Adamas One Announces Plans to Increase Presence in Semiconductor Sector
Company appoints Mr. Peter Cohen Vice President, Business Development
Mr. Cohen will work directly with COO Gerald McGuire on increasing utilization of Lab-Grown Diamonds in semiconductor production
SCOTTSDALE, Ariz., Aug. 04, 2023 (GLOBE NEWSWIRE) -- 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 and technology uses, today announced its plans to increase its presence in the semiconductor sector and the appointment of Peter Cohen as Vice President, Business Development. Mr. Cohen will initially concentrate on the utilization of Lab-Grown Diamonds in the production of semiconductors in the industrial and technology sectors. He will report to Chief Operating Officer Gerald McGuire, who has extensive experience in the semiconductor field.
According to the National Institutes of Health, "among wide bandgap semiconductors, diamond is considered to be the ultimate semiconductor for applications in high-power electronics due to its exceptional properties. Its dielectric breakdown strength is three times higher than in silicon carbide and more than 30 times higher than in silicon."1 The NIH further references great concern about the conflict between energy and the environment with the focus on lowering greenhouse gas emissions. An important issue facing the semiconductor sector (which is expected to be a $1 trillion sector by 2030) is lowering power consumption. Wide bandgap semiconductors in power electronics represent significant potential energy savings for power-consuming devices from electric vehicles to medical devices, to wireless communications and more. The industry has determined that diamonds offer superlative properties for high-speed, high-power components.
"Lab-Grown Diamonds' thermal conductivity and durability make them ideal for use in semiconductor devices. We believe our patented technology provides us with a significant opportunity to address the increasing demands of the semiconductor sector," Adamas One CEO Jay Grdina stated. "We are excited to welcome Peter to our team, where he will work with Jerry to solidify our presence in the semiconductor space and then help identify more consumer-oriented opportunities with our soon-to-be-launched Elle Jolie luxury jewelry line. Having worked closely with him in multiple capacities for over a decade, I am confident Peter has the significant reach, especially across the media and entertainment landscape, that will help Adamas One substantially expand awareness and market penetration."
Mr. Cohen and Mr. McGuire will leverage their respective knowledge to build momentum in both the semiconductor and fine jewelry markets. Previously, Mr. McGuire served as the Vice President and GM of the DSP business at Analog Devices and the Senior VP responsible for the Low Voltage and Mid-Power Analog Business at Fairchild Semiconductor, now part of ON Semiconductor.
Mr. Cohen has more than 20 years as a senior media and entertainment executive. He has extensive management experience in content development and production, digital platform solutions, and the strategic application of transformational new media technologies. Mr. Cohen previously served in senior positions at multiple media and content organizations, including Dancestar Ventures, Anthem Sports & Entertainment Corp., HBO, CNN International, AMC Networks, ACTV, The Box/MTV2, Fashion TV, and Billboard Live. He holds a Bachelor of Science degree in human ecology from College of the Atlantic, Bar Harbor and completed post-graduate work in cetology and behavioral psychology at Boston University.
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 Statements
This 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, including, but not limited to, our ability to integrate the AI solutions as expected, or at all, and the success of our business partners. 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 Relations
CORE IR
Scott Arnold, Managing Partner
516 222 2560
[email protected]
Media Relations
CORE IR
Jules Abraham
917 885 7378
Source: Adamas One Corp.
1National Institutes of Health- November 22, 2021 Issue, titled "Diamond for Electronics: Materials, Processing and Devices."
