Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company”) announces that Company is preparing to transfer production back to Prodigy Textiles, its Vietnamese subsidiary. During the COVID-19 lockdown, when the Company opted to furlough its non-essential staff, the Company shifted its spider silk production operations focus to its US research facility. The Company is now ready to transition the majority of its production back to Vietnam
ANN ARBOR, Mich., May 12, 2020 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc.. (OTCQB: KBLB) (“the Company”) announces that Company is preparing to transfer production back to Prodigy Textiles, its Vietnamese subsidiary. During the COVID-19 lockdown, when the Company opted to furlough its non-essential staff, the Company shifted its spider silk production operations focus to its US research facility. The Company is now ready to transition the majority of its production back to Vietnam as soon as the silkworm rearing cycle allows.
During this pandemic, the Company has continued to advance and strengthen its production operations. Through vigorous testing of its Dragon SilkTM and Monster Silk® lines, the Company identified its best performing and hardy silkworms ideally suited for large scale production. This milestone is the result of a dedicated effort by its U.S. staff, going far beyond standard material performance testing. This first production cycle of 2020, at the Company’s Vietnam factory, will utilize these top performing transgenics, forming a solid foundation for the continued 2020 production scale up.
The Company anticipates rapid scale up of its recombinant spider silk and will use this year’s first production run to ship materials are dedicated to fulfill an outstanding order, by one of the Company development partners. The following production runs will be to address fiber requests made by additional potential development partners and to grow the breeding population.
“As we finish preparations for the 2020 production season, the future of Kraig Labs, has never looked brighter,” said COO Jon Rice.
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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
