Kraig Biocraft Laboratories Completes New Production Center, Expands Capacity more than Eightfold
New Facility Online and Ready for Fall Spider Silk Production
ANN ARBOR, Mich., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("the Company" or "Kraig Labs"), announces today that it has completed the second wave of its production expansion and is now transitioning spider silk manufacturing operations to its new, larger production center.
Following the overwhelming success of the spring production trials, Kraig Labs outlined a strategic investment plan to rapidly scale its production capacity, slated to take part in two waves. The first phase was completed in July, providing the necessary space for the Company to operate through the rainy season. The second and larger project was the construction of a new production center for the Company’s spider silk manufacturing operations.
Kraig Labs kicked off construction for this new production center in July. The new facility increases the Company’s rearing capacity by more than eight times its current operations. With dedicated production spaces for each BAM-1 parental line and a dedicated space for its BAM-1 hybrid hatchery, this new facility is expected to address the production space needed to meet the spider silk production schedule through 2025.
The Company is now transitioning its production operations and equipment to this new space, and finalizing the installation of backup power generation systems ahead of the next spider silk production cycle slated to begin at the end of this month.
Kicking off later this month, the first production cycle in this facility will be the largest single-cycle rearing of the BAM-1 parental strains in the Company's history. This rearing will, in turn, allow for the full utilization of this new and significantly expanded production space.
"As planned, this new facility is coming online just in time to support our fall production kick-off. The larger production center will allow us to fully leverage the supporting silk production infrastructure, maximizing the production output and bringing our spider silk manufacturing to the next level," said Company COO Jon Rice. "This center is the latest in a series of breakthroughs for Kraig Labs in commercial scale production of spider silk in 2024."
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (), 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
