Kraig Biocraft Laboratories Completes Hatching Second Generation of Silkworms
Rapid Expansion of recombinant Spider Silk production on track to grow Operations and yield Fibers for first significant fabric production run
ANN ARBOR, Mich.--(BUSINESS WIRE)-- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announced today that Prodigy Textiles, the Company’s Vietnamese subsidiary, has completed hatching the second generation of silkworms, as it continues to expand production at its factory in Quang Nam province. This second generation is several hundred times larger than the first generation. The resulting cocoons from this production cycle will be used to fulfill the first commercial shipments from this new factory.
With hatching complete, the Prodigy Textiles team is now busy rearing this significantly expanded silkworm population. The Company anticipates these silkworms becoming cocoons over the next two weeks, with this batch of specialized silk expected to be completed by Christmas. This cycle represents the largest single month’s production of recombinant spider silk in the Company’s history. The Company expects this record to be quickly broken, as it continues to expand its Vietnamese operations, heading into 2020.
The Company will be sending its COO, Jon Rice, to Vietnam to oversee the completion of this second generation. During this trip Rice will work with the Prodigy team, as it prepares to convert the resulting cocoons into finished silk yarn. Rice will also set the stage for further expansion with the next production cycle slated to begin in early January.
“The smooth transition from our first production batch to this much larger second generation is a testament to the quality of the great team we have put together in Vietnam,” said Rice. “I look forward to working hand in hand with them, later this month, to plan out the next phase of our rapid growth and to implement additional processes to support our expanding operations.”
“The pace of our production scale up is exceeding even my expectations,” said CEO and Founder, Kim Thompson. “We’ve always believed that once we launched production in Vietnam that our growth would be rapid. Today’s announcement that we have begun the second production cycle is another in a series of exciting milestones for spider silk commercialization and Kraig Labs.”
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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.
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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/20191203005279/en/
Ben Hansel, Hansel Capital, LLC
Source: Kraig Biocraft Laboratories, Inc.
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