Basanite, Inc.

Basanite, Inc. manufactures "green," sustainable, non-corrosive, lightweight, composite products for concrete reinforcement in the construction industry through its wholly owned subsidiary, Basanite Industries, LLC. The company's core product is BasaFlex™, a basalt fiber reinforced polymer (BFRP) reinforcing bar, or rebar. Basanite, Inc. offers BasaFlex™ as an alternative to traditional steel, noting it is stronger, lighter, sustainable, non-conductive, and corrosion-proof. Basanite, Inc. also produces BasaMix™, which consists of fine denier basalt fibers available in various chopped sizes, and BasaMesh™, a line of Basalt Geogrid Mesh Rolls designed to replace welded wire mesh made of steel. The company's revenue growth began in 2021 and continued in 2022 and 2023. Basanite, Inc. was formed as a Nevada corporation in 2006 under the name "Nevada Processing Solutions, Inc." and entered its current BFRP business in 2017. BFRP is a UV-stable, chemical, acid, and moisture-resistant material engineered to replace steel, as it does not rust. BasaFlex™ BFRP rebar is corrosion-proof, chemical, acid, and moisture-resistant, and is designed to replace steel in certain structures and applications, addressing issues with reduced structure lifecycles due to corrosion.