Abstract On September 20th, Scio Diamond of South Carolina, USA, announced that it will sign a joint venture agreement with China and produce diamonds in large-scale laboratory production in China. According to related people
On September 20th, Scio Diamond of South Carolina, USA, announced that it will sign a joint venture agreement with China and produce diamonds in large-scale production laboratories in China. According to relevant sources, the joint venture agreement will be combined with the two major partners to integrate the experience of the diamond industry for 75 years. Limited by the confidentiality of the agreement, Mr. Michael McMahon, CEO of Scio, did not announce the names of the two partners at the press conference.
Scio's spokesperson said that the annual production of diamond production equipment is expected to reach 48,000 carats, while the detailed parameters such as the color and size of the diamond have not been announced.
The joint venture's plant and equipment will be located in China, including more than 100 Scio's self-designed diamond growth reactors, which are capable of producing 11a diamond and single crystal CVD diamond. The equipment is expected to expand to 400 diamond growth reactors in the next two years and is scheduled to be put into use next year.
In the joint venture agreement, Scio provides CVD diamond growth technology in China through a licensing agreement (Patent Use Rights Transfer Agreement) to obtain equal corporate status and corresponding patent license revenue in China. The partner will invest in the joint venture; as for the details of the distribution and sales, the conference did not give a explanation.
McMahon commented at the press conference: "This is an important moment for Scio, which has witnessed the company's ability to produce diamonds in high-volume production laboratories." (Compiled from "Venture Plans to Mass-Produce Diamonds in China")
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