as CEO of Basanite (BASA)?

Michael D. Nelson was appointed as CEO of Basanite Industries on March 21, 2025.