In Michigan, Kraig Biocraft Laboratories is preparing for commercialization of its engineered spider silk. By designing a high-performance fiber, Kraig Biocraft’s objective is to target a broad cross section of applications in the $160 billion (projected) technical fibers market and the budding smart textile markets. According to their press release, the Company intends to also target the mundane markets, like active wear and the $5 billion raw silk fibers market, which have tighter pricing elasticity.
“As Kraig Labs prepares to transition into commercial production, we plan to expand our R&D focus and, given the tremendous interest in spider silk, we believe that we will have many great opportunities to grow newly discovered application into new business lines with strong growth potential. As we initiate a process to explore further scientific alliances our objective is to help maximize the future value of Kraig Labs,” said Kim Thompson, Kraig Labs’ CEO and Founder in their press release.