Lapis Carbon Solutions Market Research Report

Background

Company Overview

Lapis Carbon Solutions is a full-service Carbon Capture, Utilization, and Storage (CCUS) developer and operator, specializing in providing customized solutions for energy and emission-intensive industries. Established in November 2021 and headquartered in Dallas, Texas, the company leverages decades of technical, commercial, and project experience to deliver industrial-scale low-carbon solutions.

Mission and Vision

Lapis Carbon Solutions is committed to enabling industrial decarbonization through the capture, transportation, utilization, and storage of CO₂. The company's mission is to assist energy-intensive industries in achieving their carbon reduction goals by offering tailored CCUS projects that balance traditional capital project rigor with innovative, entrepreneurial approaches.

Industry Significance

As the global demand for low-carbon products increases, Lapis Carbon Solutions plays a pivotal role in facilitating the transition to a sustainable energy future. By providing comprehensive CCUS services, the company addresses the critical need for effective carbon management solutions in sectors such as chemicals, petrochemicals, power generation, and heavy industries.

Key Strategic Focus

Core Objectives

• Decarbonization Enablement: Assist industrial emitters in reducing their carbon footprint through effective CCUS solutions.

• Customized Solutions: Develop and implement tailored CCUS projects that meet the specific needs of each client.

• Operational Excellence: Ensure the safe, efficient, and compliant operation of all CCUS projects.

Areas of Specialization

• CO₂ Capture: Design and deploy technologies to capture CO₂ emissions from industrial processes.

• CO₂ Transportation: Establish secure and efficient methods for transporting captured CO₂ to storage or utilization sites.

• CO₂ Utilization: Identify and implement applications for captured CO₂, such as in the food and beverage industry.

• CO₂ Storage: Develop and manage permanent CO₂ storage solutions in geological formations.

Key Technologies Utilized

Lapis Carbon Solutions employs advanced technologies in CO₂ capture, transportation, and storage, ensuring compliance with EPA Class VI standards and industry best practices.

Primary Markets Targeted

The company focuses on energy-intensive industries, including chemicals, petrochemicals, power generation, cement, and steel production, providing them with effective decarbonization solutions.

Financials and Funding

Funding History

Lapis Carbon Solutions has secured significant investment to support its growth and project development. In July 2025, Cresta Fund Management LLC, a Dallas-based private equity firm, invested in the company through its Cresta Sustainable Fund II. This investment aims to accelerate the development of Lapis' project pipeline and expand into CO₂ utilization.

Total Funds Raised

While specific figures are not publicly disclosed, the partnership with Cresta Fund Management indicates substantial financial backing to support Lapis' ambitious growth plans.

Notable Investors

• Cresta Fund Management LLC: A Dallas-based private equity firm specializing in sustainable infrastructure investments.

Utilization of Capital

The capital raised is intended to:

• Accelerate the development of Lapis' anchor projects.

• Expand the broader pipeline of project opportunities.

• Support the company's expansion into CO₂ utilization.

Pipeline Development

Key Pipeline Candidates

1. Project Big River: Located in Galva, Illinois, this project involves capturing over 725,000 metric tons of CO₂ per year for sequestration near Big River Resources' ethanol plant.

2. Project Blue: Situated in El Dorado, Arkansas, this project aims to capture over 400,000 metric tons of CO₂ per year for sequestration beneath LSB Industries' facility.

3. Project Libra: Located in St. Charles Parish, Louisiana, this 14,000-acre storage site is strategically positioned in the industrial corridor of southeastern Louisiana.

Stages of Development

• Project Big River: The project is in the development phase, with plans for CO₂ sequestration near the ethanol plant.

• Project Blue: The project is in the development phase, focusing on CO₂ sequestration beneath the facility.

• Project Libra: The project is in the development phase, aiming to establish a significant CO₂ storage site in the region.

Target Conditions

Each project targets the permanent sequestration of CO₂ emissions from industrial sources, contributing to the reduction of greenhouse gas emissions in the respective regions.

Anticipated Milestones

• Project Big River: Anticipated to commence CO₂ sequestration operations in the near future, with ongoing development activities.

• Project Blue: Anticipated to begin CO₂ sequestration operations in the near future, with ongoing development activities.

• Project Libra: Anticipated to establish a significant CO₂ storage site, with ongoing development activities.

Technological Platform and Innovation

Proprietary Technologies

Lapis Carbon Solutions utilizes proprietary technologies in CO₂ capture, transportation, and storage, ensuring compliance with EPA Class VI standards and industry best practices.

Significant Scientific Methods

• Geological Assessments: Conducting detailed evaluations to identify suitable sites for CO₂ sequestration.

• Reservoir Modeling: Utilizing advanced modeling techniques to predict CO₂ behavior in storage sites.

• Monitoring Technologies: Implementing state-of-the-art monitoring systems to ensure the integrity and safety of CO₂ storage.

Leadership Team

Executive Profiles

• Reg Manhas: CEO & Co-Founder. With over 25 years of global experience, Reg has a background in engineering and law, specializing in managing complex above-ground risks and forging strategic partnerships.

• Chris Sears: CFO. A financial and investment executive with experience as a partner at an energy-focused private equity firm, Chris specializes in institutional investor fundraising and capital structuring.

• Jay Kolb: Chief Legal Officer. With extensive corporate and commercial experience in energy and infrastructure projects, Jay provides legal guidance for development, financing, and operational issues.

• Rusty Desormeaux: Chief Operating Officer. Bringing over 25 years of global expertise in the energy industry, Rusty has a proven track record in project development, asset management, and regulatory compliance.

• Lee Groves: EVP Growth Strategy & Co-Founder. With over 20 years of global exploration experience, Lee is recognized for technical, commercial, and project leadership, guiding international multidisciplinary teams to industry-leading exploration success.

• Eric Leigh: Chief Commercial Officer. With nearly two decades of experience in commodity trading and commercial midstream, Eric is responsible for identifying customized solutions for emissions-intensive partners.

• Jim Mullin: EVP, Utilization Strategy. With over 20 years of experience in CCUS, decarbonization, sustainability, and commodity risk management, Jim oversees utilization services, connecting emitters to utilization partners.

• Lauren Berry: VP Sustainability & External Affairs. With 20 years of experience translating corporate commitments into tangible community benefits, Lauren focuses on securing the company’s social license to operate through transparent engagement and investment in local priorities.

• Grant Everett: General Counsel. With over 15 years of legal experience, Grant focuses on corporate finance, private equity, corporate governance, securities, and mergers and acquisitions.

• Stijn Konings: Chief Geoscientist & Co-Founder. With over two decades of global experience in discovering and developing large gas fields, Stijn manages subsurface reservoir risks and ensures the delivery of Class VI permits for CCS projects.

• Derek Folger: VP Commercial & Co-Founder. With nearly 20 years of experience in new ventures.