Kraig Biocraft Laboratories, Inc., the biotechnology company focused on the development and commercialization of spider silk, announces that the Company received its first small shipment of spider silk from Prodigy textiles, its wholly-owned Vietnamese subsidiary.
ANN ARBOR, Mich., Feb. 23, 2021 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company” or “Kraig Labs”), the biotechnology company focused on the development and commercialization of spider silk, announces that the Company received its first small shipment of spider silk from Prodigy textiles, its wholly-owned Vietnamese subsidiary.
The Company has received fiber requests from a broad range of interested parties, including companies that produce products in the fields of sports apparel, industrial textiles, first responder supplies, medical products, and other manufacturers. In order to meet this demand, the Company established Prodigy Textiles to scale up the production of its recombinant spider silk fibers, threads, and textiles.
The Company’s operations at its Prodigy Textiles facility are now moving forward to significantly expand the Company’s spider silk production. The Company expects to begin filling the backlog of material requests, including requests from Polartec LLC and MtheMovement, as this added capacity comes online.
“I want to thank the Prodigy Textiles team for making this milestone possible and setting the stage for our expansion. This helps us transition from being the leading developer of spider silk technologies to the producer and supplier of high quality spider silk fibers,” said Jon Rice, the Company’s Chief Operations Officer. “Now we can focus on meeting the substantial demand for spider silk and solidifying market channel partnerships to reach our goal to develop and bring new products to market.”
To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news.
About Kraig Biocraft Laboratories, Inc.:
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a 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 future sales of SpydaSilk™ and 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
