#Raw Materials

2022-11-24

Kraig Biocraft Laboratories completes closeout of $8 Million financing, extinguishing all convertible debentures with Yorkville advisors

Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("Company" or "Kraig Labs"), the biotechnology company focused on the development and commercialization of spider silk, announces that it has completed the debt-to-equity conversion on $8 million of convertible debentures with Yorkville Advisors. This closeout comes several months ahead of schedule and positions the Company to enter 2023 without any convertible debt obligations to Yorkville Advisors.

The Company would like to thank Yorkville Advisors and Maxim Group for supporting its vision to transform the textile markets with large-scale production of cost-effective and eco-responsible spider silk.

Kraig Labs currently has more than $4.5 million of deployable liquid assets and will continue to use this capital to develop end-market products and strengthen the supply chain creating its revolutionary spider silk technologies.

“While this financing has been a critical element of our transition to commercialization, we are pleased to report that we have eliminated the burden of this debt and enter the holiday season in a solid financial position. We continue to judiciously deploy this capital to build out our spider silk production capacity. Our focus now is on increasing that production, including further strengthening our production infrastructure. An important part of that program is the planned rollout of new hybrids. Our target remains metric ton production,” said CEO Kim Thompson.

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to http://www.KraigLabs.com/news.

Texprocess 2026: Automation, digitalisation and AI redefine textile processing

Making investment decisions in textile processing has become significantly more demanding. Increasing energy costs, a shortage of skilled labour and ongoing geopolitical uncertainties are compelling companies to focus on technologies that deliver clear gains in efficiency and process reliability. This applies equally to apparel manufacturing and to the processing of technical textiles and high-performance materials. As a result, modernisation initiatives are assessed more carefully – even as the need to upgrade production systems continues to intensify.

Techtextil 2026: Between innovation pressure & market reality

From 21 to 24 April 2026, Techtextil in Frankfurt am Main will once again become the central meeting point for the international technical textiles and nonwovens industry. Running in parallel, Texprocess will focus on the industrial implementation of textile processing technologies as the leading platform in this field. Together, the two trade fairs form a closely integrated presentation and working platform along the entire textile value chain – from material development to finished applications.

Between geopolitical pressure and industrial resilience

In this interview, Dr. Janpeter Horn (VDMA) discusses the current challenges facing textile machinery manufacturers, shaped by geopolitical tensions, regulatory developments and subdued investment. He also outlines why innovation strength, integrated solutions and strategic positioning remain key to global competitiveness.

New U.S. cotton study uses real-world grower data to reveal where fiber impacts occur

Cotton Incorporated has released a critically reviewed life cycle assessment (LCA) of U.S. cotton fiber production that examines how cotton’s environmental impacts are measured and where meaningful improvements can be made across the value chain. The new data, grounded in real‑world grower inputs, measures what drives U.S. cotton’s environmental footprint from field to gin.

China projected to increase cotton production, yields, and imports in 2026/27

World cotton production in the 2026/27 season is projected at 25.9 million tonnes, exceeding global consumption of 25.2 million tonnes, according to the May 2026 issue of Cotton This Month. That means both production and consumption are expected to remain close to current season levels, while global cotton trade is projected to decline by 2.7% to approximately 9.6-9.7 million tonnes.

ECCO introduces first shoe featuring innovative protein-based fibre

ECCO, in partnership with Spinnova, announces the launch of the limited edition ECCO BIOM® 720, a first-of-its-kind shoe utilising an often overlooked leather by-product, transformed into a protein-based fibre. The fibres are produced using patented technology that advances material innovation while reducing waste and supporting full resource use across the leather and textile industry.

Itema to showcase weaving excellence at ITM 2026

From June 9 to 13, Itema will exhibit at ITM 2026 in Istanbul (Hall 8 – Stand 806D), unveiling a distinctive exhibition concept designed to highlight the Company’s expertise across the entire weaving value chain. For this year’s edition, Itema will introduce an innovative stand experience built around two core areas: advanced weaving and spare parts solutions and an immersive textile gallery featuring fabrics produced by Itema Customers worldwide.

Last chance to apply: ITMA 2027 Start-Up Valley closes tomorrow

Applications for the Start-Up Valley at ITMA 2027 close tomorrow, offering young technology companies the opportunity to follow in the footsteps of several successful participants from the 2023 edition. The initiative, organised under the CEMATEX Start-Up Grant programme, has already helped a number of textile start-ups accelerate their transition from early-stage concepts to industrial partnerships, funding rounds and commercial deployment.