City of Oakland Park To Mark First Installation in a Broward County Infrastructure Project
POMPANO, FL / ACCESSWIRE / March 22, 2022 /Basanite Inc.(OTCQB:BASA) ("Basanite" or the "Company"), a manufacturer of environmentally friendly, high-performance composite construction materials made from basalt fiber and basalt fiber reinforced polymer ("BFRP"), today announced that the Company's proprietary BasaFlex™ and BasaMesh™ reinforcement products have been approved to replace steel reinforcement in existing Broward County infrastructure projects. The first Broward County project to utilize BasaFlex™ and BasaMesh™ is a community development called "UAZ 123," located in the city of Oakland Park, Florida.
"Obtaining this approval is a significant milestone for our company," stated Basanite's Acting Interim CEO, Simon Kay. "Until recently, steel was the only reinforcement product approved for use in these types of structures. We are now demonstrating that Basanite's advanced basalt fiber composite products are being accepted into standard industry specifications in both private and public venues. Furthermore, the combination of the current supply chain crisis and the need to address the nation's eroding infrastructure are providing our company with significant opportunities to showcase our Made-in-America suite of technologically advanced, long-lasting, environmentally friendly, premium quality reinforcement products."
BasaFlex™, a composite reinforcement bar or "rebar," is a state-of-the-art, sustainable alternative to steel in concrete reinforcement. BasaFlex™ 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™ 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 Inc. is confident BasaFlex™ will become the construction industry's number one choice for concrete reinforcement.
BasaMesh™, a line of composite geogrid mesh products made from Basalt fiber, is intended to replace Welded Wire Mesh (Steel) and other FRP grids and/or geo-grid mesh products. BasaMesh™ 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 an excellent choice to work in conjunction with BasaFlex™ rebar and other Basanite products for a total reinforcement program.
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 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 contract with Broward County and the potential revenue to be generated by such contract, 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, 2020, 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 Email: dhanford@PiersonGrant.com
View source version on accesswire.com: https://www.accesswire.com/694093/Basanites-BasaFlexTM-and-BasaMeshTM-Reinforcement-Products-Approved-to-Replace-Steel-in-Underground-Concrete-Structures-for-Broward-County
Nio (NYSE: NIO) reported increasing losses in its second-quarter earnings report this week, but investors are shrugging that off, sending shares soaring Friday morning. Although its profit margins have been on a downward trend, new models being launched could turn that around in the coming years. Consumer prices in China increased at a slower pace than many expected in August, and producer inflation sank to the lowest level since February 2021, reports Reuters.
As we close in on the final quarter of 2022, investors are looking for an answer to one question: was June’s low the bottom for stocks, or do they have more room to fall? It’s a serious question, and there may be no easy answer. Markets are facing a series of headwinds, from the high inflation and rising interest rates that we’ve grown familiar with to an increasingly strong dollar that will put pressure on the upcoming Q3 earnings. Weighing in on current conditions from Charles Schwab, the $8 t
Berkshire Hathaway is on pace to collect $6.07 billion in dividend income over the next 12 months. Just five holdings will account for 71% of total payouts.
Peloton Interactive (NASDAQ: PTON) shares beat the market on Friday as the stock gained 11% by 1 p.m. ET compared to a 1.2% increase in the S&P 500. Shares have been reeling in recent months as Peloton struggled to boost sales of its exercise platforms or membership subscriptions to its services.
Advanced Micro Devices, Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $AMD performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
The Facebook and Instagram owner's share price zoomed more than 4% higher on Friday, as investors bid the company up on news that it had disbanded one of its teams. Thursday afternoon, The Wall Street Journal reported that Meta had dissolved the Responsible Innovation (RI) unit at the company. This was the team that kept an eye on the ethics of its products and services, which also include messaging app WhatsApp in addition to Facebook and Instagram.
Nursing homes and debt collectors are billing and suing long-term-care residents’ family members and friends, demanding payments for debts these individuals don’t legally owe, consumer attorneys and federal regulators are claiming. Under federal law, nursing homes participating in Medicare and Medicaid can’t make such provisions a condition of admission or continued stay in the facility.
The S&P 500 is on again, off again all year. But investors clearly have a "buy list" of stocks they want to own when the rally looks real.
Investors are seeing higher growth potential for QuantumScape's battery cell technology after an interesting EV industry development.
Shares of AMC Entertainment (NYSE: AMC) are rising 8.7% higher at 10:13 a.m. ET on Friday following CEO Adam Aron thanking the movie theater operator's shareholders for their support as rival Cineworld (OTC: CNNW.F) filed for bankruptcy on Wednesday. It's been expected for some time that the Regal theater owner would eventually file, as the industry is still racked by low attendance, but Aron assured investors AMC is in a "very, very different situation." Although both theater operators have over $5 billion in debt, Aron maintains it was because of investors who rallied behind the stock over the past year that AMC doesn't find itself in a similar position.
The Dow Jones jumped as the rally gained strength. Tesla stock surged as Elon Musk eyed a new move. A Warren Buffett stock impressed.
A strong bearish trend defined the markets in the first half of the year; since then, the key point has been volatility. Stocks hit a bottom back in June, when the S&P 500 dropped into the 3,600s. That has proven to be a support level in the last two months, and at least one strategist believes that the market won’t be testing those lows again this year. JPMorgan's Jason Hunter believes that inflation may have peaked, and that the upcoming CPI report will provide additional evidence of that. “We
In this article, we will look at 10 stocks that Jim Cramer is talking about in September. If you want to explore more stocks that journalist investor, Jim Cramer, is talking about in September, you can also take a look at Jim Cramer is Talking About These 5 Stocks in September. Jim Cramer has acquired […]
In an effort to streamline the regulation that governs how retirement accounts can be used, the IRS has proposed a change for 403(b) plans - a type of workplace retirement plan use mostly by public and non-profit employees. Employer-sponsored plans … Continue reading → The post The IRS Is Changing How Your Beneficiaries Receive Your Retirement Funds appeared first on SmartAsset Blog.
Get a fresh take on your retirement planning. Avoid these three mistakes.
In this article, we discuss 10 dividend stocks with over 8% yield to buy in September. You can skip our detailed analysis of top high dividend stocks, and go directly to read 5 Best Dividend Stocks with Over 8% Yield You Can Buy in September. In the current market situation, investors are looking for different […]
Gary Gensler had strong words for the crypto industry in a Thursday speech, telling an audience of lawyers that the "vast majority" of the nearly 10,000 existing crypto tokens are securities.
FuelCell Energy (FCEL) posts wider-than-expected fiscal Q3 loss. FCEL's backlog remains strong and the company continues to deliver modules and meet customer needs through clean energy generation.
Deciding when to time your retirement plan withdrawals matters for determining how long your money will last and what you'll pay in taxes for those distributions. If you have a 401(k) at work, you might follow the Rule of 55 … Continue reading → The post Rule of 55 vs. 72(t): Retirement Plan Withdrawals appeared first on SmartAsset Blog.
It’s time to consider this contrarian play.