MONTREAL–(BUSINESS WIRE)–Sept. 20, 2022–
The RSL Group is the first company to produce a Canadian synthetic diamond gemstone, at its production plant in Quebec. The company currently produces large diamonds for the high-end jewelry market. With sustainability at the heart of its approach, Groupe RSL believes that lab-grown diamonds have the potential to significantly reduce the environmental impacts of diamond production.
“Lab-grown diamonds have the potential to revolutionize the industry, while reducing the environmental and human costs associated with diamond production,” said Luke Sinclair, RSL Group Chief Financial Officer. “Consumers are looking for greater transparency in the diamonds they buy, and we strongly believe that the industry need not be at odds with the environment or principles of social responsibility. We are excited to see how the lab-grown diamond industry evolves over the next few years. »
Groupe RSL produces its diamonds locally in Quebec using a chemical vapor deposition, or CVD, process in which hydrogen and methane gas are combined in a plasma under specific conditions to grow diamonds one atom to times over a period of several weeks to a month. Powered entirely by hydroelectricity, the RSL Group developed its own unique process to become the first Canadian company to use this approach to manufacture diamond gems.
“For most of human scientific history, we thought it was impossible to make diamonds except under the hottest high-pressure conditions. That’s why the first attempts to make artificial diamonds were focused on replicating the intense pressure that creates diamonds underground,” adds Sinclair “Recent research has brought to light a new idea, using hydrogen and methane in a controlled reaction.”
Mined Diamonds vs Lab Created Diamonds
Mined diamonds and lab-created diamonds are identical, chemically, physically and optically, and cannot be distinguished from each other without highly specialized equipment. In fact, mined diamonds often contain flaws or impurities, both of which can be controlled or eliminated in lab-grown diamonds.
Change in consumption
There has been a significant increase in demand for lab-grown diamonds in recent years, with the share of lab-grown diamond sales more than doubling between 2020 and 2022.1 Millennials and Gen Z are moving away from mined diamonds, with nearly 70% of millennials consider buying a lab-grown alternative. 2 Consumers are also looking for greater transparency to ensure that diamonds are responsibly sourced and produced sustainably. For example, nine out of ten Gen Z consumers believe companies have a responsibility to address environmental and social issues.
About RSL Group Inc.
Groupe RSL Inc. is an innovative diamond producer and Canada’s only producer of lab-grown diamonds for the jewelry market. The company produces diamonds using a unique CVD process and technology. The RSL Group produces beautiful, durable Canadian diamonds in its Quebec factory, which is 100% powered by hydroelectricity. Although their diamonds last forever, the company is committed to ensuring that their ecological and social footprint is not. For more information, visit www.groupersl.com.
1 Edahn Golan, diamond industry analyst. https://www.gemsociety.org/news/2022/05/18/interest-lab-grown-diamonds-surging-shows-no-signs-of-stopping/#:~:text=In%202020%2C% 20lab%20diamond’s%20share,be%20attended%2C%E2%80%9D%20dit%20Golan
2 Millennial Consumer Research Lab Grown Diamonds, MVI Marketing LLC, May 3, 2018.
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CONTACT: Eric Aach
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: RETAIL CHEMICALS/PLASTICS GENERAL MANUFACTURING CONSUMER ENVIRONMENTAL ISSUES ENVIRONMENTAL HEALTH LUXURY ENVIRONMENT JEWELRY MINING/MINERALS SUSTAINABILITY NATURAL RESOURCE GENERATION Z
SOURCE: RSL Group Inc.
Copyright BusinessWire 2022.
PUBLISHED: 09/20/2022 07:30/DISC: 09/20/2022 07:32
Copyright BusinessWire 2022.