The retailer failed to file its annual report on time and said it may issue a going concern warning.
De Beers’ Element 6 Suing Diamond Grower IIa
Element 6 alleges that IIa Technologies, the sister company of Pure Grown Diamonds, is using its patented diamond-growing techniques without permission.
London--De Beers’ lab-grown diamond arm Element Six is taking legal action against IIa Technologies in Singapore, alleging the company is using techniques patented by Element Six to grow diamonds.
Element Six, which produces diamonds for industrial purposes, said the patents in question relate to material that has a combination of high-optical transparency in the visible and infra-red spectral regions and low-crystalline stress, which is desirable for use in infra-red spectroscopy and high-power laser optics.
Element Six said it believes IIa Technologies is “exploiting” its patents for commercial gain, using them without permission “potentially” for both industrial and gem-quality diamonds.
IIa Technologies Pte. Ltd. is the company that supplies lab-grown diamonds to Pure Grown Diamonds (formerly Gemesis), which sells its stones online and through retailers in the United States and Canada. The company takes its name from the fact that all the diamonds it grows are said to be Type IIa, which are rare in nature and have a high color and clarity.
Both companies are owned by IIa Holdings Group.
IIa Technologies did not respond to request for comment by press time.
In March 2015, IIa Technologies opened what it called the “world’s largest diamond factory,” a 10,000-square-foot facility in Singapore.
Along with this mega-factory, IIa Technologies also said it was opening a “Centre of Excellence,” a research facility for developing diamond-growing techniques for applications outside of jewelry, including high-precision cutting tools, quantum computing data storage, optical imaging and radiation detection.
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