Kraig Biocraft Laboratories Announces New Spider Silk Production Contract

Rhea-AI Summary

Kraig Biocraft Laboratories (OTCQB: KBLB) has announced a new production agreement for its recombinant spider silk technology. This agreement aims to enhance the company's production capabilities by collaborating with existing silk manufacturers to adapt their facilities to produce Kraig Labs’ proprietary spider silk. The deal underscores the company's ongoing efforts to commercialize spider silk production, following the rollout of new production hybrids earlier this year. CEO Kim Thompson highlighted the company's commitment to expanding its production footprint and capacity, emphasizing the potential of commercial-scale spider silk. For more details, visit Kraig Labs' website.

Positive

• Kraig Biocraft Laboratories has signed a new production agreement to manufacture recombinant spider silk, potentially increasing production capacity.
• The agreement involves adapting existing silk manufacturing facilities to produce Kraig Labs’ spider silk, indicating a strategic expansion.
• CEO Kim Thompson emphasizes the company's dedication to commercial-scale spider silk, which can positively influence future revenue streams.

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• None.

ANN ARBOR, Mich., July 08, 2024 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("the Company" or "Kraig Labs"), announces today that it has signed a production agreement for the manufacturing of its recombinant spider silk technology. This production agreement builds upon the Company's success with the rollout of its new spider silk production hybrids earlier this year.

Under the terms of this agreement, Kraig Labs will work with silk manufacturers to adapt their existing production facilities and networks to produce Kraig Labs proprietary spider silk.

The recently announced buildout of additional production facilities is a component of this agreement and the Company’s efforts to expand spider silk production.

“We are making big moves to bring commercial-scale spider silk manufacturing online. This agreement will allow us to expand our production foot print and capacity,” said Company Founder and CEO, Kim Thompson. “We will continue to take bold actions, take smart risks, and invest in endless possibilities that commercial scale spider silk has to offer.”

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 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

FAQ

What is the new production agreement announced by Kraig Biocraft Laboratories?

Kraig Biocraft Laboratories has signed a new production agreement to manufacture its recombinant spider silk technology.

How will the new contract affect Kraig Biocraft Laboratories' production capabilities?

The agreement will enhance production capabilities by adapting existing silk manufacturing facilities to produce Kraig Labs' proprietary spider silk.

What did Kraig Biocraft Laboratories announce on July 08, 2024?

On July 08, 2024, Kraig Biocraft Laboratories announced a new production agreement for the manufacturing of its recombinant spider silk technology.

What is the significance of the new spider silk production contract for Kraig Biocraft Laboratories (KBLB)?

The new contract signifies Kraig Biocraft Laboratories' efforts to expand its production footprint and capacity for commercial-scale spider silk.

What recent efforts by Kraig Biocraft Laboratories are related to the new production agreement?

The production agreement builds on the company's recent rollout of new spider silk production hybrids and plans to build additional production facilities.