Lab-grown diamond production could hit one million carats by the end of the decade, Gemesis CEO Steven Lux announced at the GIA Symposium May 31.

Lux said his company plans to begin selling colorless stones through its website sometime this year.

He added that his stones will sell for 25 percent less than the cost of a comparable mined stone, and that many customers are choosing his stones because they feel they have less “environmental impact.”

Lux noted that while his company is committed to disclosure
and will inscribe its bigger gems, it does not plan to inscribe the
smaller lab-grown stones that will be sold as side stones.

“Melee is a challenge we don’t have an answer for,” he said.

He also asked the industry not to use the word “synthetic” to describe his product, since most customers think it means “fake” and confuse it with “simulant.”

JCK