Houston American Energy Corp. Announces Results of Special Meeting of Stockholders
Houston American Energy Corp. (NYSE American: HUSA) held a special stockholders meeting on April 24, 2025, where shareholders overwhelmingly approved the company's proposed acquisition of Abundia Global Impact Group (AGIG) with over 90% of votes in favor. AGIG specializes in converting waste into high-value fuels and chemicals.
The acquisition represents HUSA's strategic move into the renewable energy sector, aiming to diversify its portfolio and expand its global footprint. The company expects to close the AGIG acquisition by the end of Q2 2025. According to CEO Peter Longo, this acquisition positions HUSA in the multi-billion-dollar renewable energy market, providing shareholders with a ready-made platform and project pipeline for future value generation in recycled chemical alternatives and sustainable aviation fuel markets.
Houston American Energy Corp. (NYSE American: HUSA) ha tenuto un'assemblea speciale degli azionisti il 24 aprile 2025, durante la quale la maggioranza degli azionisti ha approvato con oltre il 90% dei voti favorevoli l'acquisizione proposta della Abundia Global Impact Group (AGIG). AGIG è specializzata nella trasformazione dei rifiuti in combustibili e prodotti chimici ad alto valore aggiunto.
L'acquisizione rappresenta una mossa strategica di HUSA nel settore delle energie rinnovabili, con l'obiettivo di diversificare il proprio portafoglio e ampliare la propria presenza globale. La società prevede di completare l'acquisizione di AGIG entro la fine del secondo trimestre del 2025. Secondo il CEO Peter Longo, questa acquisizione posiziona HUSA nel mercato delle energie rinnovabili da miliardi di dollari, offrendo agli azionisti una piattaforma consolidata e una pipeline di progetti per generare valore futuro nei mercati dei prodotti chimici riciclati e dei carburanti sostenibili per l'aviazione.
Houston American Energy Corp. (NYSE American: HUSA) celebró una junta especial de accionistas el 24 de abril de 2025, donde los accionistas aprobaron abrumadoramente, con más del 90% de los votos a favor, la adquisición propuesta de Abundia Global Impact Group (AGIG). AGIG se especializa en convertir residuos en combustibles y productos químicos de alto valor.
La adquisición representa el movimiento estratégico de HUSA hacia el sector de energías renovables, con el objetivo de diversificar su portafolio y expandir su presencia global. La compañía espera cerrar la adquisición de AGIG antes de finalizar el segundo trimestre de 2025. Según el CEO Peter Longo, esta adquisición posiciona a HUSA en el mercado de energías renovables de miles de millones de dólares, proporcionando a los accionistas una plataforma lista y una cartera de proyectos para generar valor futuro en los mercados de químicos reciclados y combustibles sostenibles para la aviación.
Houston American Energy Corp. (NYSE American: HUSA)는 2025년 4월 24일 특별 주주총회를 열어 주주들이 90% 이상의 찬성으로 Abundia Global Impact Group (AGIG) 인수를 압도적으로 승인했습니다. AGIG는 폐기물을 고부가가치 연료 및 화학물질로 전환하는 전문 기업입니다.
이번 인수는 HUSA가 재생 에너지 분야로 전략적으로 진출하는 것으로, 포트폴리오 다각화와 글로벌 입지 확대를 목표로 합니다. 회사는 2025년 2분기 말까지 AGIG 인수를 완료할 계획입니다. CEO Peter Longo에 따르면, 이번 인수는 HUSA를 수십억 달러 규모의 재생 에너지 시장에 위치시키며, 주주들에게 재활용 화학물질 대체품과 지속 가능한 항공 연료 시장에서 미래 가치를 창출할 수 있는 완성된 플랫폼과 프로젝트 파이프라인을 제공합니다.
Houston American Energy Corp. (NYSE American : HUSA) a tenu une assemblée générale extraordinaire des actionnaires le 24 avril 2025, où les actionnaires ont approuvé à une écrasante majorité, avec plus de 90 % des voix en faveur, l'acquisition proposée de Abundia Global Impact Group (AGIG). AGIG est spécialisée dans la conversion des déchets en carburants et produits chimiques à haute valeur ajoutée.
Cette acquisition représente une démarche stratégique de HUSA dans le secteur des énergies renouvelables, visant à diversifier son portefeuille et à étendre sa présence mondiale. La société prévoit de finaliser l'acquisition d'AGIG d'ici la fin du deuxième trimestre 2025. Selon le PDG Peter Longo, cette acquisition positionne HUSA sur le marché des énergies renouvelables, qui pèse des milliards de dollars, offrant aux actionnaires une plateforme opérationnelle et un pipeline de projets pour générer de la valeur future dans les marchés des alternatives chimiques recyclées et des carburants durables pour l'aviation.
Houston American Energy Corp. (NYSE American: HUSA) hielt am 24. April 2025 eine außerordentliche Hauptversammlung ab, bei der die Aktionäre mit über 90 % der Stimmen den vorgeschlagenen Erwerb der Abundia Global Impact Group (AGIG) überwältigend genehmigten. AGIG ist spezialisiert auf die Umwandlung von Abfällen in hochwertige Kraftstoffe und Chemikalien.
Die Übernahme stellt einen strategischen Schritt von HUSA in den Bereich der erneuerbaren Energien dar, mit dem Ziel, das Portfolio zu diversifizieren und die globale Präsenz auszubauen. Das Unternehmen plant, die Übernahme von AGIG bis Ende des zweiten Quartals 2025 abzuschließen. Laut CEO Peter Longo positioniert diese Übernahme HUSA im milliardenschweren Markt für erneuerbare Energien und bietet den Aktionären eine fertige Plattform sowie eine Projektpipeline zur zukünftigen Wertschöpfung in den Bereichen recycelte chemische Alternativen und nachhaltige Flugkraftstoffe.
- 90% shareholder approval indicates strong investor confidence in the acquisition
- Entry into multi-billion-dollar renewable energy market
- Acquisition includes commercially ready waste-to-fuel conversion technology
- Diversification of business portfolio into sustainable energy sector
- Ready-made platform and project pipeline for future growth
- Integration costs and execution risks associated with the acquisition
- Time gap until acquisition closure (Q2 2025) may impact immediate value realization
Insights
HUSA shareholders overwhelmingly approved acquisition of waste-to-fuel company AGIG, marking strategic diversification into renewable energy markets.
Houston American Energy Corp's strategic acquisition of Abundia Global Impact Group (AGIG) received over 90% approval from voting shareholders, signaling strong investor confidence in this diversification move. This transaction represents a significant strategic shift for HUSA, traditionally focused on oil and gas, into the renewable energy sector.
AGIG specializes in converting waste into high-value fuels and chemicals, with HUSA's CEO specifically highlighting opportunities in recycled chemical alternatives and the sustainable aviation fuel market. The acquisition provides HUSA with what's described as a "commercially ready project" and a pipeline for future development, potentially accelerating their entry into this space.
The transaction is expected to close by the end of Q2 2025, providing a clear timeline for implementation. While the press release doesn't disclose financial details of the acquisition, management frames this as entering a "multi-billion-dollar renewable energy market," suggesting substantial growth potential.
This strategic diversification comes amid broader energy transition trends, with traditional energy companies increasingly expanding their portfolios to include renewable and alternative energy sources. The overwhelming shareholder support indicates investors recognize the potential strategic value in this business model expansion.
The acquisition provides HUSA with immediate technological capabilities in the waste-to-value sector without requiring lengthy internal R&D investment, potentially accelerating their revenue diversification timeline while reducing development risk.
HOUSTON, TX, April 28, 2025 (GLOBE NEWSWIRE) -- Houston American Energy Corp. (NYSE American: HUSA) (“HUSA” or the “Company”), today announced the results of the Company’s special meeting of stockholders (the “Meeting”) held virtually on April 24, 2025.
At the Meeting, all of the matters put forward before the Company’s stockholders for consideration and approval, as set out in the Company’s definitive proxy statement dated April 11, 2025, were approved by the requisite number of votes cast at the meeting.
Of most importance, the HUSA shareholders approved the Company’s proposed acquisition of Abundia Global Impact Group (AGIG) with over
HUSA and AGIG will continue developing a structured integration and execution plan, with additional updates to come as the acquisition advances toward closing. HUSA currently anticipates closing on the AGIG acquisition by the end of second quarter of 2025.
“The AGIG acquisition aligns with our strategy to position HUSA into the multi-billion-dollar renewable energy market” said Peter Longo, CEO of HUSA. AGIG has developed a commercially ready project for converting waste into valuable fuels and chemicals, and this transaction gives HUSA stockholders a ready-made platform and project pipeline for future value generation. We are witnessing the growing momentum of the fuel and chemical industry’s transformation into alternative solutions like recycled chemical alternatives and the highly publicized sustainable aviation fuel market.”
About HUSA
HUSA is an independent oil and gas company focused on the development, exploration, acquisition, and production of natural gas and crude oil properties. Our principal properties, and operations, are in the U.S. Permian Basin. Additionally, we have properties in the Louisiana U.S. Gulf Coast region. For more information, please visit: https://houstonamerican.com/.
About Abundia Global Impact Group
AGIG’s mission is to transition the world into a decarbonized future through the deployment of its technologies, which convert plastic and certified biomass waste into high-quality renewable fuels, energy, and chemical products, providing sustainable solutions that meet the growing demand within established global markets, thus facilitating the transition into a decarbonized future. AGIG is preparing to build its first advanced plastic recycling facility in Cedar Port, Texas. The facility represents the first phase of a structured, capital-efficient growth plan aimed at scaling and deploying AGIG’s technologies for producing renewable fuels and chemicals from waste.
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 applicable securities laws. 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 not limited to, statements regarding HUSA’s expected financial condition and performance, the current and projected market, and growth opportunities for 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 our 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.
FAQ
When will HUSA complete the acquisition of Abundia Global Impact Group?
What percentage of HUSA shareholders approved the AGIG acquisition?
What is the strategic benefit of HUSA acquiring AGIG?
What technology does AGIG bring to HUSA's portfolio?
