Kraig Biocraft Laboratories Increases Planned Production by Doubling Near Term Spider Silk Production Schedule
ANN ARBOR, Mich., March 10, 2021 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company” or “Kraig Labs”), the biotechnology company focused on the development and commercialization of spider silk, announces that the Company has doubled its planned production volumes of its recombinant spider silk for the month of March.
Following the successful delivery of its first sample production run from its factory in Vietnam, the Company has further accelerated its expansion by doubling planned near-term silk output. To support this expansion, the Company has outlined plans to more than double the staff at its Prodigy Textiles subsidiary.
The silk resulting from this month’s operations is expected to begin filling existing material requests and contract deliverables to M the Movement, PL Kings. The Company is actively working now to develop the first line of apparel based on the unique properties of spider silk.
“Last month our team at Prodigy Textiles set the stage with the delivery of the first production samples of our recombinant spider silk. This month that team is delivering on the promise of a cost-effective and commercially scalable spider silk production system,” said COO Jon Rice. “I am very excited for the opportunities ahead for Kraig as we prepare to bring our spider silk to market.”
The Company seized the opportunity to expand near-term production of its eco-friendly spider silk when it was able to secure additional production inputs.
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About Kraig Biocraft Laboratories, Inc.:
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company, is a developer of genetically engineered spider silk based fiber technologies.
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 the planned production of Spider Silk, future sales of SpydaSilk™ and 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.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com
