Singapore Exchange Mainboard listed Sarine Technologies Ltd (“Sarine” and along with its subsidiaries “the Group”) (U77:SI), a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the evaluation, planning, processing, measurement, grading and trading of diamonds and gems, is pleased to announce it has entered a strategic collaboration agreement with the Constell Group.

The Constell Group has operations in India and Southern Africa, employing more than 4,000 people worldwide. Constell focuses on serving the entire diamond industry, primarily focused on aiding the midstream seamlessly transform raw materials to desirable finished gems in the most cost-effective way, realising the best possible value for their clients. Constell offers a broad range of services including sorting of rough stones, polishing and other logistical services.

Constell’s strategy is to utilise the most advanced technologies available in order to provide first rate services to the market. This strategy has naturally led to past cooperation between Constell and Sarine, cooperation which has benefitted both parties for many years. The parties have now decided to proceed to the next level by establishing this strategic cooperation, which will initially focus on the rapidly growing segment of lab grown diamonds (LGD). The aim of the joint effort is to forge a closer cooperation that will quickly and efficiently provide technological solutions for the current and evolving needs of the rapidly expanding LGD segment. The cooperation will allow customers to benefit from more competitive pricing. The business model will remunerate Sarine based on each stone processed, regardless of the specific technologies applied in the processing.

Meir Boukris, Executive Chairman of Constell, said: “Sarine’s technological leadership combined with our diamond expertise and experience in many varied fields will enable our customers to benefit from a premium service at a beneficial price. We believe that the application of Sarine's advanced technological solutions to many of the currently manual processes will increase the realised value significantly, and we are fully commited to bringing this evolution to the burgeoning LGD market.”

David Block, CEO of Sarine Technologies, commented: "Having worked together for many years, we are honored to collborate with Constell, which shares our vision for the diamond industry value chain.The rough-to-polished pipeline is rapidly changing, and to adapt to market developments significant technological developments are needed, which we have been and continue to passionately develop. In addition to our innovations directly contributing to the optimisation and streamlining of the polishing process, we see significant added-value in our groundbreaking Traceability and e-Grading solutions, which can be applied to LGD equally as to natural diamonds, to ensure a verifiably sustainable supply of diamonds to a rapidly changing consumer environment.”