Kraig Biocraft Laboratories Inc OTCMKTS: KBLB 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.
Kraig Biocraft Laboratories Inc OTCMKTS: KBLB announces today that its recombinant spider silk technology will be featured in a documentary focused on combating terrorism. The Company opened the doors of its R&D headquarters, for the first time to the media, to host a French documentary film crew and provided them with access to the process of creating its incredible spider silk technologies.
Tougher and more flexible than competing materials, spider silk offers the promise of increased protection, comfort, and mobility in protective textile applications. In addition to this documentary, the Company has been covered by numerous media outlets, including the following T.EVO, Textile Evolution
“Our team is incredibly proud of the work we do here and the impact that our Company is already making in these important markets,” said COO Jon Rice. “It was a pleasure to be able to share the results of our efforts and to showcase this amazing technology, along with its potential to disrupt the protective textile and related markets.”
The series is planned to air in the fall of 2019. Although the footage was shot at Kraig Labs’ R&D headquarters in Michigan, the Company continues to focus its efforts on scaling up its production operations, through its subsidiary, Prodigy Textiles Ltd., in Asia. By utilizing the existing global silk infrastructure and Kraig Labs’ engineered silkworm technology, the Company is set to meet cost and volume metrics, previously thought to be impossible, in the commercialization of spider silk for these lifesaving applications in protective textiles.
Kraig Biocraft Laboratories Inc OTCMKTS: KBLB announced that, through its subsidiary Prodigy Textiles, the Company has signed a new 5 year lease on a factory, expanding its production footprint in Vietnam. The roughly 50,000 ft2 facility in Quang Nam province is expected to play a major role in supporting the Companys increasing production capacity of its proprietary recombinant spider silk technologies.
Our team in Vietnam, led by Mr. Kenneth Le, has done an excellent job of scouting, selecting, and negotiating the terms of this deal. With its close proximity to the necessary mulberry fields, and easy access to shipping ports, this facility will serve as a springboard for Kraig Labs’ introduction of spider silk into the global textile markets, said COO Jon Rice.
The Company expects to begin transferring its technology into the larger factory from the temporary facility that Prodigy Textiles has been utilizing since December of 2018.
Kraig Biocraft Laboratories Inc OTCMKTS: KBLB announced that it has initiated the process of identifying qualified corporate leaders, to assist in the Company’s growth, as it plans to add two new independent corporate board directors.
“With the successful delivery of our proprietary spider silk technology to Prodigy Textiles, our Vietnamese subsidiary, we are now moving into the production phase of our business plan. We believe that this is the right moment to bring on additional expertise to support the Company’s efforts to bring spider silk to the performance textile markets. The addition of these new board members will assist our growth through this exciting transition to commercialization and help keep our focus on continuing to create shareholder value,” stated COO, Jon Rice.
Expanding the Board of Directors is an important advancement in Kraig Labs’ business model and is an important milestone for the Company as it contemplates uplisting to a larger exchange.
“We plan to conduct a careful search, to identify independent board members who can contribute expertise and crucial market experience, as we look to rapidly grow our capacity and expand our strategic market channel partner networks,” said CEO and Founder, Kim Thompson.