Kraig Biocraft Laboratories, announces today that it is pursuing a possible business expansion into Cambodia to support the rapid growth and diversification of its recombinant spider silk production.
The Company’s founder and CEO, Kim Thompson, together with a joint team from Kraig Labs and Prodigy Textiles, recently surveyed potential production locations in Cambodia. During the survey the team identified areas of the country which would be suitable for production. An added draw to Cambodia is its proximity to existing Kraig Labs operations, its business-friendly environment, and specific opportunities identified by the team.
With the overwhelming success of the Company’s spring production trials and the rapid expansion of production planned for this year, management is working to add additional potential capacity and diversify its production base.
“Cambodia would be a strong complement to our expanding production operations,” said Thompson. “Diversification and expansion of our operations has been a core element of our business model. With the success of the spring production trials, we are now in a position to activate this next expansion stage.”
Production at the Company’s existing facilities is expected to continue to increase exponentially over the next two quarters, with the target of one metric ton before year’s end. Thompson and Dr. Nirmal Kumar will continue to closely monitor each stage of expansion to ensure the Company continues to build on the successes of the spring trials.
