Adamas One Expected Up to $150M in EBITDA in its First Phase of Expansion
08 February 2023 - 1:00AM
Adamas One Corp. (Nasdaq: JEWL) (“Adamas One,” “Adamas” or the
“Company”), The Original Lab-Grown Diamond Company™, a high-tech
company that leverages proprietary technology to produce
high-quality, single-crystal, Lab-Grown Diamonds for jewelry and
diamond materials for industrial uses, announces it has
renegotiated the lease for its new South Carolina manufacturing
facility. The new lease allows for expansion of the facility to
support up to a total of 400 proprietary reactors to produce the
Company’s lab-grown diamonds.
The first phase will consist of the installation
of 100 reactors, which at full capacity will be able to generate up
to $30 million in topline revenue, or approximately $14 million in
EBITDA on a monthly basis, or more than $300 million in topline
revenue/$150 million EBITDA on an annual basis. Upon completion,
the Company expects to house close to 400 of its proprietary CVD
reactors.
“The renegotiation of our new Greenville
facility lease is an important step in our capability to ramp up
production of our lab-grown diamonds. We have completed the
architectural design for the new facility and we are approaching
completion on the engineering designs. This state of the art
facility is designed to have an extremely low carbon footprint and
a safe and friendly work environment for our employees. We
anticipate to start generating income from this facility towards
the end of Q3. At full capacity, this represents a significant,
rapid increase in revenue generation, which we see only increasing
upon reaching the facility’s full capacity of 400 units. We are
aggressively moving forward with our development plans, which we
believe will generate optimal shareholder value by bringing new
product into the consumer market. We look forward to continuing to
update shareholders on these developments as well as other
activities that will facilitate our entry into the consumer jewelry
market,” stated Adamas One CEO, Jay Grdina.
About Adamas One Corp.
Adamas is a lab-grown diamond manufacturer that
produces near flawless single-crystal diamonds for gemstone and
industrial applications, in its facilities in Greenville, South
Carolina. The Company holds 36 patents and uses its proprietary
chemical vapor deposition (CVD) to grow gem-sized and smaller
diamond crystals. Adamas One™ lab-grown diamonds have the same
physical, chemical and optical properties as mined diamonds. The
Company’s controlled manufacturing processes enables it to produce
very high-quality, high-purity, single-crystal colorless, near
colorless and fancy colored Type IIA diamonds to suit a variety of
industrial and gemstone applications. The Company intends to market
and sell its diamonds into the wholesale jewelry and industrial
markets. For more information, visit www.adamasone.com.
Not Mined. Not Fake. Just sped up
perfection. ™
Forward-Looking StatementsThis
press release may include “forward-looking statements.” To the
extent that the information presented in this press release
discusses financial projections, information, or expectations about
our business plans, results of operations, products or markets, or
otherwise makes statements about future events, such statements are
forward-looking. Such forward-looking statements can be identified
by the use of words such as “should”, “may,” “intends,”
“anticipates,” “believes,” “estimates,” “projects,” “forecasts,”
“expects,” “plans,” and “proposes.” Although we believe that the
expectations reflected in these forward-looking statements are
based on reasonable assumptions, there are a number of risks and
uncertainties that could cause actual results to differ materially
from such forward-looking statements. You are urged to carefully
review and consider any cautionary statements and other
disclosures, including the statements made under the heading “Risk
Factors” and elsewhere in documents that we file from time to time
with the Securities and Exchange Commission. Forward-looking
statements speak only as of the date of the document in which they
are contained, and Adamas One Corp. does not undertake any duty to
update any forward-looking statements except as may be required by
law. References and links to websites have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release.
For more information contact:
Investor RelationsCORE IRScott Arnold, Managing
Partner516 222 2560ir@adamasone.com
Media RelationsCORE IRJules Abraham917 885
7378
Source: Adamas One Corp.
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