April / May 2020 - Lab Grown Magazine

April / May 2020 | LG | The Lab Grown Diamond Resource Book 14 To advertise call (888) 832-1109 | April / May 2020 15 parthdiamonds.com contact@parthdiamonds.com Direct: (310) 779-1151 Office: (213) 622-2094 Toll: 1 (855) 4 LAB GROWN 1 (855) 452-2476 All Types of Melees Fancy Shapes & Colors Next Day Delivery Extremely Competitive Pricing The Largest Lab Grown Supplier in Los Angeles Most Reputable Manufacturer of 4ct+ CVD F-J Color Rounds Up to 5ct in Every Shape and Color first carbon-neutral LG producer since its pro- duction is powered by renewable energy in Cali- fornia. And so far, no one has challenged this assertion, but how does it measure up on the yet-to-be-invented carbon-footprint calculator? Renewable energy is defined as power pro- duced from unlimited natural resources that can- not be depleted or may be replenished within a human’s lifetime. The most common examples are solar, wind and hydro-power. The company, Renewable Energy Prospects, issued a statement noting: “The United States of America can increase its use of renewable en- ergy in power generation to almost 50% by 2030, making it the world’s second largest renewable energy user after China, if it moves properly and promptly.” At last count, the U.S. is at 13.3% with opera- tional renewables, but the 2018 Grid Transfor- mation and Security Act and the Clean Economy Act are making some states jump into action. For example, Virginia has mandated 100% of “clean power” by 2045. If you are a lab-grown producer, keep that in mind when seeking to set up shop in a “clean energy” state with many tax benefits. Under the Sea What about other sources of diamond? “Let’s not forget there are plenty of undiscovered dia- mond mines under the sea, which might be more eco-friendly than traditional mining, but that in- vestigation has just begun,” says Ashok Some, a professor and luxury brand strategist at France’s ESSEC Business School. De Beers didn’t need to hear that from a French professor. The company took the dive in 2016. With an investment of more than $100 million, a De Beers unit traveled to Namibia, off Africa’s Atlantic coast, with a 285-ton vacuum machine. Operating 400 feet below sea level, it was de- Since lab-grown diamonds are about half the price per carat of mined diamonds with projected retail costs to decline with market saturation, the margins are very healthy for retailers who make the move into lab-grown diamonds. (Graph: Vogue Business) The lack of real data is what makes clear conclusions about the relative benefits of lab-grown diamonds so difficult to reach. (Photo: Ringso) signed to suck up some of the world’s most pre- cious diamonds from the ocean floor. There were no explosives, no pickaxes, no kidding. While it somewhat worked, there were several technology issues. Even worse, it vacuumed up many fish and sea plants. Clearly, it had an envi- ronmental impact on those creatures. De Beers went back to the drawing board and created the world’s first diamond-searching ship, a custom-built vessel crafted for $468 million in 2019. Called the Debmarine , the ship is a joint venture between De Beers and the government of Namibia. It now owns seven of these ships and operations are scheduled to start in 2022. This joint venture is expected to add 500,000 carats per year to Namibia’s output of seabed mined diamonds. In comparison, the typical mining side in Na- mibia is one million carats a year, although that land site is up for sale. “We are focused on find- ing a buyer that can sustain operations beyond 2020, protect jobs and contribute sustainably >>