Houston American Energy Acquires Abundia Global Impact Group, Creating a Publicly Traded Innovator in Low-Carbon Fuels
Houston American Energy (NYSE American: HUSA) has completed the acquisition of Abundia Global Impact Group (AGIG), transforming into a company focused on converting waste plastics into low-carbon fuels and chemical products. The combined entity will be led by AGIG's founder Ed Gillespie as CEO, who joins the Board of Directors alongside Chairman Peter Longo.
The strategic acquisition aims to leverage HUSA's public market platform to accelerate Abundia's growth and scale its proprietary pyrolysis technology. The company plans to develop large-scale recycling projects, with an initial facility planned for the U.S. Gulf Coast. This location was chosen for its strategic advantages, including access to waste feedstock, downstream customers, workforce, and transportation options.
The transaction structure involves AGIG becoming a wholly-owned subsidiary of HUSA through an exchange of AGIG's outstanding membership interests for newly authorized HUSA common stock. The leadership team includes Lucie Harwood as CFO and Joseph Gasik as COO. The combined company targets the growing global market for renewable fuels, Sustainable Aviation Fuel (SAF), and recycled chemical feedstocks.
Houston American Energy (NYSE American: HUSA) ha completato l'acquisizione di Abundia Global Impact Group (AGIG), trasformandosi in un'azienda focalizzata sulla conversione di rifiuti plastici in carburanti a basse emissioni di carbonio e prodotti chimici. La società risultante sarà guidata da Ed Gillespie, fondatore di AGIG, che assume il ruolo di CEO e si unisce al Consiglio di Amministrazione insieme al Presidente Peter Longo.
L'acquisizione strategica mira a sfruttare la piattaforma di mercato pubblico di HUSA per accelerare la crescita di Abundia e ampliare la sua tecnologia proprietaria di pirolisi. L'azienda prevede di sviluppare progetti di riciclaggio su larga scala, con un impianto iniziale pianificato nella Gulf Coast degli Stati Uniti. Questa localizzazione è stata scelta per i suoi vantaggi strategici, tra cui l'accesso alle materie prime di scarto, ai clienti a valle, alla forza lavoro e alle opzioni di trasporto.
La struttura della transazione prevede che AGIG diventi una controllata interamente posseduta da HUSA tramite uno scambio delle partecipazioni societarie di AGIG con nuove azioni ordinarie autorizzate di HUSA. Il team di leadership include Lucie Harwood come CFO e Joseph Gasik come COO. La società combinata punta al mercato globale in crescita per i carburanti rinnovabili, il Sustainable Aviation Fuel (SAF) e le materie prime chimiche riciclate.
Houston American Energy (NYSE American: HUSA) ha completado la adquisición de Abundia Global Impact Group (AGIG), transformándose en una empresa centrada en convertir plásticos residuales en combustibles bajos en carbono y productos químicos. La entidad combinada estará dirigida por Ed Gillespie, fundador de AGIG, quien asumirá el cargo de CEO y se unirá al Consejo de Administración junto con el presidente Peter Longo.
La adquisición estratégica busca aprovechar la plataforma de mercado público de HUSA para acelerar el crecimiento de Abundia y escalar su tecnología propietaria de pirólisis. La compañía planea desarrollar proyectos de reciclaje a gran escala, con una instalación inicial prevista en la costa del Golfo de EE.UU.. Esta ubicación fue seleccionada por sus ventajas estratégicas, incluyendo el acceso a materias primas residuales, clientes downstream, fuerza laboral y opciones de transporte.
La estructura de la transacción implica que AGIG se convierta en una subsidiaria de propiedad total de HUSA mediante un intercambio de las participaciones sociales en circulación de AGIG por acciones comunes recién autorizadas de HUSA. El equipo directivo incluye a Lucie Harwood como CFO y Joseph Gasik como COO. La empresa combinada apunta al creciente mercado global de combustibles renovables, combustible de aviación sostenible (SAF) y materias primas químicas recicladas.
Houston American Energy (NYSE American: HUSA)가 Abundia Global Impact Group(AGIG)를 인수 완료하며 폐플라스틱을 저탄소 연료 및 화학제품으로 전환하는 회사로 탈바꿈했습니다. 합병된 회사는 AGIG의 창립자 Ed Gillespie가 CEO로서 이끌며, 이사회에는 의장 Peter Longo와 함께 참여합니다.
이번 전략적 인수는 HUSA의 공개 시장 플랫폼을 활용하여 Abundia의 성장 가속화와 독자적인 열분해 기술의 확장을 목표로 합니다. 회사는 대규모 재활용 프로젝트를 개발할 계획이며, 초기 시설은 미국 걸프 코스트에 설립될 예정입니다. 이 위치는 폐기물 원료, 하류 고객, 인력 및 운송 옵션에 대한 접근성 등 전략적 이점 때문에 선택되었습니다.
거래 구조는 AGIG가 HUSA의 완전 자회사로 편입되며, AGIG의 기존 멤버십 지분을 새로 승인된 HUSA 보통주와 교환하는 방식입니다. 경영진에는 Lucie Harwood CFO와 Joseph Gasik COO가 포함되어 있습니다. 합병된 회사는 재생 연료, 지속 가능한 항공 연료(SAF), 재활용 화학 원료의 성장하는 글로벌 시장을 목표로 합니다.
Houston American Energy (NYSE American : HUSA) a finalisé l'acquisition d'Abundia Global Impact Group (AGIG), se transformant en une entreprise axée sur la conversion des plastiques usagés en carburants à faible teneur en carbone et produits chimiques. L'entité combinée sera dirigée par Ed Gillespie, fondateur d'AGIG, qui devient PDG et rejoint le conseil d'administration aux côtés du président Peter Longo.
Cette acquisition stratégique vise à exploiter la plateforme de marché public de HUSA pour accélérer la croissance d'Abundia et développer sa technologie propriétaire de pyrolyse. La société prévoit de lancer des projets de recyclage à grande échelle, avec une première installation prévue sur la côte du Golfe des États-Unis. Ce site a été choisi pour ses avantages stratégiques, notamment l'accès aux matières premières issues des déchets, aux clients en aval, à la main-d'œuvre et aux options de transport.
La structure de la transaction prévoit qu'AGIG devienne une filiale en propriété exclusive de HUSA via un échange des intérêts membres en circulation d'AGIG contre des actions ordinaires nouvellement autorisées de HUSA. L'équipe de direction inclut Lucie Harwood en tant que CFO et Joseph Gasik en tant que COO. La société combinée vise le marché mondial en expansion des carburants renouvelables, du carburant d'aviation durable (SAF) et des matières premières chimiques recyclées.
Houston American Energy (NYSE American: HUSA) hat die Übernahme von Abundia Global Impact Group (AGIG) abgeschlossen und sich in ein Unternehmen verwandelt, das sich auf die Umwandlung von Kunststoffabfällen in kohlenstoffarme Kraftstoffe und chemische Produkte konzentriert. Das kombinierte Unternehmen wird von AGIG-Gründer Ed Gillespie als CEO geleitet, der dem Vorstand zusammen mit Vorsitzendem Peter Longo beitritt.
Die strategische Übernahme zielt darauf ab, die öffentliche Marktplattform von HUSA zu nutzen, um das Wachstum von Abundia zu beschleunigen und deren proprietäre Pyrolysetechnologie zu skalieren. Das Unternehmen plant die Entwicklung groß angelegter Recyclingprojekte, wobei eine erste Anlage an der US-Golfküste vorgesehen ist. Dieser Standort wurde aufgrund seiner strategischen Vorteile ausgewählt, darunter Zugang zu Abfallrohstoffen, nachgelagerten Kunden, Arbeitskräften und Transportmöglichkeiten.
Die Transaktionsstruktur sieht vor, dass AGIG eine hundertprozentige Tochtergesellschaft von HUSA wird, indem die ausstehenden Mitgliedsanteile von AGIG gegen neu genehmigte Stammaktien von HUSA getauscht werden. Zum Führungsteam gehören Lucie Harwood als CFO und Joseph Gasik als COO. Das kombinierte Unternehmen zielt auf den wachsenden globalen Markt für erneuerbare Kraftstoffe, nachhaltigen Flugkraftstoff (SAF) und recycelte chemische Rohstoffe ab.
- None.
- Transaction involves share dilution through issuance of new HUSA common stock
- Significant operational transition from traditional energy to renewable fuels business
Insights
HUSA's acquisition of Abundia transforms it from an oil company to a renewables player targeting the growing sustainable fuels market.
Houston American Energy's acquisition of Abundia Global Impact Group marks a complete strategic pivot from traditional energy operations into the renewable fuels sector. This transaction fundamentally transforms HUSA's business model, redirecting it toward the growing market for sustainable aviation fuel (SAF) and recycled chemical feedstocks.
The acquisition positions HUSA to leverage Abundia's pyrolysis technology, which converts waste plastics into valuable drop-in fuels and chemicals. This represents a strategic entry into the circular economy - addressing both plastic waste challenges and the increasing demand for lower-carbon fuel alternatives.
The leadership change is significant, with Abundia's founder Ed Gillespie taking the CEO position, indicating this is more than a mere portfolio addition but rather a comprehensive business transformation. The company's near-term focus on developing a large-scale facility in the U.S. Gulf Coast is strategically sound, leveraging the region's existing petrochemical infrastructure, waste feedstock availability, and downstream customer access.
For HUSA shareholders, this represents both opportunity and risk - gaining exposure to the growing renewable fuels market while undertaking a significant business model transformation. The transaction aligns with major industry trends as energy companies increasingly diversify toward sustainable alternatives amid mounting environmental pressures and regulatory incentives for decarbonization.
HOUSTON, TX, July 01, 2025 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) (“HUSA” or the “Company”) has completed its acquisition of Abundia Global Impact Group, LLC (“AGIG”), creating a leading company focused on converting waste plastics into high-value, drop-in low-carbon fuels and chemical products.
The combined company will be led by Abundia’s founder, Ed Gillespie, who will serve as Chief Executive Officer and will join the Board of Directors. This strategic acquisition leverages HUSA’s public market platform to accelerate Abundia’s growth, scale its technology and execute on its plan to develop large-scale recycling projects, beginning with a new facility planned for the U.S. Gulf Coast.
“The completion of this acquisition represents a pivotal transformation for HUSA,” said Peter Longo, Chairman of the combined company. “Abundia has a commercially ready solution for converting waste into valuable fuels and chemicals, with a backlog of development opportunities utilizing proprietary technologies and key industry partnerships. This transaction gives HUSA shareholders a ready-made platform and project pipeline for future value generation as the fuel and chemical industries accelerate their adoption of low-carbon solutions and sustainable aviation fuel.”
CEO of the combined company Ed Gillespie commented, “This is a landmark moment for Abundia and a major step forward for the renewable industry. Joining forces with HUSA and entering the public capital markets positions us to accelerate growth, scale our technology and expand our influence within the renewable and recycling industries. I am proud of the hard work and determination of both the AGIG and HUSA teams to finalize this transaction. We look forward to delivering shareholder value and critical technologies to reduce carbon emissions.”
Key Highlights of the Combined Company
- Targeting a Multi-Billion Dollar Market: Directly serves the growing global demand for renewable fuels, Sustainable Aviation Fuel (SAF), and recycled chemical feedstocks
- Proprietary, Commercially Ready Technology: Utilizes a proven pyrolysis process to convert waste plastics into valuable, drop-in fuels and chemicals
- Project Development: Near-term plans to develop a large-scale project in the U.S. Gulf Coast, which is a strategic location with access to waste feedstock and downstream customers, a large workforce and multiple transportation options
Key Highlights of the Transaction
- Proven Executive Leadership: The combined company will be led by:
- Ed Gillespie, Chief Executive Officer and Board Member
- Peter Longo, Chairman of the Board
- Lucie Harwood, Chief Financial Officer
- Joseph Gasik, Chief Operating Officer
- Structure: Abundia Global Impact Group, a Delaware Limited Liability Company, will become a wholly-owned subsidiary of HUSA through an exchange of outstanding membership interests of AGIG for newly authorized shares of HUSA common stock.
About Houston American Energy Corp.
Houston American Energy Corp. is a renewable energy company focused on converting waste materials into valuable low-carbon fuels and chemicals. Through its proprietary pyrolysis technology, the company addresses the global plastic waste crisis while supplying high-demand products like sustainable aviation fuel and recycled feedstocks to the energy and chemical industries.
Cautionary Note Regarding Forward-Looking Information:
This news 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,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” 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 news release includes, but is not limited to, statements about the future growth of the Company in the renewable energy industry and plans for new project development and facilities, the Company’s expectations with respect to the completed acquisition of AGIG (the “Acquisition”), including statements regarding the benefits of the Acquisition, the implied valuation of the Company, the products offered by the Company and the markets in which it operates, and the Company’s projected future results and market opportunities, as well as information with respect to the Company’s future operating results and business strategy. 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, the Company’s ability to hire, retain and motivate employees, the effects of competition on the Company’s business, including price competition, technological, regulatory and legal developments, developments in the economy and financial markets, risks related to the Company’s ability to realize some or all of the anticipated benefits from the Acquisition, and (iii) 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.
For additional information, view the company’s website at www.houstonamerican.com or contact Houston American Energy Corp. at (713) 222-6966.
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