GREENVILLE, SC, April 18, 2013 /PRNewswire/ - Scio Diamond Technology Corporation (OTCBB: SCIO.OB) (hereinafter "Scio" or the "company") today announced that it has been selected to be featured on the Fox Business News show "Built in America". Scio also announced fiscal year ending production status.
Scio, in concert with Studio 1080 Inc., is proud to announce that it will be featured on the premier airing of "Built In America" on the Fox Business Network on April 28 at 2:30 PM. "This is a very exciting time for Scio", said Michael McMahon, Scio's CEO. "To be selected as a featured article on the premier showing of Built in America is a great opportunity for Scio Diamond to show Fox's 68 million-viewer audience our one-of-a-kind technology".
"While filming the Scio Diamond feature, we were truly amazed at this diamond making technology and impact it will have in the future to all of us", said Mr. Collin Williams, Executive Producer / Director of Studio 1080. It was astounding to actually watch diamond growing and learn the many, many uses of diamond".
March 31, 2013 ended Scio Diamond's first complete year of operation and fiscal year. During that year Scio designed and built its new production facility in Greenville, SC and relocated all production equipment from Massachusetts to Greenville. Production began in earnest in July and over the last nine months Scio has produced over 15,000 carats of lab grown single crystal rough diamond. Scio has been shipping product and have been earning revenue since September of 2012."It has been an exciting first year of operation", says Michael McMahon. "Our staff has worked endless hours, 7 days a week to bring our facility to this point". Scio produced 275 carats of single crystal lab grown diamond per week in its first quarter of operation (July - September 2012). Its average production in the last quarter (January- March 2013) exceeded 600 rough carats of single crystal diamond per week. In addition to the production of diamond, Scio has an operational diamond laser fabrication operation, which allows it to self-sustain its seed production and customize product for both industrial and gemstone customers.