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WD Lab Grown Diamonds Inks Sublicensing Agreements
The agreements grant Altr and Evolution Diamond access to WD’s patent portfolio related to lab-grown diamonds created via chemical vapor deposition.
WD Diamonds expects the agreement to broadly expand consumer access to lab-grown diamonds.
Washington, D.C.—WD Lab Grown Diamonds, a self-described pioneer of chemical vapor deposition (CVD) lab-grown diamonds, has signed patent sublicensing agreements with a few key players in the space.
The company inked an agreement with Altr (India) Private Limited and Altr, Inc., as well as Evolution Diamond, a lab-grown diamond wholesaler led by industry veteran and CEO Rajiv Kothari.
Launched in 2016, lab-grown diamond company Altr is a division of Amish Shah’s R.A. Riam Group, Inc., a mainstay in the diamond and fine jewelry world for more than 85 years.
In January, WD sued Altr and its parent company for patent infringement, but the case was settled in March.
“To set a precedent that symbolizes legitimacy and responsible business practices in the lab grown diamond category is a matter of pride, and a great opportunity for us,” said Hitesh Mehta, managing director of ALTR India.
The agreements allow the companies to distribute CVD lab-grown diamonds, grown either by WD or another manufacturer, in the U.S., Canada, Mexico, and anywhere else the patents apply.
WD’s full patent portfolio is covered by the agreements, including those developed via the Carnegie Institute of Washington.
The first Carnegie patent covers CVD diamond growth using microwave-plasma while the second patent reflects a high-pressure, high-temperature annealing process that improves a diamond’s visual qualities.
All lab-grown diamonds produced by WD are certified Type IIA.
“In keeping with our vision for a more inclusive industry, we are excited ALTR and Evolution will join us in broadly expanding consumer access to lab grown diamonds,” said Sue Rechner, Chief Executive Officer of WD Lab Grown Diamonds.
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