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.”
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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
