BASANITE INDUSTRIES, LLC RECEIVES U.S. PATENT FOR ITS BASAFLEX™ BASALT FIBER COMPOSITE REBAR AND METHOD OF MANUFACTURING

Rhea-AI Summary

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.

Positive

• Granted U.S. Patent No. 12,024,885 B2 for BasaFlex™ and its manufacturing method
• BasaFlex™ demonstrated superior strength compared to steel in independent testing
• Patent protection extends until September 13, 2041

Negative

• None.

POMPANO BEACH, Fla., Oct. 9, 2024 /PRNewswire/ -- Basanite Industries, LLC, (hereafter referred to as "Basanite"), a wholly owned subsidiary of Basanite Inc. (OCTQB: BASA) today announced the successful granting of U.S. Patent No. 12,024,885 B2 by the United States Patent and Trademark Office (USPTO). The patent was issued providing protection for Basanite's innovative and breakthrough basalt fiber composite rebar BasaFlex™ and its proprietary method of manufacturing. 

In May 2021, Basanite announced that the Universite de Sherbrooke in Quebec, Canada displayed through extensive testing, "Best in Class Performance Results," for BasaFlex™ in accordance with CSA S807, FDOT 932-3 and ASTM D7957. The tests were performed at the materials and structures laboratories at the Department of Civil Engineering, under the supervision of Dr. Brahim Benmokrane, NSERC Research Chair Professor in Innovative FRP Reinforcement for Concrete Infrastructure. Ultimately, the test results not only demonstrated that the specific tensile strength of BasaFlex™ is significantly stronger than steel; but also, the overall mechanical and performance attributes of BasaFlex™ place it at the top of the BFRP rebar field. The performance data from the laboratory tests can be found on Basanite's website at: www.basaniteindustries.com in the products section, under BasaFlex™ BFRP Rebar Performance Data.

Because of the successful testing results, on September 13, 2021, Basanite filed an application with the USPTO to establish and protect the intellectual property associated with the Company's product and manufacturing process. The patent was granted to the Company and published on July 2, 2024. The patent is anticipated to expire on September 13, 2041. 

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: 954-532-4653 info@basaniteindustries.com

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SOURCE Basanite Industries, LLC

FAQ

What is the new patent granted to Basanite Industries for BASA stock?

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 its proprietary manufacturing method.

When does Basanite's (BASA) new patent for BasaFlex™ expire?

The patent granted to Basanite Industries for BasaFlex™ is anticipated to expire on September 13, 2041.

How does BasaFlex™ compare to steel according to the testing results for BASA stock?

According to testing conducted at the Universite de Sherbrooke in 2021, BasaFlex™ demonstrated significantly higher specific tensile strength compared to steel and top performance in the BFRP rebar field.

What are the main advantages of Basanite's (BASA) products over traditional construction materials?

Basanite's products, including BasaFlex™, are described as non-corrosive, lighter, stronger, and longer-lasting compared to traditional steel elements, offering environmentally friendly alternatives for the construction industry.