American Joint Venture Wish to Mass Produce Diamond in China

On September 20, Scio Diamond technology co., LTD, located in the south Carolina of the United States, release that it will sign a joint venture agreement with China to mass produce Diamond in China.

It is said that the joint venture will unite two partners and integrate 75 years’ experience of diamond industry for investment.Because of agreement confidential, Michael McMahon, the CEO of Scio, doesn’t reveal two partner's name at the conference. News spokesman of Scio also said that the invested diamond production equipments will yield an annual output of more than 48000 carats, but detailed parameters like the diamonds’ color and size havn’t been released.

The joint venture plant will settle down in China, bringing more than 100 diamond growth reactors designed by Scio independently, which can be used to produce lla type and single crystal CVD diamond. It is planed the whole equipments’ number will grow to 400 units in the next two years and put into use next year. In the joint venture agreement, Scio provides CVD diamond growth technology through a licensing agreement (patent rights transfer agreement), so to obtain an equal enterprise status and the corresponding patent licensing revenues in China.

The partner will invest for the joint venture, but the conference does not give  instructions to the details of distribution and sales. At the conference McMahon appraised: "This is an important moment for Scio, and it witnesses company’s abilities to mass produce lab-grown diamonds”.