Cresta invests in alternative energy refueling stations

The investment accelerates the development of the necessary infrastructure enabling the supply of low-emission fuel for the transport industry

DALLAS, May 22, 2024 /PRNewswire/ — Cresta Fund Management LLC (Cresta), a private equity firm investing in low-emission infrastructure and solutions, today announced that it has made a controlling investment in Ocean Pacific (OP), a producer of compressed natural gas (CNG) and stations alternative fuels. OP has previously provided engineering, design and construction services to third-party CNG station operators, and with the investment, Cresta will expand its capabilities and begin commercializing and operating its own fuel stations to accelerate the decarbonization of the transportation industry.

“Our investment in Ocean Pacific fits perfectly into our strategy of seeking opportunities to build low-emission molecular infrastructure that will provide a solution to the energy transformation,” he said. Chris Rozzell, Managing Partner at Cresta. “OP’s leading position in the CNG market, combined with our capital and operational and development expertise, will significantly increase the availability of alternative fuel alternatives.”

Based on CaliforniaPO’s management team has over 15 years of history in designing over 400 CNG stations in collaboration with leading partners and maintains an extensive network in the trucking and transportation industry. Building on these relationships, PO will develop solutions that take into account companies’ decarbonization goals and the fuel needs of truck fleets. CNG is an economical and readily available, clean, lower emission alternative fuel for the trucking industry. To further reduce emissions, renewable natural gas (RNG) can be used as fuel for CNG engines, providing significant emissions reductions over the lifecycle of transport fleets.

“We are thrilled to be working with Cresta,” he commented Timothy Nelligan, CEO of Ocean Pacific. “This investment will not only provide the financial resources needed to accelerate our growth, but will also bring valuable strategic insights from a team that deeply understands the renewable fuels landscape. Together, we will make significant progress in expanding our RNG and hydrogen infrastructure, providing cleaner, affordable fuel options for our customers.”

The investment supports the growing demand for alternative, clean fuels and confirms the growing recognition of the importance of alternative fuels in the energy transformation.

About Cresta Fund Management
Cresta Fund Management (Cresta) is: Dallasprivate equity firm providing growth capital for sustainable and conventional energy infrastructure solutions for the industrial, logistics and agricultural sectors. From approx $1.6 billion assets under management, Cresta is led by a strong, operations-focused team with many years of experience in the energy and infrastructure industries. More information can be found at crestafunds.com.

contact
Jessica Groshek
Cresta Fund Management
(email protected)
(945) 468-6564

SOURCE Cresta Fund Management LLC