Texan CCS start-up secures private equity backing

Texan carbon capture and storage (CCS) start-up Lapis Energy has secured funding support from private group Cresta Fund Management, the companies said on January 10.

Cresta has agreed to fund Lapis' organisation, development and implementation of CCS and clean hydrogen projects that can help industries decarbonise, the companies said. Based in Dallas, Lapis was formed by CCS consultancy BluEnergy and Viridis Resources, created by former members of oil producer Kosmos Energy's exploration team. Its chairman is Brian Maxted, former Kosmos CEO.

"Lapis Energy brings together an exceptionally talented team of people with a sound plan to identify and develop CCS opportunities," CEO Hamish Wilson said. "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."