Renewable

June 15 (Renewables Now) - Israeli start-up Lusix says it has become the world’s first producer of lab-grown diamonds (LGDs) to rely solely on solar power for all activities, including its diamond growing operations.

Lusix’s entire business is now 100% solar-powered thanks to a dedicated solar farm of 30 MW, located in southern Israel. The company has, as a result, been certified sustainably rated by third-party sustainability verification authority SCS Global Services and will now market its diamonds under the commercial name Sun Grown Diamonds.

Earlier this month, the company raised USD 90 million (EUR 86m) in an investment round with participation from LVMH Luxury Ventures, Ragnar Crossover Fund and More Investments. It said it intends to use the fresh capital to fuel its growth initiatives by adding a second 100%-solar-powered diamond production facility that should start operations this summer.

Founder and chairman Benny Landa pointed out in a statement that the diamond growing process is highly energy-intensive.

“Being the first company to power its entire diamond growing operation with solar energy, we are setting new sustainability standards – and are making a very powerful statement: lab-grown diamonds of even the very highest quality can be produced sustainably, meeting an ever-increasing consumer desire for luxury goods that are thrilling to own and sustainably created,” he stated.

(USD 1.0 = EUR 0.955)

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