Kraig Biocraft Laboratories, Inc., the biotechnology company focused on the development and commercialization of spider silk, announces it has completed production of the first Dragon Silk yarn produced entirely in Vietnam.
ANN ARBOR, Mich., Jan. 18, 2022 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company” or “Kraig Labs”), the biotechnology company focused on the development and commercialization of spider silk, announces it has completed production of the first Dragon Silk yarn produced entirely in Vietnam. The finished recombinant spider silk yarn was spun from raw spider silk produced at Prodigy Textiles, the Company’s subsidiary located in Quang Nam province, Vietnam.
Today’s announcement marks a significant milestone for Kraig Labs, Prodigy Textiles, and the large-scale production of recombinant spider silk. This production run of Dragon Silk exhibits Prodigy Textiles’ full integration into Vietnam’s substantial silk textile industry. Vietnam produced nearly 1,000 metric tons of mundane silk in 2020.1 This same supply chain was used, from start to finish, to create the first Dragon Silk made entirely in Vietnam.
While Prodigy Textiles remains focused on ramping up the output of recombinant spider silk cocoons, these supporting vendors will play an essential role in processing that silk into finished goods for a wide range of consumer markets.
The Company plans to ship this Dragon Silk yarn to SpydaSilk Enterprises, in Singapore, a joint venture partially owned by the Company, for weaving into fabrics and finished garments.
Over the coming months, Prodigy will continue to leverage this expanded silk production success to address the material needs of SpydaSilk and make additional materials available for purchase to fill the numerous and backlogged material requests it has received.
“The successful completing of this Dragon Silk yarn produced entirely utilizing the Vietnamese supply chain is a substantial achievement for the Kraig Labs and our vision for eco-responsible and cost-effective spider silk,” said COO Jon Rice. “I am extremely proud of the team at Prodigy for achieving this major milestone, while overcoming several obstacles to get this done as quickly as they did. 2022 is positioned to be a breakout year for the commercial sales of Dragon Silk and our broader recombinant spider silk technologies.”
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully reporting biotechnology company, is a developer of genetically engineered spider silk based fiber technologies.
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
1https://inserco.org/en/statistics
