We are pleased to announce that we have committed to Wenatchee for our planned 2018 MegaCarat foundry.
Wenatchee is located in north-central Washington in Chelan County at the confluence of the Columbia River and Wenatchee rivers. Known as the "Apple Capital of the World", the city's name stems from the nearby Wenatchi Indian tribe, a Sahaptin word that means "river whose source is from canyons" or "robe of the rainbow".
We have leased three acres and a building from Stemilt, one of America's leading producer of apples and pears, and the largest fresh market sweet cherry shipper in the world. We have been impressed by Stemilt's operation and their unique approach to farming, innovation, and sustainability. We are thrilled to be working with them. Stemilt is owned over three generations by the Mathison family, and West Mathison personally conveyed a vision for the region to us that we are looking forward to being part of.
Facilitization work for Diamond Foundry's new site and local hiring has commenced. First diamond reactors are scheduled to be deployed in 2Q18. Diamond Foundry is constructing diamond reactors in its San Francisco foundry, qualifying and stabilizing them, and then deploying the stabilized tools for production in Wenatchee.
Diamond Foundry's decision was enabled by tremendous cooperation with West Mathison and Stemilt, Craig Larsen and Patrick Jones and the Port of Chelan, the Mayor of Wenatchee Frank Kuntz and his team, and Steve Wright and his team of the Chelan PUD. Ben Faubion of Steven Benjamin Properties LLC assisted with the real-estate transaction. Governor Jay Inslee and Washington State's Department of Commerce also facilitated the decision.
Wenatchee is America at its best in many ways -- a place where community and pristine nature are paramount. We are looking forward to contributing to the greater Wenatchee community for a long time.