ANN ARBOR, Mich.
Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announced today that its operations team at its Vietnamese subsidiary, Prodigy Textiles, has completed rearing the Company’s first batch of production silkworms. The Company’s specialized spider silk silkworms were hatched over a 7 day period starting on October 8th, while Jon Rice, the Company’s COO, was in Vietnam. The silkworms began spinning cocoons on October 27th and finished on November 2nd.
The Company is already in the process of removing the finished cocoons from the mounting frames, which will be complete by November 6th. Upon completion, the cocoons will be prepared for the silk moths to emerge. As reported, late last month, the entire population of emerging silk moths will be dedicated to breeding stock, in order to rapidly expand the Company silk production capacity at Prodigy Textiles.
The second round of production is slated to begin later this month and the resulting silk cocoons will be reeled and spun into finished silk thread. This thread will be the first recombinant spider silk thread available from Prodigy Textiles and is scheduled to be delivered to a collaborative partner the Company has been working with to develop new materials and applications.
With operations now fully underway, the Company expects to maintain a continuous production output at Prodigy Textiles and will plan to bring additional materials to market to address the backlog of inquiries in the coming months.
“The Prodigy Textiles production ramp up continues to demonstrate the efficacy of our manufacturing strategy. The success of this first wave of operations will serve as the blueprint for the successive expansion. Our direct, drop-in strategy is already proving its effectiveness to scale Dragonsilk 2.0. We believe this demonstration of rapid expansion will clear the path to fast-track our operations growth and quickly reach our targeted capacity,” Rice said.
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of genetically engineered spider silk based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191104005249/en/
CONTACT
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com
