Announces launch of ‘Cultured in Singapore’ brand initiative for its origin-guaranteed diamonds
Singapore, 17 March 2015 – Singapore-based IIa Technologies, the world leader in Grown Diamond technology, today announced the launch of the world’s largest diamond greenhouse, a 200,000 square foot, state-of-art facility that has successfully conceptualised and developed a revolutionary, commercially-viable diamond growing process for colourless, high quality, Type IIa diamonds.
IIa Technologies has also launched a Centre of Excellence (CoE) which is a first-of-its-kind diamond research centre that will contribute all the scientific know-how to different teams within IIa Technologies. The CoE aims to further develop existing diamond growing technologies and offer high quality Grown Diamonds for various hi-technology industries and applications, beyond the luxury sector. It will also continue research on the Microwave Chemical Vapour Deposition (MPCVD) method of growing diamonds so as to establish next-generation applications for Grown Diamonds that will have far-reaching implications in the semiconductor, healthcare and engineering sectors.
The world’s largest diamond greenhouse developed by IIa Technologies, was inaugurated by Mr Tharman Shanmugaratnam, Singapore Deputy Prime Minister and Minister of Finance and was attended by representatives from the Economic Development Board (EDB) this morning.
Speaking at the opening, Vishal Mehta, CEO, IIa Technologies said, “We are extremely proud to have created the world’s largest diamond greenhouse right here in Singapore, the innovation hub of Asia. Today, IIa Technologies is the only diamond greenhouse in the world that can grow high quality Type IIa diamonds, which are considered the purest and rarest types of diamonds.”
Mr. Lim Kok Kiang, Assistant Managing Director of the Singapore Economic Development Board added, “IIa Technologies’ investments in Singapore opens new opportunities for research into the use of diamonds for high tech applications, such as high-precision cutting tools, quantum computing data storage, optical imaging and radiation detection. This will enhance the competitiveness of Singapore’s R&D ecosystem and manufacturing capabilities, particularly for the Precision Engineering, Medical Instruments, Optical Equipment, Electronics and Semiconductor industries.”
Cultured in Singapore
Additionally, to coincide with Singapore’s jubilee celebrations this year, IIa Technologies has also launched “Cultured in Singapore,” a new brand initiative that underlines the technological advancement in diamonds that the company has achieved in Singapore. The new “Cultured in Singapore” brand mark identifies the origin of IIa Diamonds and endorses that these diamonds were 100% cultured in Singapore, a country known for its innovation and high levels of sustainability. The brand initiative is also aimed to proudly position Singapore as a Grown Diamond resource for the world.
“IIa Grown Diamonds are the first-ever sustainable, conflict-free, origin-guaranteed, high quality diamonds that were conceptualised and cultured in Singapore. Creating a diamond resource within Singapore truly showcases what the country stands for – progressive technology, innovation and business resilience,” added Vishal Mehta.
A new diamond choice for consumers
Diamonds continue to see high demand throughout the world. However, the Mined Diamond supply has seen a constant decline in the past decade driven by the fact that key diamond mines have passed their peak production levels. The global Mined Diamond supply is estimated to drop to 13 million carats in 2050 from the projected 133 million carats in 2014 considering a base case scenario. This occurs in light of the rising demand from various markets such as the US, India and China which is likely to widen the demand and supply gap.
Industry reports suggest that over the next 30 years, Grown Diamonds will become a dominant player in high technology applications and very significant diamond source for the luxury world. Grown diamonds are also predicted to provide a good hedge for diversification of use in an industry that has, so far, heavily relied on a single product – gem quality diamonds.
New York-based Pure Grown Diamonds, the world’s largest retailer-distributor of IIa Grown Diamonds and part of IIa Holdings Group. Lisa Bissell, CEO, Pure Grown Diamonds, said, “IIa Grown Diamonds come at a time where consumers are looking for more options. In addition to being conflict-free, these diamonds come at a cost that is 30-40% less. The diamonds are identical to their mined counterparts with the only difference being their point of origin.”
About IIa Technologies
Established in 2005, Singapore headquartered IIa Technologies Pte Ltd is the industry leader in Grown Diamond technology. Through years of cutting-edge research, the company has created commercially viable and sustainable processes to grow the purest form of colourless diamonds classified as Type IIa. Devoid of chemical impurities, Grown Diamonds by IIa Technologies has applications in the mechanical, manufacturing and aerospace industries as well as in the gems and jewellery industry. IIa Technologies is a part of IIa Holdings Group, which also owns NY-based retailer-distributor, Pure Grown Diamonds. For more information: http://2atechnologies.com/
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