Scio Diamond Technology Corporation Establishes HQ, Manufacturing Facility in Greenville, SC
November 1, 2011
Plans Expected to Create at Least 70 New Jobs
GREENVILLE, SC – October 31, 2011 – The South Carolina Department ofCommerce and the Greenville Area Development Corporation today announcedthat Scio Diamond Technology Corporation (OTCBB: SCIO) willestablish its corporate headquarters and manufacturing operations inGreenville County. The undisclosed investment is expected to generate 70new jobs over the next five years.
Scio Diamond employs a patent-protected chemical deposition processto produce high-quality, single-crystal diamonds in a controlledlaboratory setting, with such diamonds referred to as lab-grown orcultivated diamonds. The diamonds have the identical chemical, physicaland optical properties as any diamond found in the earth, and thecompany’s highly controlled manufacturing process enables it to producevery high-quality, high-purity, single-crystal colorless, near colorlessand fancy colored diamonds.
Before deciding to locate here in South Carolina, we consideredseveral locations for our corporate headquarters and manufacturingfacility, said Joseph Lancia, President and CEO of Scio DiamondTechnology Corporation. We are pleased to move forward with plans toestablish our home here in Greenville County. It was right here that wefound the ideal balance of business-friendly climate, access to talent,entrepreneurial drive and exceptional quality of life. We expect thatGreenville County will provide us with the perfect mix of ingredientsfor success.
Scio is in process of upfitting a 9,300-square-foot section of the$10 million NEXT Innovation Center development, at the corner of ChurchStreet and University Ridge, which already houses a variety ofentrepreneurial organizations and technology companies. More than 6,000square feet will be dedicated to a secure manufacturing facility,providing sufficient space for 18-20 diamond growing reactors,supporting equipment, plus laser and polishing operations.
Today’s announcement is another indication that South Carolina is ahighly-competitive location for businesses to set up shop. We celebrateScio’s decision to locate its new operations in Greenville and create 70well-paying jobs, said Gov. Nikki Haley.
The relocation of equipment and operations from its current Boston,Massachusetts home is expected to begin early in first quarter 2012,noted Lancia. Growing reactors will be going through testing andmaintenance until they are shipped to their new Greenville home, andmachines will be hooked up and recalibrated upon arrival. The facilityplans to come fully online and into the growing and production processby second quarter of 2012, he added.
In South Carolina, we are great at making things and manufacturingcontinues to play a crucial role in our state’s economy. Announcementslike this further strengthen our reputation in the manufacturingsector, said Bobby Hitt, Secretary of Commerce.
The facility will focus on maximizing production yield of diamondsfor a variety of uses and applications, according to Scio ChiefOperating Officer Mike McMahon. Our ability to manufacture diamondsthat meet the needs of both the gemstone market and for industry in awide range of verticals is very exciting, McMahon added. From medicalequipment to manufacturing, advanced materials to water purification,the applications for Scio diamonds are perhaps limited only by ourproduction capacity and our imaginations.
Current development projects utilizing Scio’s diamond materialsinclude applications with lasers, in quantum communication andcomputing, in high-voltage power switching, and with water treatment andpurification systems, Lancia noted. The company has even created adiamond laser scalpel for use in surgery.
We’re pleased that Scio Diamonds has chosen to locate theirheadquarters and manufacturing operations in Greenville County, andappreciate the valuable roles played by partners including GreenvilleCounty Council, the City of Greenville, Duke Energy, and the GreenvilleChamber’s NEXT initiative in making this happen, said Chris Riley,chairman of the Greenville Area Development Corporation. Scio Diamond’sdecision is an important affirmation of this region’s focus onattracting, developing and growing technology- and knowledge-basedmanufacturers and businesses of all types.
With NEXT’s focus on building an entrepreneurial ecosystem andinnovation hub by nurturing knowledge-based companies in the Upstate,Scio Diamond appeared on our radar early, noted John Moore, executivevice president of the Greenville Chamber of Commerce and leader of theChamber’s NEXT initiative. From working closely with Scio executivesto encourage consideration of Greenville, to facilitating introductionsto public sector officials and other regional CEOs, this is preciselythe kind of organization we all seek to attract to Greenville.
The state of South Carolina provided the company with job developmentcredits, which will be available when hiring targets are met.
Included among the jobs to be filled by Scio Diamond are growers,materials handlers, chemical engineers, as well as a range of corporateheadquarters positions. Job inquiries may be directed to the companybeginning January 1, 2012 by visiting the company online or emailing [email protected].
About Scio Diamond
(OTCBB: SCIO) SCIO DIAMOND TECHNOLOGY CORPORATION is based in Greenville, South Carolina. ScioDiamond employs a chemical deposition process to produce high-quality,single-crystal diamonds. Diamond materials are grown in a controlledlaboratory setting. As such, Scio refers to its laboratory growndiamonds as lab-grown diamonds.
Scio lab-grown diamonds have the identical chemical, physical andoptical properties as any diamond found in the earth. Through a highlycontrolled manufacturing process Scio is able to produce veryhigh-quality, high-purity, single-crystal colorless, near colorless andfancy colored diamond. Scio’s technology permits it to producelab-grown diamond in size, color, and quality combinations that arerare, if at all present in nature. Diamonds are now being offered inlimited quantities as jewelry and in the technology arena as thematerial operating system of the future.
The Greenville Area Development Corporation is a non-profitorganization established by Greenville County Council to promote andenhance the economic growth and development of Greenville County. Sinceits founding in 2001, GADC efforts have resulted in the creation ofmore than 12,000 new jobs and more than $2.3 billion in capitalinvestment in Greenville County. To learn more, visit www.goGADC.com or call (864) 235-2008.
