Scio Diamond Technology Corporation is nearing completion of a manufacturing expansion that will more than double its capacity to create lab-grown diamonds.
Plans to double production levels at Scio's current set-up in Greenville, South Carolina began when the company closed a $2.5 million in growth funding from Heritage Gemstone Investors (HGI) in December 2014.
The expansion, which will be completed in May, involves refitting current diamond-growing reactors with larger growing platforms and adding new reactors.
"We had already committed our production levels to existing customers, while demand for our lab-grown diamonds was growing quickly," said Gerald McGuire, Scio's CEO. "This expansion will let us produce more than twice the amount of diamonds we were producing just three months ago."
Scio Diamond produces single-crystal, type IIa lab-grown diamonds for jewelry and industrial applications.
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