De Beers-controlled Element Six opines that there is good reason that artificial should be promoted, and is doing the same with a $100 million budget. The company will make efforts to promote synthetic diamonds in artificial hips and knees, electronics and water purification, according to reports.

Element Six is a manufacturer of synthetic diamonds. Apart form its individual investment worth a $100 million, it is vying to build a funding of about $400 million through investment groups and technology companies. These funds have been identified to support 15 start-up companies, which are involved in exploiting the unusual technical characteristics of artificial diamonds. As of now, Element Six has invested about $16 million from the venture capital fund.

Synthetic diamonds so far, have been exploited for their abrasion-resistant properties and used in cutting tools for machining and mining, while being good conductors of electricity makes them useful as semi-conductors in place of silicon.