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Tuesday, October 18, 2011

Scio Diamond Technology: a New Manufacturer of Man Made Diamonds

Just recently Apollo Diamonds, a leader in producing high-quality laboratory grown diamonds, have sold the assets to Scio Diamond Technology, yet a new name in the field of diamond market. However, if everything goes smoothly according to company's strategy, next summer will be a season of colorless and pink gems.

Before Apollo Diamonds was known for they flawless colorless diamonds and single crystal diamond wafers, which are widely used in optoelectronics and nanotechnology used for industrial needs. Nevertheless, Apollo diamond gems are also perfect to be set in a wedding ring as they are colorless, traditionally a number one choice for a wedding ring. A new owner claims that they are going to keep producing gems for a jewelry market as before, but probably in lesser amount. According to Joseph Lancia, CEO of the company, these are not gemstones that are in the center of their attention as they are not game-changer as opposite to technology side.

A new company is going to be out of marketing perspective. As you know Apollo Diamonds was offering their gems over the internet, so that you could buy it regardless of the place location you are. Currently Scio stake on the technology rather then marketing, meaning that they will work only with major distributors without dispersing their attention to minor clients.

Another novelty the company is going to introduce is a laser inscription on the stones, like that in Gemesis. Now you will find it easier to identify the story and see if it matches the GIA report.

Robert Linares, the founder of Apollo Diamonds, will still be working for the company. It is know he was paid $1 million cash for growing machines and other property and is expecting to get another million till next September.

So a former leader in manufacturing colorless diamonds is leaving the arena giving way for other giants. One the one hand, it may case some problems for lovers of eco-friendly white diamonds, but on the other it may give a nice push to other diamond growing companies to create still popular colorless gems.

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