Cresta Fund Management and Lapis Energy LP align to develop CCS infrastructure to reduce greenhouse gas emissions

Source: press release, 10 January 2022

Lapis Energy CEO, Hamish Wilson
Lapis Energy CEO, Hamish Wilson (photo: Lapis Energy)

Cresta Fund Management and Lapis Energy LP have announced an agreement for Cresta to fund the Lapis’s origination, development and implementation of carbon capture and storage (CCS) and clean hydrogen projects that enable industrial de-carbonisation critical to the achievement of global net-zero goals.

Lapis Energy, a Dallas, Texas-based CCS company formed by a team of experienced energy transition professionals, brings together the strategic expertise of BluEnergy, a global strategic consultancy with expertise in CCS, clean hydrogen and the development of low carbon markets, and Viridis Resources, founded by former key members of Kosmos Energy’s industry-leading exploration team.

Under the chairmanship of Brian Maxted, former CEO of Kosmos, Lapis Energy will be led by experienced energy entrepreneur Hamish Wilson and supported by a senior management team including Glen Cayley, former VP of Shell UK and Brian Mitchener, former exploration head of BG.

“Lapis Energy brings together an exceptionally talented team of people with a sound plan to identify and develop CCS opportunities. We fundamentally believe that the permanent sequestration of CO2 has a critically important role to play in enabling Energy Transition. We are excited to align with Cresta Fund Management in playing a leading role in enabling delivery of the Net Zero challenge,” says CEO, Hamish Wilson. “Our alignment with Cresta allows Lapis to pursue a range of opportunities which I look forward to being able to provide more detail on in the near future.”

“We are pleased to partner with Lapis Energy on their global portfolio of CCS development opportunities,” says Chris Rozzell, Cresta’s managing partner. “The team brings a unique skillset and expertise to solving the complex decarbonisation challenges faced by heavy industry and petrochemical companies, many of which have limited near-term greenhouse gas mitigation alternatives. We are excited that our investment with Lapis Energy allows us to continue to build on our diverse portfolio of companies with sustainable business plans that materially reduce GHG emissions.”