GREENVILLE, S.C.--(BUSINESS WIRE)--Scio Diamond Technology Corporation (OTCBB: SCIO) said today that its lab-grown pink diamonds, certified by the International Gemological Institute (IGI), are now available as finished gemstones.
Scio Diamond produces lab-grown rough diamonds in the three to five carat size and Renaissance Diamonds Inc. processes, cuts and polishes the jewels. The two companies then sell the finished diamonds, in sizes from half-a-carat to two carat and larger, to retailers through a joint venture, Renaissance Created Diamonds.
Scio Diamond gems are being tested in a national marketing program through Helzberg Diamonds, the fourth largest jewelry retailer in the US.
“We want to provide consumers with a choice in selecting diamonds that satisfy their preferences and needs,” explained Gerald McGuire, CEO, Scio Diamond. “Our highly controlled laboratory setting produces brilliant gems for fine jewelry, so lab-grown diamonds are a new option for today’s savvy shopper.”
“Our superior cutting, polishing and finishing turns Scio Diamond’s high-purity lab-grown rough diamonds into rare and beautiful gems for jewelry,” noted Neil Koppel, president and CEO, Renaissance Diamonds, Inc. “The scarcity and exorbitant cost of mined fancy color diamonds have placed them out of reach for many consumers. Now they can own the diamond of their dreams at a fraction of the cost.”
Scio Diamond has been a technology pioneer in lab-grown diamonds, with its patented chemical vapor deposition (CVD) process. Lab-grown diamonds and mined diamonds are chemically, physically and optically identical. The only difference is that lab-grown diamonds are created in weeks in a precisely controlled laboratory environment and mined diamonds grew beneath the earth over a period of time that has been estimated by scientists at between one and three billion years.
About Scio Diamond
Scio Diamond creates high-quality, Type IIa single-crystal diamonds in a controlled laboratory setting. The company produces colorless, near colorless and fancy color lab-grown diamonds in size, color and quality combinations that are rare in earth-mined diamonds. Scio Diamond delivers gems for jewelry and diamond materials for advanced industrial applications. www.ScioDiamond.com
About Renaissance Diamonds
Renaissance manufactures, develops and markets lab-grown diamonds and gems. It began in 1994 as one of the first manufacturers to acquire rough lab-grown diamonds. Today, Renaissance produces and sells finely crafted colorless, pink, canary yellow and blue lab-grown diamonds through wholesalers, national retailers and more than 500 independent retailers, plus online at www.RenaissanceDiamonds.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Scio to be materially different from those expressed or implied. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words “may,” “will,” “should,” “could,” “would,” “forecast,” “potential,” “continue,” “contemplate,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially as a result of various factors. Except as required by applicable laws, the Company has no obligation to update publicly any forward-looking statements for any reason.