Lab-grown diamonds have burst onto the jewelry scene in recent years, winning significant market share in the process. But the general public is often unaware that they have been used for over 70 years in industry, and more recently in high-tech, where their quality as thermal conductors and their ability to detect the tiniest magnetic fields are highly sought-after. Element Six, a De Beers Group subsidiary and lab-grown diamond manufacturer, has just signed a partnership agreement with Bosch to create quantum sensors.
A market worth €10 billion a year
Based in Ludwigsburg, Germany, the joint venture between Bosch and Element Six – called Bosch Quantum Sensing – currently employs 30 people. Bosch manages the operations of the start-up, in which the De Beers subsidiary holds a 25% stake.
For over 10 years, Bosch has been investing considerable sums in the R&D and commercialization of quantum technologies. The German company estimates that the global market potential in medicine and mobility (navigation in particular) could eventually reach €10 billion a year. It chose Element Six for its ability to supply high-quality lab-grown diamonds in large quantities, so the partnership should allow Bosch to fuel a serious technological lead, having designed the most compact prototype quantum sensor in its class – the size of a smartphone – for the level of sensitivity required.
The advantage of compact sensors lies in their portability, lower production costs and greater scalability. Bosch Quantum Sensing’s long-term goal is to manufacture quantum sensors so small that they can be integrated onto a chip.
“Smart” diamonds
In the field of mobility, the joint venture will enable the development of more efficient GPS navigation. It could also offer decisive advantages for natural resource exploration and in the field of medical technologies, for the measurement of cardiac activity.
“At Element Six, we have learned to combine the strength of a diamond with the ‘fragility’ necessary for quantum sensing.” explained Al Cook, CEO of De Beers. “What could this mean? Our challenge is to make sensors that are small, low-cost, robust and incredibly sensitive. If we can do this, we can create devices that could detect the tiniest change in your heart muscles, without any surgery. A device that can navigate perfectly, even underwater or in the sky. A device that could turn your brainwaves into actions.” continued Al Cook.
High-tech or jewelry?
Lab-grown diamond manufacturers have a keen interest in the high-tech market. This is not surprising when you look at the figures, with the price of these stones destined for jewelry plummeting year after year. Diamond expert Paul Zimnisky noted that their wholesale prices have fallen by 90-95% compared to 2015. The reason? The proliferation of production plants, especially in India, is flooding the market. Against this backdrop, the best manufacturers are turning to the more profitable high-tech sector, starting with De Beers – which has stopped supplying lab-grown diamonds for the jewelry industry – much to the relief of US retailers which saw this as a form of betrayal. Leonardo Di Caprio’s company Diamond Foundry made the news last year with plans for a gigantic, heavily subsidized factory in Spain, whose production will be mainly for industry. A few months later, Lusix claimed that its lab-grown diamonds had “a fabulous future in high-tech applications.” It is a view shared by WD Lab Grown and other manufacturers, all of which have directed a greater or lesser proportion of their business towards industry.
Lab-grown diamonds are emerging as a key material for the technologies of tomorrow. With their extraordinary physical properties and declining profitability in the jewelry market, are they destined for a ‘smarter’ future? The partnership between Bosch and Element Six could well illustrate this strategic shift, with high-tech becoming the new showcase for lab-grown diamonds.
Images : Bosch
