ANN ARBOR, Mich., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("the Company"), signs key Memorandum of Understanding (MOU) with the Vietnam Sericulture Association (VSA) and the Lam Dong Agro-Forestry Research Experiment Center (LAREC). This collaboration is designed to enhance and expand silk production in Vietnam.
The agreement is the result of many years of work, culminating in a highly productive working session held between Kraig Labs senior management, the VSA, the LAREC, various VSA members, and Prodigy Textiles, the Company’s Vietnamese subsidiary. Under the guidance of this MOU, the Company will partner with these leading agencies to enhance and expand Vietnam's silk production.
"We have been working with various governmental ministries, agencies, and departments for an extended period of time in order to demonstrate our silk production technology and to tailor that technology to the local environment," said Company founder and CEO, Kim K. Thompson. "The MOU, and the collaboration it represents, opens up new opportunities for advanced fiber commercialization. Our goal now is to meet the challenge of expanding spider silk production to commercial scale in 2024."
In addition to this pivotal partnership with the VSA and the LAREC, Kraig Labs also reports that it is working aggressively to expand its production capacities and footprint in the first quarter of 2024. The Company's plan is to achieve metric-ton production of spider silk later this year.
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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
