Houston American Energy to Acquire Abundia Global to Penetrate the Renewable Fuel and Chemical Market

Oil and gas company Houston American Energy Corp. (HUSA) announced a definitive agreement to acquire Abundia Global Impact Group (AGIG), a company specializing in converting waste into renewable fuels and chemicals. The acquisition supports HUSA’s goal of broadening its portfolio and growing its presence in the renewable energy industry. The deal, pending shareholder approval, will grant AGIG’s members 94% ownership of HUSA’s outstanding stock.

AGIG plans to build its first advanced plastic recycling facility in Cedar Port, Texas, as part of a structured growth strategy. The acquisition provides HUSA with a platform to enter the multi-billion-dollar renewable fuels market. Both companies will focus on integrating operations, with the acquisition expected to close early in Q2.

“The AGIG acquisition aligns with our strategy to position HUSA into the multi-billion dollar renewable energy market” said Peter Longo, CEO of Houston American Energy Corp. “AGIG has developed a commercially ready project for converting waste into valuable fuels and chemicals, and this transaction gives HUSA shareholders 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.”