ANN ARBOR, Mich.–(BUSINESS WIRE)– Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announced today that the Company is nearing completion of the second production cycle, of recombinant spider silk, at its Vietnamese production factory. The Company expects to begin shipping the specialized silk cocoons by next week. These cocoons will be turned into the first recombinant spider silk yarn from this new facility and, once complete, will be sent to the US, for testing and delivery to customers.
The Company transferred production operations, in October of this year, to the Prodigy Textiles factory, the Company’s Vietnamese subsidiary. Over the last two months, the Company has been scaling this facility’s throughput, nearly tripling its skilled workforce to support its rapidly growing operations.
The Company’s COO, Jon Rice, is currently in Vietnam overseeing operations, assisting in preparations for this first shipment, and guiding the implementation of additional operational process controls. During this trip, Rice and Prodigy Textiles’ management are also working with local government officials to assess and plan the allocation of additional land and facilities to grow Prodigy’s operations.
“Our production team continues to deliver on the lofty expectations we have outlined for them,” said Rice. “With production scale up now well underway and the first shipment scheduled for delivery soon, Prodigy management and I are pressing forward with an even greater vision of where we can take the Company.”
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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/20191217005196/en/
Ben Hansel, Hansel Capital, LLC
Source: Kraig Biocraft Laboratories, Inc.
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