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. develops and manufactures basalt fiber composite products for the construction industry through its wholly owned subsidiary, Basanite Industries, LLC. Recurring company updates center on BasaFlex™ basalt fiber reinforced polymer rebar, BasaLinks™ prefabricated reinforcement components, and BasaMix™ chopped basalt fibers for concrete reinforcement and related construction uses.
News about BASA also covers product approvals and certifications, including Florida Department of Transportation approval, ICC-ES evaluation for BasaFlex, and a U.S. patent covering BasaFlex and its manufacturing method. Corporate updates include distributor relationships, manufacturing and office relocation activity, and board or executive changes.
Basanite, Inc. (OTCQB:BASA) announced the appointment of Sergio S. Salani to its Board of Directors on August 16, 2022. Salani, a seasoned entrepreneur with over 30 years of experience in finance and technology, expressed excitement about joining the company, which produces environmentally friendly composite products for the construction industry. Chairman Michael V. Barbera believes Salani's expertise will significantly contribute to the company's goals. Basanite focuses on innovative, sustainable materials that outperform traditional construction products.
Basanite Inc. (OTCQB:BASA) will host a technical symposium on June 28, 2022, in Palm City, Florida, focusing on the benefits of basalt fiber-reinforced polymer (BFRP) in construction. The event features key experts, including keynote speaker Dr. Brahim Benmokrane, highlighting BFRP as a sustainable alternative to steel. The symposium aims to promote environmentally friendly construction materials amidst changing market dynamics. Attendees include industry professionals from government agencies and construction companies. The event will be streamed live and available for replay on Basanite's website.
Basanite Inc. (OTCQB:BASA) has appointed Fred Tingberg Jr. as Chief Technology Officer, leveraging his 25 years of construction industry experience. Tingberg will enhance product development, sales, and compliance with building codes. His previous efforts helped secure Bahamian government approval and local infrastructure project endorsements. Basanite manufactures eco-friendly basalt fiber composite products, noted for being non-corrosive and stronger than traditional steel. Further details regarding Tingberg's role will be disclosed in a forthcoming Form 8-K filing.
Basanite, Inc. (OTCQB:BASA) has been selected to supply its BasaFlexTM and BasaMeshTM products for concrete reinforcement in the Indian Creek Village of Miami-Dade County. This marks the third municipal approval for Basanite's products in Florida in 2022, driven by a demand for environmentally friendly alternatives to steel reinforcements. The basalt fiber reinforced products are key to fortifying infrastructure amidst challenges posed by saltwater erosion.
Basanite Inc. (OTCQB:BASA) has appointed Simon Kay as its Chief Executive Officer, confirming his role since March 2020 as Acting Interim CEO. With 35 years of experience in business management and composite manufacturing, especially in aviation, Kay has a proven track record of enhancing operational performance and revenue growth. He has held senior positions in startup companies and Fortune 500 divisions. Basanite focuses on producing eco-friendly composite materials for the construction industry, aimed at offering sustainable alternatives to traditional steel reinforcement.
Basanite Inc. (OTCQB:BASA) announced that its products, BasaFlex™ and BasaMesh™, have been approved for use in Broward County infrastructure projects, marking a significant milestone for the company.
This approval allows these environmentally friendly composite materials to replace traditional steel reinforcement in concrete structures. The first project using these products is the UAZ 123 community development in Oakland Park, Florida. The company emphasizes the potential for growth amid supply chain challenges and infrastructure needs.
Basanite Inc. (OTCQB:BASA) announced that its proprietary products, BasaFlex™ and BasaMesh™, have been approved by the City of Pompano Beach, Florida, for subterranean stormwater and wastewater projects. This approval is part of the Lyons Park Stormwater and Wastewater Improvements Project, with an anticipated revenue of over $250,000. The approval follows rigorous technical evaluations, confirming the products' resistance to corrosive environments found in sewer systems. This marks a significant milestone for Basanite, potentially opening doors for future projects in the region.
Basanite Inc. (OTCQB:BASA) announced the appointment of two construction industry veterans, Manuel A. Rodriguez and Frederick H. Tingberg, Jr., to its Board of Directors, enhancing its leadership team. Rodriguez has extensive experience in concrete product manufacturing and environmental engineering, while Tingberg brings a strong background in infrastructure construction project management. This move follows recent agreements with Concrete Products of the Palm Beaches and U.S. Supplies, aimed at bolstering Basanite’s market position in composite construction materials.
Basanite Inc. (OTCQB:BASA) announced strategic partnerships with Concrete Products of the Palm Beaches (CPPB) and U.S. Supplies (USS) on December 13, 2021. These include a five-year Exclusive Supplier Agreement with CPPB, making Basanite the sole supplier of basalt fiber products for CPPB's concrete offerings, and a Distribution Agreement with USS, extending Basanite's reach in the U.S. and seven Central and South American countries. Additionally, two construction veterans were appointed to Basanite's board, enhancing governance. A warrant for 40 million shares at $0.33 per share was issued to USS, contingent on a $5 million capital investment.
Basanite, Inc. (OTCQB:BASA) announced that CEO Simon Kay will represent the company at the LD Micro Main Event from October 12-14, 2021, in Los Angeles, CA. This influential conference features around 150 small and microcap companies. Kay's presentation is scheduled for October 12th at 12:00 pm EDT, and will be accessible online. Basanite specializes in environmentally friendly composite products made from basalt fiber, which provide advantages over traditional steel reinforcements, including corrosion resistance and reduced weight.