(PRESS RELEASE) HOD HASHARON, ISRAEL — Singapore Exchange Mainboard and Tel Aviv Exchange listed Sarine Technologies Ltd (“Sarine” and along with its subsidiaries “the Group”) (U77:SI; SARN.TA), 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, announces that it is commencing beta testing of its new AutoScanTM system, an innovative robotic system for acquiring high volumes of rough diamonds, having successfuly finished the alpha testing phase.
The Sarine AutoScanTM system provides the optimal solution to truly enable the scalability of diamond traceability. Operators simply pour parcels of rough diamonds into one of the device’s input bins, and the system will scan and weigh each one of the stones rapidly and accurately and then aggregate them back into their original parcels. The process generates the requisite data to document the rough diamond in a way that facilitates its subsequent identification at the highest levels of confidence at later stages of its workflow – either still at the producer’s sorting facilities or at a successive stage of the process, whether it be at a wholesale tender house, a midstream polisher, a forwarding agent, an insurance broker, a financial institution, etc.
The system utilises various advanced motion and measurement technologies that move each rough diamond rapidly through the system while scanning and measuring it, generating and storing the necessary identifying data related to each stone in the cloud, before batching the diamonds back into their original parcels, all in a secured and controlled environment.
David Block, CEO of Sarine Technologies, commented: “The need for traceable diamonds is growing faster than anticipated, also as a result of the recent weeks’ events. This rapidly evolving need demands that we accelerate the Sarine AutoScanTM release timeline, which is an essential prerequisite to scaling up the amount of diamonds that can be registered for traceability in a cost-effective non-disruptive efficient manner at the producer or other large scale sorting and marketing entities, such as the recently announced initiative with Belgium’s Bonas. This system will enable the scanning of a much larger quantity of diamonds, including of smaller sizes, without impacting the logistical cycle.” Mr. Block added that, ”The Sarine AutoScanTM system is an important additional step in our full traceability solution and enables us to provide not only the most comprehensive verifiable database solution, but also to do so in a truly scalable manner with minimal operational overhead, costs or delay. As well as providing mine-to-retail traceability, we are also enabling rough producers and traders to put in place a mechanism that assures diamonds are not lost or switched during the many stages of the internal processes that rough stones diamonds go through at their facilities, often remotely located. This will also enable them to better control their inventory and maximize their benification programs.
