The annual market for concrete reinforcement in the United States is estimated to be about $9.4 billion, according to the consultancy Grandview Research.
This market is well established and resistant to change.
Concrete is a material that results from mixing water, sand, gravel and cement or lime, and as it sets, it becomes stronger.
However, Basanite notes that reinforcing concrete with traditional steel products and methods has proven to be problematic.
Nearly all of the world’s concrete buildings and foundations were originally constructed with steel reinforcement.
Basanite’s business focuses on the construction industry, more specifically on the introduction of composite products for concrete reinforcement and, secondarily, for asphalt.
To note: steel has long been a proven product for these applications, but it has an inherent problem: it corrodes (rusts) and degrades when exposed to air and water.
All steel reinforcing bars (or rebar) that have been used suffer some form of degradation due to corrosion.
This corrosion causes the concrete to pull away from the reinforcement, crack and ultimately fail: the process is called spalling.
This corrosion problem has been recognized by the governing bodies to the extent that they have written into the code a definition of the «acceptable» amount of corrosion in steel reinforcing bars prior to use.
In any case, the bar continues to rust and ultimately this leads to costly maintenance, initially with repairs and eventually replacements over the life of the structure.
Concrete reinforcement
Addressing this problem is Basanite’s main objective and value proposition: all of its products are basically corrosion-proof.
In addition, the company believes that its disruptive alternative to steel reinforcement also offers greater strength, giving the end user alternatives for concrete reinforcement elements that will never require maintenance or replacement for 100 years or more.
Through its wholly owned subsidiary, Basanite Industries, LLC, Basanite manufactures «green» (environmentally friendly), sustainable, non-corrosive and lightweight composite products used in concrete reinforcement by the construction industry.
Its main product is BasaFlex, a basalt fiber reinforced polymer (BFRP) reinforcing bar (known as «rebar») that it considers a stronger, lighter, sustainable, non-conductive and anti-corrosive alternative to traditional steel.
