Kraig Biocraft Laboratories In Stock Price, News & Analysis

Kraig Biocraft Laboratories (KBLB) reported updates on its spider silk production amid COVID-19 restrictions affecting operations in Vietnam. The company has successfully produced silk for various fabric blends in collaboration with PL Kings, but delivery delays are anticipated due to heightened restrictions. Prodigy Textiles has experienced production slowdowns, and egg shipments faced significant delays, resulting in lost inventory. Despite these challenges, KBLB's R&D has advanced, leading to the development of new spider silk strains. The company aims for a national exchange uplisting, but COVID-19 delays are impacting market demand verification.

Kraig Biocraft Laboratories (OTCQB: KBLB) has successfully installed new automated mulberry processing equipment at its Vietnam factory, enhancing spider silk production. This automation can process 300 kg of mulberry leaves per hour, resolving a significant bottleneck in silk manufacturing and ensuring consistent quality. Despite ongoing COVID-related challenges in Vietnam, the team has accomplished this ahead of schedule, marking a pivotal advancement in their production capabilities. This development aims to meet increasing demand for sustainable spider silk fiber.

Kraig Biocraft Laboratories (OTCQB: KBLB) has announced the transfer of its onsite testing technology to its subsidiary, Prodigy Textiles, in Vietnam. This strategic move aims to enhance production efficiency and facilitate the development of disease-resistant silkworms. By relocating testing and screening operations, the company expects to eliminate delays caused by transporting samples and streamline its production processes. The initiative is part of a broader plan to combat the loss of global silk production, which sees approximately 20% loss due to pathogens.

Kraig Biocraft Laboratories (OTCQB: KBLB) announced significant investments to enhance its production capabilities in Vietnam, focusing on spider silk processing. New automated equipment is set to improve production efficiency at the Prodigy Textiles facility, paving the way for expansion. The facility faced operational challenges due to COVID-19-related shipping restrictions, but with these enhancements, the company aims to mitigate bottlenecks. COO Jon Rice emphasized the importance of building resiliency in production as the company prepares for a post-pandemic environment.

Kraig Biocraft Laboratories (OTCQB: KBLB) announces significant advancements via its joint venture, Spydasilk Enterprises, with Kings Group. The partnership has applied for four brand trademarks centered on spider silk technology with the US Patent and Trademark Office. These trademarks aim to enhance branding for their yarns and textiles. Additionally, Spydasilk Enterprises plans to expand its distribution network and explore markets beyond apparel, potentially increasing an exclusive agreement valued at up to US$40 million.

Kraig Biocraft Laboratories has formed a joint venture with Kings Golden Harvest, establishing Spydasilk Enterprises in Singapore. This venture is linked to a $40 million exclusive purchase and sales agreement. Spydasilk Enterprises aims to develop luxury streetwear leveraging Kraig's spider silk technology, targeting the ASEAN market. Both companies anticipate significant demand for spider silk products across various industries. This partnership is a strategic move for Kraig Labs to integrate vertically and enhance profit margins through innovative biocompatible and biodegradable fibers.

Kraig Biocraft Laboratories (KBLB) announced that the University of Notre Dame has received a Vietnamese patent for spider silk technology, enhancing KBLB's intellectual property portfolio. The patent number 26612, covering a novel chimeric spider silk polypeptide, grants KBLB exclusive global licensing rights until September 2031. This news indicates an expansion of KBLB's operational foothold in Vietnam, with ongoing applications in other jurisdictions. COO Jon Rice highlighted this as a significant achievement for both the company and their collaborating researchers.

Kraig Biocraft Laboratories (OTCQB: KBLB) announced it has doubled its planned production of recombinant spider silk for March 2021 after a successful initial run from its Vietnam factory. The company aims to meet existing material requests and contract deliverables, particularly for M the Movement and PL Kings. Kraig Labs is also expanding its staff at Prodigy Textiles to support increased production capacity. COO Jon Rice expressed optimism about the future of the company as they prepare to bring their eco-friendly spider silk to market.