Abundia Global Impact Group Appoints Burns & McDonnell as Front-End Engineer for Waste Plastics-to-Fuels Facility
Rhea-AI Summary
Abundia Global Impact Group (NYSE American: AGIG) appointed Burns & McDonnell as lead FEED engineer for its first waste-plastics-to-renewable products facility in Baytown, Texas. This advances Phase 2 development and supports the company’s target Final Investment Decision (FID) by end of 2026.
The Baytown site will host U.S. operating headquarters, an Innovation Center and R&D hub. The FEED engagement aims to de-risk technical design, capital and project finance, regulatory compliance, and the commercial ecosystem ahead of FID.
Positive
- Appointed Burns & McDonnell as FEED engineer to advance Phase 2
- Targeting a Final Investment Decision by end of 2026
- Baytown site designated as US operating headquarters and R&D hub
Negative
- None.
News Market Reaction
On the day this news was published, AGIG gained 13.06%, reflecting a significant positive market reaction. Argus tracked a peak move of +15.7% during that session. Argus tracked a trough of -2.9% from its starting point during tracking. Our momentum scanner triggered 14 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $14M to the company's valuation, bringing the market cap to $120M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 21 | Investor presentation | Positive | +0.3% | Updated investor deck outlining 2026 milestones and waste-to-fuels platform. |
| Jan 13 | Shareholder letter | Positive | +21.5% | Shareholder letter detailing 2025 accomplishments and 2026 commercialization plan. |
| Dec 15 | License expansion | Positive | -7.9% | Expanded Alterra rights to add U.S. plastics recycling capacity and revenue potential. |
| Dec 09 | Project advancement | Positive | -20.8% | Advanced Alterra technology deployment for first commercial plastics-to-fuels plant. |
Recent positive development news has produced mixed reactions, with two notable rallies and two sizable selloffs on broadly constructive updates.
Over the past few months, Abundia highlighted multiple steps toward commercializing its waste-plastics-to-fuels strategy. A Dec 9, 2025 update on advancing its Alterra technology agreement and a Dec 15, 2025 expansion of U.S. technology rights both framed long-term growth, yet saw negative price reactions. By contrast, the Jan 13, 2026 shareholder letter and Jan 21, 2026 investor presentation, detailing 2026 milestones and Baytown development plans, drew modest to strong gains. Today’s FEED appointment fits this sequence of execution updates on the Baytown/Cedar Port platform.
Market Pulse Summary
The stock surged +13.1% in the session following this news. A strong positive reaction aligns with Abundia’s pattern of sizable moves on execution updates, such as prior news with moves of +21.51% and -20.83%. The FEED appointment advances Phase 2 at the Baytown site and supports the company’s roadmap toward an FID target by 2026. Investors would still need to weigh capital needs, construction risk, and timelines to potential revenue around 2029 and beyond.
Key Terms
front-end engineering and design (feed) technical
feed technical
final investment decision (fid) financial
fid financial
AI-generated analysis. Not financial advice.
Company commences Phase 2 and drives toward a 2026 final investment decision on first commercial waste plastics-to-fuels facility
HOUSTON, TX, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Abundia Global Impact Group, Inc. (NYSE American: AGIG) (“Abundia” or the “Company”), a low-carbon energy solutions company focused on converting biomass and plastics waste into high-value low-carbon fuels, announces it has appointed Burns & McDonnell as its lead engineer to deliver the Front-End Engineering and Design (FEED) package for its first waste-plastics-to-renewable products recycling facility in Baytown, Texas. Completing this milestone is a material step in Abundia’s path to the commercialization of its renewable chemicals and fuels division.
The Company’s appointment of a FEED engineer represents significant progress as it embarks on Phase 2 of Abundia’s planned development at its Baytown site. This site will serve as its US operating headquarters, its Innovation Center and R&D facility, and as the core technology development hub for its waste-plastics-to-renewable chemicals and fuels operations. With the selection of its FEED engineer, Abundia is confident it will execute on plan to achieve its target Final Investment Decision (FID) by the end of 2026.
"The engagement of Burns & McDonnell is a significant milestone for the company as we commence Phase 2 planning for the waste-plastic-to-renewable products facility on our path to achieve FID, which is expected by the end of year," said Ed Gillespie, Abundia’s Chief Executive Officer. "We believe Burns & McDonnell’s engineering stature and proven track record increases the potential for orderly completion of this phase of our development. We anticipate that the FEED package delivered by Burns & McDonnell will position our team to successfully execute on these final phases and drive the project forward to FID.”
"Our collaboration with Abundia marks a significant step toward converting plastics waste into high-value low-carbon fuels,” says Kevin Syphard, Vice President in the Oil, Gas, and Chemicals Group at Burns & McDonnell. “Our focus on the front-end process design is critical for first-of-a-kind facilities like this, as it establishes a predictable foundation for the detailed design and construction phases of project execution.”
Abundia’s strategic approach to developing a vertically integrated renewable fuels and chemicals producer prioritizes de-risking the core components of its infrastructure. To meet this principle, the Company is collaborating with Burns & McDonnell, whose experience in FEED processes will be a key contributor to this risk mitigation strategy. The FEED process is critical to reaching a successful FID while satisfying the Company’s four de-risking pillars: commercially ready technical design, capital and project finance security, regulatory compliance, and a well-positioned commercial ecosystem for final deployment of refined, low-carbon fuel output.
About Abundia Global Impact Group, Inc.
Abundia Global Impact Group, Inc. (NYSE American: AGIG), formerly Houston American Energy Corp., is a low-carbon energy company focused on converting waste into value. Headquartered in Houston, Texas, we are developing commercial-scale facilities that transform waste plastics and biomass into drop-in fuels and low-carbon chemical feedstocks. Our flagship project at Cedar Port positions Abundia at the center of the Gulf Coast’s energy and chemical infrastructure, with access to feedstock supply chains, upgrading partners, and end markets.
For more information, please visit www.abundiaimpact.com.
About Burns & McDonnell
Working from more than 75 offices around the world, Burns & McDonnell designs and builds critical infrastructure. The Burns & McDonnell family of companies — driven by engineers, construction professionals, architects, planners, technologists and scientists — deliver projects grounded in safety and a desire to make a difference. Founded in 1898, Burns & McDonnell is
Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information generally is accompanied by words such as “believe,” “may,” “will,” “could,” “intend,” “expect,” “plan,” “predict,” “potential” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this press release includes, but is not limited to, statements about the Company’s ability to comply with the terms and conditions as set forth in the License Agreement and the Company’s ability to successfully produce renewable fuels and chemicals. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including, but not limited to: (i) risks and uncertainties impacting the Company’s business including, risks related to its current liquidity position and the need to obtain additional financing to support ongoing operations, the Company’s ability to continue as a going concern, the Company’s ability to maintain the listing of its common stock on NYSE American, the Company’s ability to predict its rate of growth, and (ii) other risks as set forth from time to time in the Company’s filings with the U.S. Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are beyond the control of the Company.
With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing the Company’s business is disclosed in our Annual Report on Form 10-K and other filings with the SEC on www.sec.gov.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Investors:
CORE IR
IR@abundiaglobalimpactgroup.com
FAQ
What did AGIG announce about its Baytown plastics-to-fuels project on February 3, 2026?
How does the Burns & McDonnell FEED appointment affect AGIG's timeline to FID (AGIG)?
What role will the Baytown site serve for Abundia (AGIG)?
Why is the FEED process important for AGIG's plastics-to-fuels facility (AGIG)?
Who at Burns & McDonnell commented on the AGIG engagement and what was said?
