Charles & Colvard, a company specializing in creating lab-created gemstones, entered the lab-grown diamond space with the debut of its Caydia brand, the company announced in a press release on Monday.

Charles & Colvard, a company best known for making lab-created moissanite, a popular and less expensive alternative for diamonds, said its foray into the lab-grown diamond space is “a natural progression” for its business.

“There is a growing awareness of and demand for lab-created gems, and now we offer two premium brands – Forever One moissanite and Caydia lab-grown diamonds. We believe this addition will allow us to tap into the estimated $5.2 billion lab-created diamond opportunity, thus capturing greater market share,” Charles & Colvard’s CEO Dan O’ Connell said in a statement.

The Caydia lab-grown diamonds are available in E, F, G color grades with a minimum clarity of VS1. The initial line will include oval, round brilliant, and cushion cuts. The Caydia diamonds will be offered in various mediums including engagement rings, wedding bands, earrings, necklaces and bracelets.

“It’s important that we continue to educate the consumer about the lab-created options available to them now. Our goal is to change the perception that the origin of a diamond is what makes it valuable. Essentially, we’re redefining real,” O’Connell added.

Charles & Colvard’s (CTHR) shares were last trading near 81 cents per share on Thursday.