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Kraig Biocraft Laboratories Signs Landmark Agreement in Vietnam's Silk Production Capital

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Kraig Biocraft Laboratories, Inc. signs a significant agreement with the Vietnam Sericulture Association to enhance production capabilities and obtain intellectual property registration for its BAM-1 hybrid silkworm strain, strengthening collaboration and setting the stage for increased production levels over the next two years.
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ANN ARBOR, Mich., April 08, 2024 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("the Company" or "Kraig Labs"), announces today that it has signed a landmark agreement with the Vietnam Sericulture Association ("VSA"). As part of this agreement, the Company disclosed its production plans and schedule for the next twenty-four months to the VSA to obtain cooperation in reaching its production targets. This agreement establishes a collaborative working effort between the Company and the VSA, something the Company has been actively working towards for some time.

Under the terms of the agreement, in addition to support and advice on production logistics, the VSA has agreed to assist the Company in obtaining formal intellectual property registration of its BAM-1 hybrid silkworm strain in Vietnam.

This definitive agreement strengthens the collaboration between the Company and the VSA, building on and expanding the Memorandum of Understanding announced on January 30, 2024. This landmark agreement establishes the framework and much of the logistical support needed for the Company to achieve metric-ton levels of production.

"This agreement is the culmination of many years of work with various governmental and non-governmental agencies to demonstrate our technology and its potential," said Company founder and CEO, Kim K. Thompson. "This new relationship with the VSA underlines our commitment to South East Asia and, we believe, significantly strengthens our position as we scale up production. With this agreement finalized, we are now working jointly with a capable partner to see that vision fulfilled."

"We have been following developments at Kraig Labs for many years and are very happy now to be working directly with them," said Dr. Le Quang Tu, President of the Vietnamese Sericulture Association. "We believe that Kraig's technology will have a significant positive impact on our industry. They have applied a thoughtful, step-by-step approach. Now, we will take a step together."

The Company's CEO remains in Vietnam, overseeing operations directly. Kraig Labs anticipates that Thompson will provide additional announcements and updates regarding the Company's accelerating progress over the coming weeks.

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news   

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


FAQ

What agreement did Kraig Biocraft Laboratories, Inc. sign recently?

Kraig Biocraft Laboratories, Inc. signed a landmark agreement with the Vietnam Sericulture Association.

What is the purpose of the agreement with the Vietnam Sericulture Association?

The purpose of the agreement is to enhance production plans, schedule, and obtain intellectual property registration for the BAM-1 hybrid silkworm strain.

Who will assist Kraig Biocraft Laboratories, Inc. in obtaining intellectual property registration in Vietnam?

The Vietnam Sericulture Association has agreed to assist the Company in obtaining formal intellectual property registration.

What does the agreement between Kraig Biocraft Laboratories, Inc. and the VSA aim to achieve?

The agreement aims to strengthen collaboration, provide production logistics support, and reach metric-ton levels of production.

Who oversees operations directly in Vietnam for Kraig Biocraft Laboratories, Inc.?

The Company's CEO, Kim K. Thompson, remains in Vietnam, overseeing operations directly.

Kraig Biocraft Laboratories, Inc.

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About KBLB

kraig biocraft laboratories, inc. (trading symbol: kblb) is a fully reporting biotechnology company focused on the development and commercialization of spider silks. as a reporting company, our annual and quarterly reports to the sec can be found on edgar and on this website. our investments in genetic research are targeted for product development and innovative near-term solutions to meet the practical problems of our world. our genetic engineering research has succeeded in developing what many considered to be the holy grail of material science: a practical and cost-effective technology for producing recombinant spider silk based fibers on an industrial scale. we are moving rapidly to commercialize of our spider silk technology, which we believe will have a significant impact on the global textiles industry. at the same time we are continuing to work in cooperation with leading laboratories to create new stronger and more flexible spider silk based fibers with potentially broad appli