- Oops!Something went wrong.Please try again later.
Management's crowded Agenda includes meetings with Governmental Officials and intensive Factory Team Training
ANN ARBOR, Mich., June 08, 2022 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("Company" or "Kraig Labs"), the biotechnology company focused on the development and commercialization of spider silk, sends senior members of its US management and research team to Vietnam to support multiple aspects of operations focused on production expansion and development of end markets.
This trip marks the return to normal travel and the participating management team members have a packed agenda for this trip, following the lifting of travel restrictions.
Jon Rice, the Company's Chief Operations Officer, will be traveling throughout Vietnam to support Kraig Labs' production expansion and commercialization on several fronts. Rice will be meeting with government officials in multiple provinces to discuss additional lands for production and secure support for the further expansion of the Company's spider silk technologies. He will hold a series of meetings with a contract silk manufacturer with the goal of securing an agreement for 3rd party silk production. In previous discussions, this manufacturer already outlined a production scale-up plan to produce as much as 200 metric tons of silk per year. Another key goal for this trip will be meetings with Kraig Labs’ joint venture partners, PL Kings, and finalizing plans for the initial product launch under the Spydasilk brand. Rice plans to review textile mills under consideration for the production of the first recombinant spider silk fabric under the Spydasilk brand.
"This is a timely and much-needed trip that will allow us to make the best onsite decisions for Prodigy's existing operations and the numerous potential expansion opportunities ahead. We're also excited to bring our US and Vietnam teams together to meet the Company's evolving needs and address, in person, a diverse list of items that will set the direction of Kraig Labs' next growth phase," stated Rice.
The Company is sending its senior scientist, Dr. Miller, to transfer additional process control technologies to the newly formed lab team at Prodigy Textiles, the Company's wholly-owned Vietnamese subsidiary. Dr. Miller will provide hands-on training for the implementation of several key production initiatives, including the installation of additional laboratory and production equipment, and transferring additional R&D technology. Dr. Miller will devote the majority of his time and efforts to working with new genetic screening protocols and auditing current production processes.
"Dr. Miller's focus will be on aligning the Prodigy laboratory team members' efforts with his vision for the laboratory and its role in supporting production growth. This will ensure that the lab team members are optimally trained and positioned to support the production team and cement Prodigy as the top silkworm breeding facility in Vietnam," concluded Rice.
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 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