Kraig Labs expands domestic spider silk production in response to increased demand
ANN ARBOR, Mich., -July 26, 2016- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, today announced the signing of a lease, and taking of possession, for its new production facility in Indiana. The Company has already begun interior construction and expects to have the facility ready for operations by August 10, 2016. This facility is expected to increase the Company’s US production capacity by nearly twenty times. This facility will be used to fulfill the Company’s recently awarded contract from the US Government and to potentially supply additional collaborative textile developers.
“This expanded domestic capacity should allow us to be more responsive to customers in both capacity and variety of spider silk materials,” said COO Jon Rice. “This growth of our production capacity will allow us to expand our relationships with both industry and governmental collaborators. We are looking forward to the inauguration of this new production facility within the next two weeks.”
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully 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.
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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