ANN ARBOR, Mich., Oct. 28, 2021 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company” or “Kraig Labs”), the biotechnology company focused on the development and commercialization of spider silk, shares today that easing travel restrictions and re-opening business operations throughout Vietnam has re-energized the Company as it moves forward with the production of finished goods utilizing its specialized recombinant spider silk.
Safety protocols and restrictions enacted at the onset of the COVID-19 pandemic in Vietnam led to closures and slowdowns of many businesses throughout the country, most notably in Ha Noi and Ho Chi Minh City. The majority of these restrictions did not directly impact the Company’s subsidiary, so Prodigy Textiles, located in central Vietnam, did not stop the production of its specialized silkworms. However, those shutdowns affected Prodigy’s employees and the Company, including delayed laboratory equipment deliveries, which delayed operational growth, and slowdowns at yarn spinners and weavers, which limited the Company’s ability to convert its raw silk into finished fabrics and garments.
Now, as these restrictions are lifting, Kraig Labs is ready to accelerate the scale-up of silkworm production with the scheduled delivery and installation of new quality control (“QC”) lab equipment. In the absence of the genetic screening that this new QC lab equipment will enable, the Company intentionally maintained production below peak capacity to ensure a stable and healthy silkworm colony. Once installed, Prodigy’s facility will have onsite control systems far more advanced than nearly all silk producers.
This month brought several significant regulatory orders easing those restrictions, once again allowing the movement and travel for crucial goods, services, and personnel throughout the country. With the re-opening of textile mills and yarn spinners, Kraig Labs is now resuming work to produce the custom yarns and spider silk fabrics for the launch of SpydaSilkTM apparel, a joint development partnership with Kings Golden Harvest, PTE LTD.
“We are pleased to see conditions in Vietnam improving for its people and its economy,” said Kraig Labs COO Jon Rice. “In the coming weeks, we expect to receive and install several pieces of lab equipment delayed due to lockdowns. This quality assurance equipment will play a key role in our continued production expansion. Most critically, with this re-opening, we can once again work with the textile mills to weave our silk into the finished fabrics for the first garments for SpydaSilk and to supply materials to the numerous other brands eager to incorporate spider silk into their products.”
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully reporting biotechnology company, is a developer of genetically engineered spider silk based fiber technologies.
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
