E6 Ventures Wins Investment for Spin Out Company, Diamond Detectors

Diamond Detectors Ltd, a subsidiary company set up by Element Six to manufacture innovative diamond detectors and sensors for radiation monitoring applications, yesterday announced that BAE Systems is to take a 50 percent holding in Diamond Detectors Ltd, investing up to £2 million ($3 million).

The company was set up in 2007 with the aim of incorporating synthetic diamond made by chemical vapor deposition developed by Element Six into novel detectors for a range of markets. It is one of the first companies to be included in the growing investment portfolio of Element Six's venture capital fund, E6 Ventures.

Diamond Detectors Ltd is focusing on the development of customized detector solutions and will initially target four main markets: high energy physics, nuclear monitoring, radiotherapy dosimetry and deep-UV detection.

Industrial applications include detectors for use in medical dosimetry, data logging in oil well exploration, UV applications such as photolithography and cleaning for semiconductor manufacturing. "Diamond Detectors is already working closely with a number of industrial partners on the future commercialization of these potential products," says Kevin Oliver, general manager of Diamond Detectors Ltd.

"We welcome on board a strategic investor that has a requirement for the products under development at Diamond Detectors Ltd," says Brendon Grunewald, Head of E6 Ventures. "This second round of funding will support the company as it moves into full product commercialization."

Element Six is part of the De Beers Group of companies. It is a leading supplier of high quality superabrasives and industrial diamond materials. E6 Ventures is a $100m fund operated by Element Six.