Scio and Renaissance Diamonds Launch Fancy Color Diamond Joint Venture
October 28, 14
Scio Diamond Techology
(IDEX Online News) – Lab-grown diamond companies Scio Diamond Technology Corporation and Renaissance Diamonds Inc. have signed a memo of understanding for a joint venture to develop and deliver high-quality, lab-grown, fancy-colored diamonds to the gem stone and jewelry market.
South Carolina-based Scio uses CVD (chemical vapor deposition) technology to produce near colorless and fancy-color stones. Renaissance Diamonds, which is headquartered in Florida, utilizes CVD and HPHT (high pressure, high temperature) technologies to create colorless, pink, canary yellow and blue diamonds.
Renaissance has developed an in-store distribution program that will launch in the first quarter of 2015 at a prominent, but as of yet unnamed, retailer.
“Together, this gives us the opportunity to create a new, profitable segment for the retail jewelry market," said Neil Koppel, president and CEO of Renaissance Diamonds Corporation.