Adamas One Corp. (NASDAQ:JEWL) has announced the formation of its new wholly owned subsidiary, Adamas Technologies, which will be responsible for research & development, partnerships, and deployment of lab-grown diamond-based solutions for the technology industry.
The lab-grown diamond manufacturer said lab-grown diamonds' thermal conductivity and durability make them ideal for use in semiconductor devices in the industrial and technology sectors, with properties that are expected to increase efficiency and speed of leading-edge circuitry.
"The formation of Adamas Technologies follows our recently announced plans to increase our presence in the semiconductor sector," Adamas One CEO Jay Grdina said in a statement.
"Lab-Grown Diamonds offer the repeatability, consistency, and reliability that both industry and technology applications demand at a cost that will support market acceptance," he added.
Adamas One noted that its chief operating Gerald McGuire will lead the newly formed subsidiary.
It added that McGuire has nearly 30 years of extensive experience in the semiconductor market bringing innovative ICs and analog circuits to market.
Adamas One is a lab-grown diamond manufacturer that produces near-flawless single-crystal diamonds for gemstone and industrial applications at its facilities in Greenville, South Carolina. The company holds 36 patents and uses its proprietary chemical vapor deposition to grow gem-sized and smaller diamond crystals.
Contact Sean at sean@proactiveinvestors.com