ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

KBLB Kraig Biocraft Laboratories Inc (QB)

0.121
0.0058 (5.03%)
Last Updated: 15:43:08
Delayed by 15 minutes
Share Name Share Symbol Market Type
Kraig Biocraft Laboratories Inc (QB) USOTC:KBLB OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0058 5.03% 0.121 0.121 0.1245 0.12825 0.1152 0.1152 242,498 15:43:08

Kraig Biocraft Laboratories' Spider Silk Production Poised to Double

29/05/2014 11:05am

GlobeNewswire Inc.


Kraig Biocraft Laborator... (QB) (USOTC:KBLB)
Historical Stock Chart


From May 2019 to May 2024

Click Here for more Kraig Biocraft Laborator... (QB) Charts.

Kraig Biocraft Laboratories, Inc. (OTCQB:KBLB) ("Company"), the leading developer of advanced spider silk based fibers, announced that its production evaluation team reported that the Company's genetically engineered spider silk, Monster Silk™, production program is thriving and is successfully accommodating a recent significant increase in the scale of production.

The Company previously reported that its pilot production program's viable silk cocoon yield rate was at approximately 30%, in late 2013. By March, after launching the commercial production ramp up program, the yields increased to approximately 70%; more than double the output efficiency from the pilot phase.   The latest report is that with the increased scale of operations in May, the high yields appear to be holding, and possibly improving even further.

The Company believes that the high yield is a result of a combination of improved production procedures and adaptability. The Company is ordering a further doubling of production in June.

"We always believed that our scientific model would translate very well into real world environments, but to actually see our silkworms perform at this level is inspiring. The technology is now outperforming the infrastructural capacities, which bodes well for future product, and production, expansion," said Company Founder and CEO, Kim K. Thompson. 

"The fact that the reported yield rates are holding, or improving, has given us the confidence to authorize a doubling of the scale of production. We anticipate this next larger production run will launch in June. We are excited and encouraged to see that our systems are holding up well as we increase the scale of Monster Silk™ production, and we are working with third parties to strengthen the infrastructure to support the increased production," Thompson concluded.

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.

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.

CONTACT: Ben Hansel, Hansel Capital, LLC.
         (720) 288-8495
         ir@KraigLabs.com

1 Year Kraig Biocraft Laborator... (QB) Chart

1 Year Kraig Biocraft Laborator... (QB) Chart

1 Month Kraig Biocraft Laborator... (QB) Chart

1 Month Kraig Biocraft Laborator... (QB) Chart

Your Recent History

Delayed Upgrade Clock