SCOTTSDALE, Ariz., Nov. 10, 2023/PRNewswire/ -- Adamas One Corp. (Nasdaq: JEWL) ("Adamas One," "Adamas" or "the Company"), The Original Lab-Grown Diamond Company™, a high-tech company that leverages patented technology to produce high-quality monocrystalline laboratory diamonds for jewelry and diamond materials for technology and other industrial uses, today announced the creation of its new subsidiary, Adamas Technologies.
Adamas Technologies will be responsible for the research and development, partnerships and implementation of solutions based on lab-grown diamonds for the technology industry. The thermal conductivity and durability of lab-grown diamonds make them ideal for use in semiconductor devices in the industrial and technology sectors. Adamas' patented technology offers an important opportunity to respond to the growing demand in the semiconductor industry.
"The creation of Adamas Technologies follows our recently announced plans to increase our presence in the semiconductor sector. We want to ensure that Adamas One is always at the forefront of the utilization of lab-grown diamond across all industries. We believe that our Proprietary and patented technologies provide us with a strong competitive advantage within the category, especially when it comes to adapting lab-grown diamonds in the technology sector. It is clear that the extraordinary properties of diamond materials offer solutions to some very difficult industrial problems," said Jay Grdina, CEO of Adamas One Corp. "Laboratory-grown diamonds offer the repeatability, consistency and reliability that both industry and technological applications demand, at a cost that will facilitate their acceptance in the market ".
Gerald McGuire, chief operating officer of Adamas One Corp, will lead the new subsidiary. McGuire has almost 30 years of extensive experience in the semiconductor market, bringing innovative integrated and analog circuits to the market.
"We are especially excited about the opportunities in the semiconductor markets. The thermal and other properties of diamond are widely used to increase the efficiency and speed of cutting-edge circuits. Laboratory-grown diamonds have recently reached high cost levels. ", quality and manufacturing that enable their use in these applications. Adamas materials offer precise chemistry and manufacturing capacity in single crystal diamond using our proprietary processes and recipes," said Gerald McGuire. "The use of lab-grown diamond is new to these semiconductor applications, and I look forward to our team's contributions as this market emerges," McGuire added.
"The extraordinary physical properties of diamond have been known for some time. Innovations enabling thermal conductivity, carrier mobility, and diamond bandgap have only just begun," McGuire concluded.
About Adamas One Corp.
Adamas is a laboratory-grown diamond manufacturer that produces near-perfect single-crystal diamonds for gemstone and industrial applications, at its facility in Greenville, South Carolina. The company holds 36 patents and uses its proprietary chemical vapor deposition (CVD) technology to grow gem-sized and smaller diamond crystals. Adamas One™ lab-grown diamonds have the same physical, chemical and optical properties as mined diamonds. The company's controlled manufacturing processes enable it to produce colorless, near-colorless and type IIA fancy colored diamonds of very high quality and high purity for a wide variety of gemstone and industrial applications. The company intends to market and sell its diamonds in the wholesale jewelry and industrial markets. For more information, visit the website www.adamasone.com.
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Forward-Looking StatementsThis press release may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 ( Securities Exchange Act of 1934), as amended. To the extent the information presented in this press release discusses financial projections, information or expectations about our business plans, results of operations, products or markets, or makes statements regarding future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as "should," "may," "intend," "anticipate," "believe," "estimate," "project," "forecast," "expect," "plan." and "proposes." Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. We encourage you to carefully review and consider any warnings or other information, including statements made under the heading "Risk Factors" and elsewhere in the documents we file from time to time with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of the document in which they are contained, and Adamas One Corp. undertakes no obligation to update any forward-looking statement, except as required by law. References and links to websites have been provided for convenience, and the information contained in such websites is not incorporated by reference into this press release.
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