Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announced that it has implemented new quality assurance management and production procedures at Prodigy Textiles, the Company’s Vietnamese subsidiary, based on lessons learned from its production rollout.
The Company embarked on an aggressive winter production rollout to accommodate urgent requests for materials from specific collaboration partners and potential customers. The result was a launch during what is normally the Vietnamese silk offseason. In this process we discovered and addressed two challenges, obtaining quality mulberry for feedstock and climate controls in the new facility during the offseason. The Company has addressed these issues as described below.
The production hiccup caused by the winter launch is not expected to impact the Company’s business plan or prospects. Kraig Labs intends to be first to market and is keeping the momentum going by continuing its breeding programs, as the Company’s plans to produce its first commercial batch of Dragon Silk are still in progress.
For the immediate production run, the winter temperature has resolved itself, as we enter February, which is generally considered a better month for rearing silk worms. Whereas, for the following winters, the Company will enhance its climate control protocols, to ensure uniform and consistent year round production.
Kraig labs has also taken steps to ensure that feedstock will not disrupt its future winter production cycle, by utilizing land set aside from the government to immediately plant an additional 40 acres of mulberry trees. This increased capacity and continuous supply of high quality mulberry is an important component of the Company’s production operations. This expansion of lands available to the Company and its work with the local farming cooperatives will allow for tighter control and ensure that this key input is readily available and of the highest quality.
Additionally, the Company installed and began utilizing specialized fiber testing equipment, which mirrors that of its research headquarter, in the United States, to monitor fiber performance, including tensile strength and elasticity. This equipment allows for the identification and selective mating of the best performing silkworms.
The Company has remained in communication with its collaboration partners, informing them of this temporary delay in shipping, who have been supportive of these production actions and look forward to receiving the highest quality fibers.
The Company’s technology is sound, as the tests of the Prodigy Textile production facility fibers mirror the results from its US laboratory. Kraig Labs will continue to monitor and implement procedures to ensure its product meets its high standards and its potential commercialization partners’ expectations.
“Kraig Labs is laser focused on the commercialization of our exceptional materials. Recognizing challenges to that vision and quickly adapting to overcome those obstacles is a core piece of our corporate DNA,” said COO Jon Rice. “By implementing the new processes, Kraig Labs continues to show its commitment to upholding sustainable fiber production and goals, as well as our commitment to our valued business partners. Despite our winter launch hiccup, we remain on track to meet our goal of delivering superior fibers to our clients.”
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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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200130005302/en/
Ben Hansel, Hansel Capital, LLC