RapNet


Rapaport News

 

Technology

 
Rapaport Broadcast
Martin Rapaport Addresses Israel Diamond Week
February 12 2020

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Scio Raises $1.6M to Fund Synthetic Diamond Development

Sep 10, 2015 2:14 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Synthetic diamond producer Scio Diamond Technology Corp., raised $1.6 million in equity financing to fund further product development and operations, according to a company announcement.

"We see increasing demand in the market for lab-grown white diamonds," noted Gerald McGuire, chief executive officer. "We successfully completed product development on lab-grown pink diamonds and have been delivering them to the market since June. Our white diamonds are also being sold in the market; we are focused on these because they will increase our revenue potential in the fast-growing, high-quality lab-grown diamond segment."

Bain & Company's 2014 report on the global diamond industry noted that "diamond demand is expected to outpace future supply." Lab-grown diamonds are a growing portion of the worldwide jewelry market, which is expected to increase by 50% per year through 2018, according to analysts Frost & Sullivan.

Earlier this year, the company doubled its manufacturing capacity, which can be used for either pink or white diamond production, the company said.

Tags: lab-grown, Rapaport News, Synthetics
Similar Articles
Benny LandaTech Pioneer Sees Future for Synthetics in Israel
Jan 02, 2020
Israel has an opportunity to forge a new specialism in diamond synthesis as its...
Alrosa Collaborates on WeChat Blockchain
Can Nanotechnology Save the Diamond Trade?



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us