The company produces lab-grown rough diamonds in the three to five carat size. Renaissance Diamonds processes, cuts and polishes those jewels.
Both the firms will then sell the finished diamonds in sizes from half-a-carat to two carat and larger, to retailers via a joint venture, Renaissance Created Diamonds.
Scio Diamond CEO Gerald McGuire said: "We want to provide consumers with a choice in selecting diamonds that satisfy their preferences and needs.
"Our highly controlled laboratory setting produces brilliant gems for fine jewelry, so lab-grown diamonds are a new option for today’s savvy shopper."
Scio Diamond produces colorless, near colorless and fancy color lab-grown diamonds in size, color and quality combinations that it claims are rare in earth-mined diamonds.
The company offers gems for jewelry and diamond materials for advanced industrial applications.
