Lab-Grown Diamond Facility in Singapore to Commence Commercial Production
2022年8月8日 - 08:00AM
JCN Newswire
SGX-listed Metech International Limited ("Metech" or the
"Company", and together with its subsidiaries, the "Group"), is
pleased to announce that the lab-grown diamond facilities in
Singapore of its joint venture company, Asian Eco Technology Pte.
Ltd. ("Asian Eco"), can commence commercial production, following
the receipt of the fire safety certificate issued by Singapore
Civil Defence Force.
A pilot test of the lab-grown diamond facilities has been
successfully completed.
As announced previously, Asian Eco entered into a 3-year lease
agreement for an industrial property located at Kallang for the
production of lab-grown diamonds.
A wholly-owned subsidiary, Zhongxin Minghua (Shanghai)
International Trade Co., Ltd. (formerly known as Nolash (Shanghai)
Pte Ltd.), is now a registered member of the Shanghai Diamond
Exchange with effect from 13 July 2022.
Growing Industrial Applications of Lab-Growth Diamonds
Diamonds are more widely known to be used in jewellery but diamonds
are also commonly used for industrial applications in oil &
gas, medical equipment, aerospace, among others.
With an impressive combination of chemical, physical and mechanical
properties that are ideal for a wide array of industrial
applications, there is increasing commercialisation of scientific
discoveries for the industrial applications of diamond in the next
generation of semiconductors, aerospace, electric vehicles, medical
equipment, among others.
To harness such opportunities, Asian Eco has previously entered in
various memorandum of understandings and collaboration agreements
with strategic partners and prominent institutions in the areas of
research and development and commercialisation.
Commenting on the commencement of Asian Eco's commercial production
of lab-grown diamonds in Singapore, Ms. Samantha Hua, Executive
Director and Chief Executive Officer of Metech, said: "This is a
major milestone in our business strategy, accelerating our growth
ambitions within the global lab-grown diamond industry that
continues to exhibit positive growth prospects with its
sustainability features.
Aligned with the macro trends of the global lab-grown diamond
market, we aim to progressively scale up our production
capabilities in Singapore and harness new opportunities."
About Metech International Limited
(Bloomberg: CENR:SP / Reuters: METE.SI / SGX Stock Code: V3M)
Listed on the Singapore Stock Exchange, Metech International
Limited ("Metech") has a multi-pronged business model that aligns
with the macro trends in the area of environmental and
sustainability.
While proactively evaluating new business opportunities to broaden
its business model, Metech continues to build on its capabilities
and extend the value propositions of its business units.
Media & Investor Contacts:
This announcement has been prepared by the Company and reviewed by
the Company's Sponsor, Novus Corporate Finance Pte. Ltd. (the
"Sponsor"), in compliance with Rule 226(2)(b) of the Singapore
Exchange Securities Trading Limited (the "SGX-ST") Listing Manual
Section B: Rules of Catalist.
This announcement has not been examined or approved by the SGX-ST
and the SGX-ST assumes no responsibility for the contents of this
announcement, including the correctness of any of the statements or
opinions made or reports contained in this announcement.
The contact person for the Sponsor is Mr. Pong Chen Yih, Chief
Operating Officer, at 7 Temasek
Boulevard, #18-03B Suntec Tower 1, Singapore 038987, telephone (65)
6950 2188.
Issued on behalf of Metech International Limited by 8PR Asia Pte
Ltd.
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com
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