The MADMAT design, which was originally created for military use to help with fuel fires on aircraft carriers, is laid under areas where fuel can get spilled.
It helps suffocate flames, reduce temperature and minimise smoke in the event of a spillage getting ignited.
The idea of bringing MADMAT to F1 was first suggested to the FIA after several Williams mechanics were injured in a fire inside the team's garage after the 2012 Spanish Grand Prix.
The system has had to be adapted for petrol use, but following a successful demonstration in front of teams and F1 race director Charlie Whiting at this year's Spanish Grand Prix, a final version is close to being given the green light to go into production.
Whiting told AUTOSPORT: "If you had it within the garage areas of teams where they store their fuel, like Williams had [in 2012], it simply would not have burned like that.
"The teams are all quite keen on this, extremely keen on it, and the possibilities are quite endless because it is good not only for F1
"We could make it mandatory, although we are not sure if we will yet or not, but I think the teams are keen enough to do it anyway."
Whiting suggests that MADMAT could transform garage safety at all levels of motor racing - and there would be no reason why circuits could not incorporate it themselves.
"It has massive possibilities for motor racing," he said. "If F1 adopts it, then I think it is a very good sign - as there is no reason why it could not filter down."