Ray Techniques produces nano-diamonds of high purity using laser treatment of an ash-wax mixture (with patents in the United States, Europe, and Korea), as well as nano-diamond additives in the form of modified powders and stable colloids based on various solvents and polymer resins. Ray's method of nano-diamond detonation synthesis is controllable, efficient, environmentally friendly, and nonhazardous, enabling the high purity and uniformity of nanoparticles required for most applications. The company's current product list includes efficient additives to polymers, coatings, lubricants, and nano-fluids for biomedical research. Ray took part in two Horizon 2020 projects and has achieved promising results in the areas of cancer research and slow neutron reflection. Ray's business plan was awarded the Seal of Excellence and recommended for funding by the European Innovation Council.