Investment fuels Lapis’ project pipeline and expansion into CO2 utilization
DALLAS, July 15, 2025 /PRNewswire/ — Cresta Fund Management LLC (Cresta), a Dallas-based private equity firm that invests in low-carbon molecule infrastructure and solutions, today announced an investment in Lapis Carbon Solutions (Lapis) through its recently launched Cresta Sustainable Fund II (Sust. Fund II).
This investment reflects Cresta’s continued conviction in Lapis’ leadership and strategy to develop bespoke carbon capture, utilization and storage (CCUS) solutions for high-intensity emission sources. The new capital, alongside co-investment from other sources, is expected to accelerate the development of Lapis’ anchor projects and expand the broader pipeline of project opportunities, including the expansion into carbon dioxide (CO2) utilization.
“This investment reflects our belief in Lapis’ ability to lead the way in carbon capture, sequestration and utilization,” said Chris Rozzell, Cresta’s Managing Partner. “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.”
Cresta made its initial investment in Lapis in late 2021, and today, Lapis is scaling into one of North America’s leading carbon management providers. Lapis provides industrial emitters with build-to-suit sequestration and utilization solutions, allowing customers to maximize value for CO2 waste.
“We’re excited to deepen our partnership with Cresta as we enter our next phase of growth,” added Lapis CEO and Co-Founder Reg Manhas. “Their continued support will help us accelerate our expansion. With utilization and sequestration strategies working in parallel, Lapis is well positioned to develop customized decarbonization solutions more quickly for emitters.”
The recent passage of the U.S. budget reconciliation bill reaffirmed the 45Q Carbon Sequestration Tax Credit, highlighting continued bipartisan support for carbon management. This durable incentive further strengthens the economic case for building critical CCUS infrastructure and underpins Cresta’s investment thesis.
This marks one of the first major investments from Cresta’s Sust. Fund II, following its investment in Ocean Pacific last year. In addition to growth capital, Cresta brings strategic guidance and operational expertise to support Lapis’ execution, infrastructure development, and commercial partnerships.
About Cresta Fund Management
Cresta Fund Management (Cresta) is a Dallas-based private equity firm providing growth equity for sustainable and conventional energy infrastructure solutions for the industrial, logistics and agricultural sectors. With approximately $1.6 billion of assets under management, Cresta is led by a strong, operations-focused team with decades of experience in the energy and infrastructure industries. For more information, please visit crestafunds.com.
About Lapis Carbon Solutions
Lapis is the Partner of Choice for energy-intensive industries seeking to achieve their carbon goals through the delivery of carbon capture, utilization and storage (CCUS) projects. Located in Dallas and founded in 2020 by a team of industry-leading experts, Lapis is actively building a world-class portfolio of CCUS projects within North America. Lapis is backed by Cresta Fund Management, a Dallas-based investment manager with over $1.6 billion of assets under management specializing in middle-market sustainable infrastructure solutions. For more information about Lapis, please visit https://www.lapiscarbonsolutions.com/
Contact
Jessica Groshek
Cresta Fund Management
(945) 468-6564
Ellen Schultz
Lapis Carbon Solutions
(281) 450-8988