ANN ARBOR, Mich., April 05, 2023 (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 today that it is preparing a response to the United States Air Force under the Defense Production Act Investments (DPAI) program. In its efforts to strengthen the U.S. bio-industrial manufacturing capabilities, the U.S. Government is seeking input from industry to identify target areas for governmental investment.
Under the 2023 National Defense Authorization Act and through executive order, the Secretary of Defense has been authorized to "incentives the expansion of domestic, flexible industrial biomanufacturing capacity for a wide range of materials." Biosynthetic fibers such as spider silk were specifically identified as a material/technology of interest under this directive.
Kraig Labs is preparing a detailed response for submission to the U.S. Air Force by its April 19 deadline. While this request for information does not guarantee a subsequent request for proposal or that funding will be available, it does signify the importance that materials, such as spider silk, can play both economically and defensively.
"We are very pleased to see the renewed support and interest from the Department of Defense (DoD) to strength the U.S. industry supply base for bio-engineering and bio-manufactured materials," said Company COO Jon Rice. "I believe that Kraig Labs is and will remain a key player in our domestic biomanufacturing capabilities, and we welcome the opportunity to bring the DoD up to date with our progress and the opportunities that lie ahead."
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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
