Kraig Biocraft Laboratories Prepares for Second BAM-1 Hybrid Spider Silk Production Harvest
Rhea-AI Summary
Kraig Biocraft Laboratories (OTCQB: KBLB) announces the return of renowned sericulture expert Dr. Nirmal Kumar to oversee the completion of the second production cycle of BAM-1 spider silk hybrids. This cycle builds on the success of the first production completed in July 2024. Dr. Kumar will supervise cocoon production, monitor quality, and lead large-scale selective matings for a planned 10X capacity increase. The company aims to produce metric-ton level spider silk and solidify its position in cost-effective, eco-responsible spider silk production. CEO Kim Thompson states that 2024 is a breakout year for Kraig Labs, with ongoing expansion of BAM-1 production hybrids.
Positive
- Second production cycle of BAM-1 spider silk hybrids underway
- Renowned expert Dr. Nirmal Kumar rejoins to oversee operations
- Planning for 10X increase in production capacity
- Aiming for metric-ton level spider silk production
Negative
- None.
News Market Reaction
On the day this news was published, KBLB declined 1.92%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Renowned Sericulture Expert, Dr. Nirmal Kumar, Rejoins Team to Oversee Operations
ANN ARBOR, Mich., Aug. 05, 2024 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("the Company" or "Kraig Labs"), announces today that renowned sericulture expert, Dr. Nirmal Kumar, will rejoin the Company's team in Asia to oversee completion of the second production cycle of BAM-1 spider silk hybrids.
Dr. Nirmal Kumar rejoins the team this week, as Kraig Labs prepares to cocoon and reel the second BAM-1 hybrid spider silk production batch. This production cycle will build on the success of the first production cycle completed in July. The recombinant spider silk generated from this production batch will be available for sale and use in end-market product development.
This production cycle is the second of many scheduled for this year as Kraig Labs continues the expansion of its BAM-1 production hybrids.
The production team leaders and Dr. Nirmal Kumar have remained in close daily communications over the last month, laying the groundwork and preparing the facilities for the BAM-1 hybrids, now in production. While in-person with the team, Dr. Nirmal Kumar will supervise the cocoon production and monitor cocoon quality and reeling characteristics. Dr. Nirmal Kumar will also lead and train the team in large-scale selective matings in preparation for a 10X increase in capacity as the rainy season concludes.
During this trip, Dr. Nirmal Kumar will also review the teams' progress in building the facilities, staffing, and equipment necessary to sustain the Company's growing operations and meet its metric-ton level spider silk production target.
"The BAM-1 hybrids, in production now, continue to show the same robustness and performance demonstrated in the spring production trials. Dr. Nirmal Kumar and our team have laid a strong foundation for the massive scale-up in spider silk production, which is now underway. I am very happy to have Dr. Nirmal Kumar rejoin our production team in person as we enter this exciting phase of the rearing cycle. 2024 has been, and will continue to be a breakout year for Kraig Labs," said Company Founder and CEO, Kim Thompson. "The completion of this second production cycle for BAM-1 hybrids will solidify our production model and reaffirm our industry-leading position in cost-effective and eco-responsible spider silk production."
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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.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com
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