Business plan

Kraig Biocraft Laboratories enters the next phase of its business plan and signs an agreement with a contract manufacturer to produce metric tons of recombinant spider silk


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ANN ARBOR, Michigan, July 18 11, 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, announces the signing of its first production contract with a third party for the large-scale manufacture of the company’s recombinant spider silk. The Company expects to immediately commence operations with this contractor to produce hundreds of kilograms of spider silk per month and achieve production levels reaching several metric tons of spider silk per month as early as the first quarter of 2023. The contractor is in possession of the company’s Specialty Eggs and expects a 90-day ramp-up for first deliveries under the contract.

Pilot testing with this contractor in the first two quarters of 2022 has demonstrated this manufacturer’s ability and expertise to operate at scale and with excellent quality.

Under the terms of the contract, Kraig Labs will become a minority owner of the silk producer. Kraig Labs will have full access to the manufacturer’s financial records and on-site presence to ensure the proper handling and safety of the company’s proprietary spider silk technology.

“Our business model was designed to take advantage of the existing silk production infrastructure. The signing of this agreement rapidly expands our access to this production network and brings us to the next critical step in our business plan,” said Jon Rice, the company’s chief operating officer. “Working with this contract manufacturer, we will soon be ready to deliver metric tons of eco-responsible, cost-effective spider silk to consumer markets.”

In the coming days, the company plans to release the first in a series of behind-the-scenes videos of its operations in Vietnam and the marketing of its spider silk materials.

To view the latest news from Kraig Labs and/or to sign up for company alerts, visit www.KraigLabs.com/news.

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully responsible biotechnology company, is a developer of genetically engineered spider silk fiber technologies.

Caution Regarding Forward-Looking Information

Statements in this press release regarding the future of the Company and expectations other than historical facts are “forward-looking statements.” These statements are made based on management’s current beliefs and assumptions. Accordingly, there can be no assurance that management’s expectations will necessarily be realized. These forward-looking statements can generally be identified by expressions such as “believes”, “plans”, “expects”, “anticipates”, “expects”, “estimates”, “hopes”, “if”, “develops”. , “seeking”, “seeking”, “pilot”, “potential”, “could” or other words or phrases of similar significance. Forward-looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All of these forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Ben Hansel, Hansel Capital, LLC (720) 288-8495[email protected]

Source: Kraig Biocraft Laboratories