Atlanta, GA 5/31/12 (StreetBeat) -- Scio Diamond Technology Corporation (OTCBB:SCIO) announced today that the first production runs of cultured diamond initiated in May were a success. The company has scheduled 10 reactors to be in full production during its fiscal second quarter with 7 reactors having passed their initial 50-hour testing and starting the second phase of testing today.
Joe Lancia, Scio Diamond's CEO said, "Our concentration in the first weeks of mass production will be on diamond seeds. Our process is largely self-sustaining so creating and harvesting our own seed stock is a key ongoing cost reduction driver."
In parallel with creating seed stock, Scio will be providing specified samples for testing by a number of customers in the industrial / commercial marketplace, as well as specific sizes, colors and grades of diamond for the gemstone market. "The demand for diamond continues to amaze me," says Lancia, "We are contacted nearly every day about our product with questions about when we will be ready to start shipping."
As the first 7 reactors enter their second phase of production testing, the last 3 are being fitted with our latest power and program technology. Their startup includes the same of multiple levels of precise testing of functionality in short, mid-range and long runs that we used for the initial 7. Scio remains on schedule to meet its stated milestones to initiate and build production during its fiscal first quarter ending June 30 and to phase into full production during the following quarter ending September 30.
About SCIO Diamond
Scio Diamond will employ a patent-protected chemical vapor deposition process to produce high-quality, single-crystal diamonds in a controlled laboratory setting, with such diamonds referred to as "lab-grown" or cultivated diamonds. The diamonds are intended to have the identical chemical, physical and optical properties as diamonds found in the earth, and the company's highly controlled manufacturing process will enable it to produce very high-quality, high-purity, high volume, single-crystal colorless, near colorless and fancy colored diamonds.
Scio's technology will permit it to produce lab-grown diamond in size, color, and quality combinations that are very rare in nature. SCIO intends to offer diamonds in limited quantities as jewelry and in the technology arena as the material operating system of the future.
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