Newbies this is a huge success that we have strived for for 5 years. We now have approvals for full production full steam ahead. We also have support of the country of Vietnam. The Vietnamese government is seed funding farmers to grow good for our silkworms. It’s impressive... Vietnam changed policy to accommodate Kraig and now going over and above to assist us. Kraig has created 5000 jobs in Vietnam. The fuse has been lit and the rocket is now leaving$
Kraig Biocraft Laboratories awarded expanded investment license in Vietnam
Press Release | 07/11/2019
Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announces today that the Company has been awarded an increased investment license for expansion of its recombinant spider silk production at Prodigy Textiles, its Vietnamese subsidiary.
Under the new license, the Vietnamese government increased the Company’s potential investment cap, to as high as $50 million USD. This significantly increased investment limit will now allow the Company to prepare for the second phase expansion, planned for a 123 acre site located near Prodigy Textiles’ existing facility, and is part of the Company’s systematic and structured plan to expand capacity.
This new license was awarded during a recent trip to Vietnam, taken by the Company’s COO, Jon Rice, to oversee phase one production implementation. After reviewing the progress made under this first phase and meeting with Prodigy Textiles’ president, Vietnamese officials authorized the expansion of the Company investment in scaling up recombinant spider silk production.
“The granting of this expanded license is a demonstration of confidence in Kraig Labs and the potential our eco-friendly spider silk technology has to dramatically alter the global markets for silk and performance textiles,” said 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 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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