BNRG - 24/7 Market News Pennies in Play

2024-05-17 10:14:34 ET

DENVER, Colo., May 17, 2024 ( 247marketnews.com )- Kraig Biocraft Laboratories (OTCQB: KBLB ), Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE ), Akanda Corp. (NASDAQ: AKAN ), Crown Electrokinetics Corp. (NASDAQ: CRKN ), and Brenmiller Energy Ltd. (Nasdaq: BNRG )

Kraig Biocraft Laboratories (OTCQB: KBLB ) concluded its spring production trials of its new BAM-1 hybrid spider silk strains, which exceeded all expectations for scale, performance and robustness, all the more important.

The spring production trials were an unabashed success, proving that the BAM-1 recombinant spider silk hybrids are ready for rapid production expansion, following what was seen to be the most fruitful and successful production cycle in the Company’s history, performed under the guidance of renowned sericulture expert, Dr. Nirmal Kumar.

The parental lines from this careful breeding program were designed to deliver larger cocoons with improved reeling characteristics and higher yields.

“I am proud of the work accomplished and very impressed by the performance of the BAM-1 silkworm lines,” Dr. Nirmal Kumar, stated. “The luster of the BAM-1 silk is very unique and desirable. When paired with its strength, we have created a silk that can’t be matched. The results of these trials exceeded our expectations. We are now on a solid foundation to scale production of the BAM-1 hybrid to metric ton levels.”

“The BAM-1 parental lines have proven to be the strongest and most resilient we have ever fielded,” said Company founder and CEO, Kim Thompson. “This production run greatly exceeded our targets and has prepared us for the next phase of our business plan. With these production trials successfully concluded, we are now aggressively implementing the next phase of our business plan, which will expand our operations and target multiple production locations in multiple countries.”

Thompson and Dr. Nirmal Kumar have spent the last two months directly overseeing these trials, selecting facilities for expansion, reviewing operational protocols, and meeting with officials and business leaders regarding the Company’s immediate plans. Thompson is now returning to the U.S. to enact the next stages of its spider silk production expansion plan and complete the Company’s transition from a technology developer to a large-scale spider silk manufacturer.

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE ) has been squeezing this week and eclipsed the $1 billion trading volume mark yesterday, and looks on pace to exceed yesterday’s level. Additionally, the California-based global shared intelligent electric mobility ecosystem company is trading at new 2024 highs.

Akanda Corp. (NASDAQ: AKAN ) received a deficiency notification letter from the Nasdaq on May 14, 2024, due to non-compliance with Nasdaq’s minimum stockholders’ equity requirement listing rule 5550(b)(1), which states that companies must maintain a minimum stockholder equity of $2,500,000.

Akanda has until June 28, 2024, or 45 calendar days, to submit a plan to regain compliance. If accepted, Nasdaq may grant Akanda an extension of up to 180 days from the date of the notification letter to evidence compliance.

Akanda’s Interim Chief Executive Officer, Katie Field, stated, “We are taking immediate steps to address this matter and are focused on actions that will lead to regaining compliance with Nasdaq’s listing requirements. We appreciate the continued support of our investors during this period.”

Crown Electrokinetics Corp. (NASDAQ: CRKN ) has been squeezing since the mart glass technology company hosted its first quarter 2024 conference call on Wednesday. Crown Electrokinetics is comprised of Fiber Optics and Electrokinetics Film divisions, and is trading a new 2024 highs.

Brenmiller Energy Ltd. (Nasdaq: BNRG ) reported growing its project pipeline to 49 potential contracts, in 12 industries, that are in various stages of development for its bGen ZERO TES systems valued at over $500 million and representing more than 6,000 MWh of zero-emission heat.

Avi Brenmiller, Brenmiller’s Chairman and CEO, commented, “The nearly fifty active project proposals, offers and negotiations our team has going with some of the largest and most innovative industrials and energy companies is great for business, but it’s even better for the planet: It reflects both our customers’ confidence in our ability to deliver and shifting attitudes toward decarbonization market-wide.

“Several of these projects are in advanced stages of negotiations and we anticipate that two to four of them may advance into binding, revenue-generating contracts in the coming quarters.”

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