Beverly Hills Courier features an interview with Diamond Foundry's CEO, Martin Roscheisen, on the future of the diamond industry.
Read the full article from Beverly Hills Courier here:
"Diamond Foundry CEO Martin Roscheisen has been shaking up the diamond industry since launching his lab-grown diamond company in 2015. Earlier this year Diamond Foundry was certified as a Carbon Neutral company by Natural Capital Partners, one of the world's first diamond producers to achieve this title. Later this year, industry titan De Beers will likewise begin to offer its own synthetic diamonds when it launches Lightbox. Even though today fewer than 1 percent of all diamonds are produced in labs, clearly, competition in this fledgling market is heating up! Below is Beverly Hills Style’s exclusive interview with Roscheisen.
BHS: Are sustainable diamonds the future or will there continue to be a strong diamond industry, beyond resale?
Roscheisen: I do believe that both markets can thrive side by side. A diamond is a diamond, whether it is lab grown or mined from the ground. The difference is in what the consumer values. As above ground diamonds are now mainstream, we find that they are choosing lab-grown so they can feel good about where their diamond comes from. Long-term, as the lab-grown category continues to grow, consumers will have more options when it comes to buying diamonds. This will eventually create a shift in mined diamond pricing as they try to stay competitive.
BHS: What is the importance of having a carbon neutral diamond?
Roscheisen: Lab-grown diamonds help to combat mining but have still required quite a large amount of energy and resources that were not environmentally friendly. We invested a lot of time and research to be able to utilize renewable energy in our foundry to truly create a sustainable diamond.
BHS: Even though lab-grown diamonds are anatomically identical to mined ones, do you believe there’s a magical quality in natural diamonds, and their billion year evolution, that simply can’t be recreated in a lab?
Roscheisen: Diamonds are formed within hours and days and sit within the earth until it is dug up by miners. The “billion year” theory is a way to romanticize a mined diamond, but the reality of that diamond is the huge environmental and human toll it took for it to be mined. For a single carat of diamond, 250 tons of earth have to be dug up, 2,011 ounces of air pollution is released and 143 pounds of carbon dioxide is emitted. The Diamond Foundry buyer understands luxury but is aware of the devastating effects that mining has had. They are socially conscious and are looking for an ethical option without compromising quality." -Written byLaura Coleman