Kraig Biocraft Laboratories Targets Vertical Markets for its Spider Silk and Shares Planned Applications
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ANN ARBOR, Mich., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("the Company"), shares an update on near-term commercial applications and opportunities for recombinant spider silk as the Company prepares for expanding production in 2024. Spider silk has long been prized for its unique blend of chemical and mechanical properties, including strength and elasticity.
Kraig Labs is currently in the process of ramping up production trials of its recombinant spider silk under the trademark Dragon Silk™. The move to ramp up production follows on the heels of the Company's successful early production test announced in December.
During the ramp-up phase, while production quantities are relatively limited, the Company is targeting end-product applications in fashion and performance apparel. "Because production quantities will be relatively limited during the early stages of the production ramp-up, and because we will have control of that limited supply of Dragon Silk, it makes sense for us to focus on markets where we can control the end use of the Dragon Silk That will allow us to potentially share in a portion of the value-added manufacturing and distribution beyond the creation of the recombinant spider silk itself," said Company Founder and CEO, Kim Thompson. "In essence, we are looking for partial vertical integration in these early spider silk products to maximize our market position.”
As production quantities increase, the Company expects to begin addressing demand from additional market segments, including:
- Engineering textiles
- Composites
- Cosmetics
- Defensive and protective textiles
- Bio-plastics that are biodegradable and bio-compatible
- Fiber optics
- Medical textiles, fibers, ligaments, wound dressings, skin grafts, and tissue engineering
The Company believes that the enhanced strength and toughness of its Dragon Silk line of materials, combined with their bio-degradable and biocompatible properties, will be able to address existing material needs in these markets and many more.
Kraig Labs has already begun early-stage exploration into bio-plastics, medical textiles, cosmetics & defensive textile applications and expects to accelerate work in these fields as production of spider silk increases.
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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
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