Basanite's BasaFlexTM BFRP Rebar Achieves International Code Council Evaluation Service Certification (ICC-ES)

Basanite's BasaFlexTM BFRP Rebar Achieves International Code Council Evaluation Service Certification (ICC-ES)

ASTM Issues An International Standard for Basalt Fiber

POMPANO BEACH, FL -- October 24, 2022 -- InvestorsHub NewsWire -- Basanite Industries LLC, a wholly owned subsidiary of Basanite, Inc. (OCTQB: BASA) ("Basanite" or the "Company") announces that it has received Certification from the International Code Council Evaluation Service (ICC-ES) for its BasaFlex™ basalt fiber reinforced polymer (BFRP) rebar product line, for use in concrete reinforcement. The ICC-ES Evaluation Report ESR-5092 confirms BasaFlex™ is in compliance with 2021 and 2018 International Building Code (IBC) and 2021 and 2018 International Residential Code (IRC) requirements, when used in concrete reinforcement. The ICC-ES report is published and may be found on their website at: https://icc-es.org/report-listing/esr-5092/.

"This approval comes after years of research and development, followed by nine months of rigorous testing by the University of Miami, using the ICC-ES protocols" stated Simon Kay, President and CEO of Basanite. "I am proud of our engineering and production teams for obtaining this certification, especially as Basanite becomes the first full range basalt fiber rebar manufacturer in the United States to obtain this approval."

Fred Tingberg, Chief Technology Officer of Basanite, stated, "obtaining this approval is very important to Basanite, as it is a prerequisite for the use of BasaFlex™ in many states, such as New York, as well as internationally. This certification validates our contention that Basanite's basalt fiber products are the future of concrete reinforcement in construction."

Earlier this month, ASTM published D8448-22, a new international standard specification which covers the requirements for Basalt fiber used in manufacturing BFRP composite products. Basanite's engineering and certification team members were instrumental in the successful publication of this new standard. "This is a major milestone which marks significant progress by Basanite towards achieving worldwide acceptance of its products" remarked Mr. Tingberg. ASTM D8448-22 is published on the ASTM website at: https://www.astm.org/d8448_d8448m-22.html.

About ICC-ES: With over 90 years of experience and thousands of reports, ICC Evaluation Service (ICC-ES) is the industry leader in performing technical evaluations of building products, materials and systems for code compliance. Due to its diligence and unparalleled engineering experience, ICC-ES is the most widely accepted evaluation agency in the nation.

Agencies use evaluation reports to help determine code compliance and enforce building regulations; manufacturers use reports as evidence that their products (and this is especially important if the products are new and innovative) meet code requirements and warrant regulatory approval.

ICC-ES evaluation reports are public documents, available free of charge online, not only to building regulators and manufacturers, but also to contractors, specifiers, architects, engineers, and anyone else with an interest in the building industry.

ICC-ES also has growing programs for evaluation of plumbing, mechanical, and fuel gas products, and of green building products. ICC-ES is a nonprofit, limited liability company.

About ASTM International: ASTM International is a globally recognized leader in the development and delivery of voluntary consensus standards. Today, over 12,000 ASTM standards are used around the world to improve product quality, enhance health and safety, strengthen market access and trade, and build consumer confidence.

ASTM International standards are the tools of customer satisfaction and competitiveness for companies across a wide range of markets. Through more than 140 technical standards-writing committees,

About BasaFlex™: BasaFlex™, a composite reinforcement bar or "rebar," is a state-of-the-art, green, 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 25 percent of steel, but is 2.5 times stronger. 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 believes BasaFlex™ will become the construction industry's preferred choice for concrete reinforcement.

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 (including, without limitation, the anticipated benefits of the new distributor agreement 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 risks associated with the Company's manufacturing capability and 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.