24/7 Market News- Sustainable Biomaterial Leaders making Moves

August 29, 2024

DENVER, Colo., Aug 29, 2024 (247marketnews.com)- Kraig Biocraft Laboratories (OTCQB: KBLB), a pioneer in sustainable high-performance biomaterials and biomimicry, and Bolt Threads (Nasdaq:BSLK) are making big moves this week.

Kraig Labs reported that, under the guidance of its senior consultant, Dr. Nirmal Kumar, a leading sericulture authority, the Kraig Labs production team modified the processing of its finished spider silk cocoons, which increased total silk yields per cocoon and improved reeling performance.

Kim Thompson, founder and CEO of Kraig Labs, stated, “Increasing processing efficiency and cocoon yield was one of Kraig’s top three goals for increasing production.

“Congratulations to the production team for these dramatic improvements. We anticipated many more months of work before seeing these results. Now we can focus on increasing individual cocoon size, and overall production volumes. I believe that even further gains in possessing yield can be achieved over the next two production cycles.”

Dr. Nirmal Kumar and the Kraig Labs production team harvested the third production cycle of its proprietary BAM-1 hybrid spider silk cocoons last week and selective matings of these top-performing moths will be used to create the next generation of BAM-1 parental line and BAM-1 production hybrids.

Jon Rice, CEO of Kraig Labs, added, “Dr. Nirmal Kumar has evolved our operations at an incredible pace, bringing nuanced details and innovative troubleshooting that has netted outsized returns at a rapid pace.

“These small details and tweaks in processing the finished cocoons have yielded huge improvements in finished silk yield. Undoubtedly, his continued guidance will play a major role in our continuing expansion of production.”

Bolt Threads (Nasdaq:BSLK) is experienced its best trading day, hitting $4.25 and over 33 million shares, since it recently closed its business combination with Golden Arrow Merger Corp and began trading on the Nasdaq Stock Market on August 14, 2024.

Concerning the recent transaction closing Dan Widmaier, co-founder and CEO of Bolt, commented, “We are pleased to begin our next chapter in the public market as the leading biomaterials platform, focused on transforming the high-volume consumer goods industries by delivering superior alternative materials tapped from nature,” said Dan Widmaier, Bolt Threads co-founder and chief executive officer. “We are thankful to our leadership team, employees and partners for their support on our journey. We believe Bolt Threads is well-positioned to capitalize on significant growth opportunities and generate substantial value for all stakeholders.”

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