ANN ARBOR, Mich., Jan. 23, 2025 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("the Company" or "Kraig Labs"), a leading developer of spider silk-based fibers, proudly announces that it has received a new investment license in Vietnam. This strategic authorization marks a significant milestone in the Company's mission to expand its production operations to meet the growing demand for its high-performance spider silk materials.
The newly acquired investment license empowers Kraig Labs to scale its production operations significantly and begin addressing the growing requests for materials and requests for quote that it has been fielding. This expansion will bolster the Company's ability to provide its innovative materials to a broad spectrum of markets, including textiles, defense, and medical sectors, eagerly anticipating these breakthrough fibers' commercial availability.
"We are thrilled to secure this new investment license in Vietnam. This license is a testament to our commitment to expanding our production capabilities and the confidence the team placed in our technology," said Founder and CEO of Kraig Labs, Kim Thompson. "This license positions us to grow our production footprint and fulfill the increasing demand for materials. This expansion is moving us forward with our vision for cost-effective spider silk production become a reality."
The Company’s expansion plans in Vietnam include developing advanced rearing facilities and increasing the production of its advanced materials. The Company remains committed to environmentally sustainable practices, leveraging its biotech innovations to deliver materials that are strong, lightweight, and eco-friendly.
This development aligns with Kraig Labs' vision to revolutionize material science by bringing to market one of the most sought-after and impactful biomaterials of the 21st century.
For details about other recent advancements the Company has made, please see the Company's investor conference at www.kraiglabs.com/videos or through the Company's YouTube Channel https://www.youtube.com/@kraigbiocraftlaboratories2270.
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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0030042a-b464-4ac8-b0be-757a79a2fc9a
