Kraig Biocraft Laboratories has announced that Jon Rice, the company’s COO, held meetings with senior Vietnamese officials, in Quang Nam, and US government officials, at the US Embassy, in Hanoi, Vietnam, to speed up production ramp-up plan for Prodigy Textiles Co., Ltd. Kraig is a developer of genetically engineered spider silk based fibre technologies.
The company has already received its business license for Prodigy Textiles and its investment authorisation for up to US $2.2 million, to fund the first phase of its spider silk commercialisation scale up efforts in Quang Nam. This approved first phase includes the importation of the company’s hybrid silkworms and production of Prodigy Textiles’ unique high performance silk.
During the meeting with officials in Quang Nam, the company requested an acceleration of the project schedule, including authorisation and the investment license for the second phase of operations, with a total investment cap of up to US $50 million. The second phase of the company’s investment plan includes the development of a 50 hectare parcel of land and the construction of a new dedicated factory, designed to support the company’s five year expected recombinant spider silk production output needs. The company has already begun to work with a local architectural firm to develop the plans for this unprecedented facility and spider silk production complex.
Jon Rice, COO said, “Our meetings in Vietnam were highly productive. Working with officials in Quang Nam, our team of consultants, and US government staff in Hanoi, we have establish a clear plan and roadmap to accelerating our efforts to bring affordable spider silk to the global market. The first phase of this effort is underway now and, based on our recent meeting, we hope to have authorisation for the expanded phase two effort well ahead of our initial schedule.” (GK)
Fibre2Fashion News Desk – India