In order to expand the Manchester market, a diamond-growing company has brought its proven CVD diamond growth process to the UK. The company, which has decades of experience in crystal growth, has built factories capable of large-scale production, and has a global supply chain for advanced materials. Global Power Partners has served as exclusive financial advisor for the company’s Series A equity financing. Ultimately, the company’s mission is to produce high-quality diamonds and other advanced materials at affordable prices.
While diamonds naturally form 150 miles beneath the Earth’s surface, synthetic diamonds are grown in laboratories. Scientists use processes like CVD and HPHT to grow the diamond crystals. These processes are more advanced than diamond mining. Scientists use special tools and chemicals to increase the amount of carbon in the crystal. After three weeks of development, synthetic diamonds are ready for sale. They cost ten times less than natural diamonds and are much more durable.
Natural diamonds are grown by intense heat and pressure over millions of years, while lab-grown diamonds are grown in a matter of weeks. The lab grown diamonds Manchester synthetic diamond begins as a tiny diamond seed, which is coated with a special substance that creates a controlled environment. This coating eventually transforms the seed into a diamond crystal. The two processes are chemically identical, but the synthetic diamond is grown in a laboratory.
Process as mined diamonds
While lab-grown diamonds are not yet on par with mined diamonds, GIA is deciding to start grading them. It will make it easier for consumers to compare the two types of diamonds and ensure consistency among them. This is especially important in a time when the presence of lab-grown diamonds continues to increase. GIA is a recognized gemological institute and has a high standard for both mined and lab-grown diamonds.
Prices of mined diamonds have a market-wide industry standard based on the color, clarity, and carat weight. The prices are regulated by the Rapaport List, an international benchmark that updates weekly depending on the market. By comparison, lab-grown diamonds are not subject to an industry-wide standard. Originally, a single carat of lab-grown diamond would cost approximately six hundred thousand dollars whereas an excellent-cut diamond would only cost about $2300.
One of the biggest benefits of Lab Grown Diamonds is their affordability. As far as price goes, a lab created diamond can cost up to 50 percent less than a natural diamond. This is because lab grown diamonds are produced without relying on the same supply chain as natural diamonds. Plus, advancements in technology have made it possible to create diamonds with greater efficiency. That means that they are more affordable than natural diamonds.
A study by Paul Senesky, an industry analyst, showed that the average price of a 1.5 ct. round lab-grown diamond on the internet was $10,300 in the second quarter of 2016. By the end of the same year, however, a similar gem had dropped to $3,975. This is because of competition in the industry, as well as technological advancements. Additionally, growers were able to lower the price of these gems, and the savings were passed on to consumers.
One of the key arguments for purchasing lab-grown diamonds is the environmental benefits. In fact, they use less water per carat than their lab created diamonds Manchester mined counterparts and have lower carbon emissions. Moreover, they do not require the use of toxic chemicals and heavy equipment. In fact, the mining of mined diamonds is environmentally harmful. And because they do not create mercury, they are also not harmful to the environment. The same argument applies to the manufacturing process of lab-grown diamonds.
Mining for diamonds results in the release of over 125 pounds of carbon dioxide per carat, while manufacturing man-made diamonds only produces six pounds. A single carat of mined diamond also produces 30 pounds of Sulphur oxide, whereas a lab-grown diamond releases zero of this gas. Miners disturb about 100 square feet of land for every carat and generate about 5,798 pounds of mineral waste. These practices also make the land useless after the mining activities cease.