Scio Diamond

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Facts about Scio Diamond


Quick facts

Company Headquarters

Scio Diamond Technology Corporation
411 University Ridge, Suite D
Greenville, SC 29601

Stock Information

Exchange: OTCBB
Symbol: SCIO
Public as of September 30, 2011

Sales

$1,418,341 (March 31, 2014)

Products/Markets

Commercial production of lab-grown diamonds for fine jewelry and industrial applications

  • Colorless Diamonds
  • Fancy color yellow diamonds
  • Fancy color pink diamonds
  • Custom diamond products for industrial applications

Leadership

Gerald McGuire, President and CEO
Jonathan Pfohl, CFO

Board of Directors

Karl Leaverton
Bruce Likly, Vice Chairman
Gerald McGuire
Bern McPheely, Chairman
Lewis Smoak
Ben Wolkowitz

Scio Diamond FAQ

  • Why are diamonds so valuable?
  • What is the difference between lab-grown diamonds and mined diamonds?
  • What is the price difference between lab-grown diamonds and mined diamonds?
  • Which diamonds are more in demand … fancy pinks, yellows, colorless, others?
  • What value, besides price, do lab-grown diamonds offer buyers?
  • What markets does Scio Diamond serve?
  • Are Scio Diamond’s stones “real”?
  • Are Scio Diamond’s stones certified?
  • Are your stones inscribed?
  • What types of gems does Scio Diamond produce?
  • How are your stones finished for the jewelry market?
  • Can I buy diamonds directly from Scio Diamond?
  • What is the process you use to produce diamonds?
  • What distinguishes Scio Diamond’s technology from others?
  • What training and skills do your employees need?

1

Why are diamonds so valuable?

Diamonds have been valued on a perception of rarity because of their source and quality. Mining stones that have grown in the earth for centuries is expensive. Type IIa diamonds, the highest quality, are a very small fraction of the total number of mined diamonds, less than two percent. Therefore, the market highly values these diamonds.

Diamonds have been valued on a perception of rarity because of their source and quality. Mining stones that have grown in the earth for centuries is expensive. Type IIa diamonds, the highest quality, are a very small fraction of the total number of mined diamonds, less than two percent. Therefore, the market highly values these diamonds.With a dwindling supply of diamonds in the earth, mining companies have to spend more on new technologies and processes that allow them to conduct deeper operations to reach the remaining stones.

The process to create diamonds is also technically challenging. It requires superior equipment, a highly controlled growing environment, and a high caliber of trained individuals with a great deal of skill and expertise. However, when compared with the cost of mining, producing diamonds can provide greater value.

Lab-grown diamonds are chemically, physically and optically identical to mined diamonds. The only difference is that some are grown in a lab above the ground and some are mined out of the earth.These are not synthetic or artificial diamonds, which are stones that may resemble diamonds, but aren’t real. Our diamonds are not cubic zirconia or crystals or any of the other pretenders. Our diamonds are pure carbon, the same as mined diamonds.

Our patented chemical vapor deposition (CVD) production process delivers high-quality, single-crystal diamonds that are suitable for gems and industrial applications. And, our process allows us to grow diamonds with color and size combinations that are extremely rare in nature.

Mined colorless diamonds usually sell for 25 to 30% more than lab-grown stones.The limited supply (only one mine in the world) and difficulty of obtaining fancy pink diamonds has driven up the price of mined pink stones, which can cost anywhere from $100,000 to $1 million per carat. Lab-grown fancy color pinks can be produced at a much lower cost.

In the traditional diamond market, 95% of the demand is for colorless diamonds for fine jewelry.In addition to producing Type IIa colorless diamonds, Scio Diamond also creates high quality lab-grown fancy color pink diamonds that are priced reasonably and within reach of customers who favor pinks.

The Gemological Institute of America (GIA), one of the leading diamond grading agencies, published findings from an analysis of 19 pink diamond gemstones grown using our CVD technology. The GIA said that these fancy color pink diamonds were “comparable to top quality natural pink diamonds” and “offer a potential new source of attractive gem quality material in the marketplace”.

Lab-grown diamonds are a sustainable resource, unlike mined diamonds which are diminishing in supply. Lab-grown diamonds offer a conflict-free and environmentally friendly alternative to mined diamonds.We can produce multiple identical stones to meet a company’s precise specifications, with exactly the same characteristics and tolerances required time after time. Mined gems don’t offer this benefit, because each one may be slightly different.

This consistency is also important in fine jewelry where multiple, identical stones are needed for a single piece or coordinating pieces.

In both markets, Scio Diamond can offer gems at a lower price point than comparable mined diamonds.

Scio Diamond creates high quality, single-crystal, Type IIa lab grown diamonds for the jewelry market and various industrial applications. Some of these industrial applications include ultra-precision machine tools for turning, milling and cutting; scalpel blades and optical transmission windows and lenses.
All diamonds produced by Scio Diamond are real diamonds and are chemically, physically and optically identical to mined diamonds. The only difference is that some are grown in a lab above the ground and some are mined out of the earth.
The diamond gemstones made by Scio Diamond and used in fine jewelry are certified by the International Gemological Institute (IGI). Scio Diamond will obtain certification from either the IGI or the Gemological Institute of America (GIA) for customers who have a preference. Both groups are highly respected gem grading organizations.
Scio Diamond’s gems, sold through our joint venture, are laser-inscribed with a unique identifying number.

Scio Diamond produces a large selection of colorless and popular fancy gem colors in pink and yellow. Colorless diamonds are used for jewelry and industrial applications such as optical windows, laser scalpels and electronics. Pink and yellow diamonds are typically used for jewelry. Brown and yellow diamonds are used in many precision milling and grinding industrial applications.The company typically makes rough diamonds in the 3-5 carat size. These are finished into 1-2 carat gems and polished for jewelry or sliced and shaped for industrial applications.

In December of 2014, Scio Diamond entered into a joint venture with Renaissance Diamonds. This joint venture supplies colorless and fancy color finished gems to the jewelry market. The Scio Diamond rough stones are cut and polished, just as mined diamonds, then they are certified and delivered through the joint venture, Renaissance Created Diamonds.

For companies that use diamonds for industrial applications, we work directly with them to create stones that meet their unique and precise requirements. From their initial specifications and drawings, we collaborate with them to design the diamond-based materials that meet their precise requirements, then we develop a prototype and produce the quantities required.In the jewelry market, Scio Diamond is a wholesale supplier, selling its stones through its joint venture Renaissance Created Diamonds. Through Renaissance Created Diamonds, Scio Diamond supplies gems to retailers who sell online and through their own jewelry stores across the country. The company is currently delivering high quality fancy color pink diamonds to a large national jewelry chain for the chain’s lab-grown pink diamond program.

Scio Diamond uses our proprietary chemical vapor deposition (CVD) process in a precisely controlled lab environment to grow single-crystal diamonds. We have perfected the ability to very rigorously and accurately control the environment and the chemistry necessary to create high-quality single-crystal diamonds and produce them in color and size combinations that are rare in nature. For example, our CVD process allows us to produce stunning fancy color pink diamonds that are prized for fine jewelry.

Scio Diamond was a pioneer in developing chemical vapor deposition (CVD) technology. The company holds 36 US and international patents, providing broad intellectual property protections for our manufacturing processes and substantial future opportunities for the utilization of diamond for semiconductors, light emitting diodes and laser applications.The CVD process is quite good at producing high quality gems with consistency. Other diamond manufacturing processes have not had the same success.

Manufacturing lab-grown diamonds requires a specialized labor force … engineers, scientists and highly skilled and trained manufacturing personnel to operate and maintain the growing environment.After Scio Diamond produces the stones, specially trained diamond cutters and polishers, with a great deal of experience and knowledge of the process and tools used for finishing gems, cut and polish the stones into the gems used in fine jewelry. For industrial applications, the stones are sliced and shaped for business customers.

Scio Diamond history

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