Paymeon announces the intention to acquire Rockstar Acquisitions, the manufacturer of basalt fiber reinforced polymer products able to replace steel products and materials.
Among the well-known Rockstar’s technology solutions, there is the Innovation Bridge on the University of Miami’s campus made exclusively out of fiber reinforced polymers and without any steel at all.
The company leverages their technology to produce basalt fiber reinforced polymer products that replace steel rebar and mesh in the reinforced concrete structures.
Rockstar’s products, which include RockRebar™, RockStirrups™, RockStaples™ and RockMesh™ are three times stronger and 80% lighter than steel. In addition, they never rust, create virtually no carbon footprint and have lifespans of more than a century.
Paymeon explains their intention to enter composite materials market by the substantial growth in infrastructure spending coming in the United States, as well as around the world.
According to Vincent L. Celentano, member of Paymeon’s Board of Directors and the company’s largest shareholder:
Rockstar’s products are disruptors of today’s modern steel industry, their characteristics will create a paradigm shift in construction that will lead to the next industrial revolution.
He emphasizes that Rockstar is well positioned to participate in what is expected to be a high-growth industry by offering its green technology solutions, which compare favorably with steel in many aspects.
The research of Global Market Insights also confirms that fiber reinforced polymer rebars market exceeded USD 45 million in 2015, and is forecasted to surpass USD 90 million by 2024.
The main application fields of fiber reinforced polymer rebars, including those based on basalt fiber are the construction of highways, bridges, and buildings.