Cresta Fund Management's Commitment to Climate Solutions
In a significant move to tackle climate change, Cresta Fund Management LLC, a private equity firm based in Dallas, has recently announced a new investment in Lapis Carbon Solutions. This step underscores Cresta's strong commitment to advancing low-carbon infrastructure and technologies through its newly established Cresta Sustainable Fund II.
This latest investment will play a crucial role in accelerating Lapis’s ongoing projects and developing new initiatives focusing on carbon capture, utilization, and storage (CCUS) solutions tailored specifically for high-emission industrial sectors. Positioned as a leader in the carbon management arena, Lapis Carbon Solutions is on a path to redefine how industries handle their carbon footprint.
Chris Rozzell, the Managing Partner at Cresta, expressed his confidence in Lapis’s ability to lead in carbon capture and storage. “Private equity has a critical role to play in enabling decarbonization at scale, and we are proud to support Lapis as they build the infrastructure necessary for a lower-carbon future,” he remarked, emphasizing the importance of this partnership in driving positive environmental impacts.
Since Cresta’s initial investment in late 2021, Lapis has swiftly ascended to be recognized as one of North America’s most innovative carbon management providers. By offering bespoke solutions for the capture and utilization of CO2, Lapis not only helps clients meet their sustainability goals but also optimizes the economic value of captured carbon.
Reg Manhas, CEO and Co-Founder of Lapis, shared his enthusiasm regarding this new infusion of capital: “We’re excited to deepen our partnership with Cresta as we enter our next phase of growth. Their continued support will help us accelerate our expansion,” he stated. This sentiment reflects the dynamic potential of the collaboration, which aligns seamlessly with the growing global emphasis on sustainable practices.
The recent approval of the U.S. budget reconciliation bill, which includes the 45Q Carbon Sequestration Tax Credit, reaffirms bipartisan support for carbon management efforts. This legislative backdrop not only reinforces the economic rationale for building essential CCUS infrastructure but also aligns with Cresta’s investment strategy aimed at fostering innovative climate solutions.
Cresta’s Sust. Fund II marks one of its first major financial commitments following its investment in Ocean Pacific last year. Alongside growth capital, Cresta's involvement extends to providing strategic guidance and operational proficiency to aid Lapis in executing its ambitious plans for infrastructure development and commercial engagements.
About Cresta Fund Management
Cresta Fund Management stands at the forefront of sustainable investment, steering approximately $1.6 billion in assets. The firm specializes in creating opportunities within the energy and infrastructure sectors, focusing on both sustainable and traditional energy solutions.
About Lapis Carbon Solutions
Founded in 2020, Lapis Carbon Solutions has quickly positioned itself as a preferred partner for energy-intensive industries seeking effective carbon management strategies. With its headquarters in Dallas and a robust vision for scaling CCUS projects across North America, Lapis is committed to helping businesses reduce their environmental impact through advanced carbon technologies. To learn more about Lapis, visit their
website.