Driven by principles of ecological guardianship and societal accountability, WeCare is a charity organisation that has recently raised significant funds for innovations within the lab-grown diamond sector. Saad Kassis Mohamed, Chairman, explains how he hopes the industry will emerge as a sustainable and ethical alternative to traditionally mined, natural-grown diamonds.
SHINE BRIGHT LIKE A LAB-GROWN DIAMOND
As an organisation committed to upholding the highest standards of ethical responsibility within the diamond industry, WeCare’s mission revolves around fostering transparency, sustainability, and ethical practices throughout the diamond supply chain.
“We strive to ensure that all stakeholders, from miners to consumers, benefit from responsible mining practices,” introduces Chairman, Saad Kassis Mohamed.
Having recently raised over USD$350,000 to accelerate innovation within the lab-grown diamond sector, WeCare aims to drive R&D efforts to bolster market growth.
In addition, it is hoped that the company’s investment in cutting-edge technology and its collaboration with industry partners will further advance the sustainable and ethical standards of the sector.
ETHICALLY ALIGNED
In recent years, lab-grown diamonds have emerged as a more responsible alternative for several reasons.
“Firstly, they are created in controlled environments using advanced technology, which significantly reduces the environmental impacts associated with traditional diamond mining,” Mohamed reveals.
Pollution, soil erosion, increased carbon emissions, as well as deforestation and habitat destruction from waste are just a few of the many negative consequences associated with traditional diamond mining.
Lab-grown diamonds, which are cultivated in controlled lab environments that dispose of waste safely and use significantly less of the Earth’s resources in their production, could therefore offer a feasible and sustainable alternative.
In addition, lab-grown production is free from the ethical concerns often associated with natural diamond mining.
“Uncertainties around human rights within traditional mining, alongside environmental degradation, are a cause for concern,” he outlines.
In comparison, lab-grown diamond manufacturing companies are expected to follow strict labour and human rights rules that are enacted to prevent harm to human life.
In this way, by raising funds to support lab-grown diamonds, WeCare hopes to offer a sustainable and ethical alternative to natural mining.
TECHNOLOGICAL ADVANCEMENTS
In order to foster the ongoing development of lab-grown diamonds, WeCare actively promotes innovation in the industry by sponsoring various R&D initiatives.
“R&D and innovation are paramount to the ongoing development of lab-grown diamonds,” Mohamed notes.
“We recognise the importance of continuous improvement and technological advancement in enhancing the quality, scalability, and environmental sustainability of lab-grown diamond production.”
Recent technological developments in the industry include techniques such as chemical vapour deposition (CVD) and high-pressure, high-temperature (HPHT).
CVD is a controlled method resulting in significant clarity and purity, whilst HPHT mimics the natural conditions in which diamonds are formed by subjecting carbon materials to high pressures and temperatures.
These techniques have increased the quality, size, colour, and brilliance of lab-grown diamonds in comparison to those naturally mined, essentially enabling higher-quality products from a lower-risk environment and, in turn, providing greater affordability as these methods are refined.
“Through our focus on R&D and innovation, we strive to push the boundaries of what is possible in the lab-grown diamond industry,” he adds.
“Through our focus on R&D and innovation, we strive to push the boundaries of what is possible in the lab-grown diamond industry”
Saad Kassis Mohamed, Chairman, WeCare
FUNDING AND VALUATION METHODS
WeCare’s recent innovation funding initiative garnered participation from investors such as Red Capital Plc, alongside other financial backers.
“As a result of our strategic planning and collaborative efforts, we engaged in targeted fundraising activities and leveraged our network of investors and industry experts by articulating a compelling vision for the future of lab-grown diamonds,” Mohamed tells us.
The success of WeCare’s funding drive underscores the widespread, growing interest in the potential of the lab-grown sector as a sustainable and ethical alternative to naturally mined diamonds.
In addition to its funding of R&D and innovation, WeCare also provides propriety valuation methods, in which it meticulously assesses lab-grown diamonds for market potential and quality.
“We take pride in our proprietary valuation methods, which involve our accredited experts providing accurate and comprehensive valuations of lab-grown diamonds using scientific analysis, market research, and industry expertise,” he informs.
By offering transparent and reliable valuation services, WeCare empowers stakeholders to make informed decisions that enable them to navigate the lab-grown diamond industry with confidence.
FUTURE PROSPECTS
As it looks on the horizon, WeCare anticipates changes within the diamond industry and hopes that lab-grown products will be viewed with increasing favourability in the future.
“Our overall goals encompass driving positive change within the diamond industry and beyond,” Mohamed explains.
As it aims to continue leading the charge in promoting ethical and sustainable practices within diamond production, as well as fostering innovation and collaboration, WeCare hopes to advance the adoption of lab-grown diamonds as a viable and responsible choice for consumers.
“Ultimately, our vision is to create a more transparent, equitable, and environmentally conscious diamond industry that benefits all stakeholders involved,” he concludes.
