A fabricated concrete foundation wall is provided with a plurality of insulation panels and reinforcing ribs to improve strength and reduce the density of the wall panel. The foundation wall panels are easily placed and interconnected together to quickly provide a foundation adapted to support the main walls of a home, for example. The foundation panels in one embodiment generally include a facewall that may have at least one carbon fiber band positioned horizontally therethrough to provide additional stiffness.

 
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