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), a pioneer in environmentally friendly composite products made from Basalt fiber, announced that CEO Simon Kay will present at the Fall Harvest - Best Ideas from the Buy-Side conference, held virtually from October 5-8, 2021. His presentation is scheduled for October 5 at 2:00 pm EDT and will be webcast live. One-on-one meetings with management are also available during the conference. For more information or to register, visit the provided links.
Basanite Industries (OTCQB:BASA) has been awarded a contract to supply reinforcement products for the restoration of the seawall at Venetian Isle residences in Miami. The order includes BasaFlex™, a Basalt fiber reinforced polymer rebar, and BasaLinks™, proprietary shapes made from BasaFlex™, aimed at enhancing construction efficiency. CEO Simon Kay noted the products' unique strength and non-corrosive properties make them ideal for seawall applications, offering a competitive price point. This project underscores Basanite's commitment to providing sustainable, high-performance composite solutions.
Basanite Industries (OTCQB:BASA) has successfully completed testing of its BasaFlex™ basalt fiber reinforced polymer rebar, which will replace traditional steel in Schema Precast Systems' patented retaining wall panels. This collaboration aims to enhance the durability and performance of construction projects globally. The BasaFlex™ product is corrosion-resistant, lightweight, and offers greater tensile strength. This milestone signifies a potential market advantage for Basanite in the concrete reinforcement sector.
Basanite Industries (OCTQB:BASA) has announced a significant expansion of its production capabilities. On September 9, 2021, the company ordered five new BasaMax pultrusion machines to address rising product demand. This investment, funded by a recent private placement, follows the successful testing of a prototype delivered earlier this year. With this order, Basanite is set to increase its manufacturing capacity by over 400%, enabling production of more than 70 million linear feet of its BasaFlex products annually, positioning itself as a leader in the concrete reinforcement market.
Basanite, Inc. (OTCQB:BASA) announced a successful $5.33 million private placement of units, facilitated by Aegis Capital Corp. The funds raised are intended to bolster Basanite's operations as a leader in manufacturing eco-friendly composite products for concrete reinforcement. The company emphasizes the superior performance of its products, which are lighter, stronger, and non-corrosive compared to traditional steel reinforcements. For further details, visit BasaniteIndustries.com.
Basanite (OTCQB:BASA) has successfully closed a private placement offering, raising approximately $5.33 million from institutional and accredited investors. This offering comprised 19,398,144 units priced at $0.275 per unit, with each unit including one common share and two warrants, potentially leading to the issuance of an additional 38,796,288 shares. The warrants have an exercise price of $0.33 and a five-year term. Aegis Capital Corp. served as the exclusive placement agent for this offering.
Basanite Industries (OTCQB:BASA) announces its participation in the Access to Giving Virtual Investor Conference, scheduled from July 13-15, 2021. CEO Simon Kay will present on July 14 at 2:00 PM EDT. The conference focuses on investor education and features 50+ companies. Basanite, known for its environmentally friendly composite products, aims to communicate its ESG value proposition and corporate developments. The presentation will also be available for live streaming. Interested parties can contact for one-on-one meetings.
Basanite Industries (OTCQB:BASA) has successfully qualified its new BasaMax™ Pultrusion Manufacturing System, which doubles production capacity while operating more efficiently than existing alternatives. The new system enables Basanite to increase its manufacturing output to over 70 million linear feet annually, particularly for BasaFlex™ rebar, which is touted as stronger, lighter, and corrosion-proof compared to traditional steel rebar. This innovation is positioned to meet rising demand in the construction industry amidst supply chain challenges.
Basanite Industries (OTCQB:BASA), an innovator in eco-friendly composite products, will present at the Florida Structural Engineers Association (FSEA) event on June 8, 2021. The company aims to showcase its Basalt Fiber Reinforced Polymer (BFRP) products, highlighting their advantages over traditional construction materials. Key products include BasaFlex™, a steel alternative; BasaMesh™, an option for welded wire mesh, and BasaMix™, designed for crack reduction. The presentation emphasizes the lifecycle benefits of using Basanite's sustainable solutions in construction.
Basanite Industries (OTCQB:BASA) will present at the LD Micro Invitational XI on June 10 at 6:30 pm EDT. CEO Simon Kay is expected to discuss the company's innovative, environmentally friendly composite products.
The LD Micro Invitational runs from June 8-10, 2021, featuring around 180 companies. Basanite aims to highlight its strong ESG value and growth potential to investors.