From Oil Driller to Plastics Recycler: Abundia's Texas Gambit

HOUSTON, TX – December 09, 2025 – In a move that signals a significant shift in the energy landscape, Abundia Global Impact Group, Inc. (AGIG) today announced it is advancing plans to build a large-scale plastics recycling facility in Texas. The company has officially given site notification to its technology partner, Alterra Energy, to begin the design process for deploying a plastics liquefaction system at its newly acquired Cedar Port Renewable Energy Complex.

This step marks a tangible escalation from a licensing agreement to the initial stages of constructing a commercial plant designed to convert discarded plastic waste into renewable fuels and chemical feedstocks. For Abundia, a company that until recently was an oil and gas explorer, this project represents a high-stakes bet on the future of the circular economy.

A High-Risk Corporate Transformation

The project is the centerpiece of Abundia's dramatic corporate reinvention. Formerly known as Houston American Energy Corp. (HUSA), a traditional oil and gas firm, the company rebranded as Abundia Global Impact Group (AGIG) on December 8, 2025, following a merger. This pivot from fossil fuel extraction to waste conversion is a bold strategic move aimed at capitalizing on the growing demand for sustainable energy and circular economic models.

"We have made significant strides in the transformation of our business with a view to becoming one of the largest producers of sustainable fuels and energy transition technologies," stated Ed Gillespie, Abundia Chief Executive Officer. "Advancing our licensing agreement with Alterra is a critical next step for the Company."

However, this transformation is fraught with financial risk. Abundia is not currently profitable, with recent financial statements showing a net income of -$7.03 million and short-term obligations that exceed its liquid assets. The company's stock has seen a significant decline over the past year, and the acquisition of its 25-acre Baytown site was partially funded by a $5 million convertible note, introducing potential dilution risk for shareholders. The venture is a classic high-risk, high-reward play, where success is contingent on executing the complex Cedar Port project and achieving profitability before capital runs out.

The Promise and Peril of Liquefaction Technology

At the heart of Abundia's plan is Alterra Energy's thermochemical liquefaction technology. The process uses heat in an oxygen-starved environment—a form of pyrolysis—to break down hard-to-recycle plastics like polyethylene and polypropylene into a synthetic crude oil. Alterra operates a commercial-scale facility in Akron, Ohio, that reportedly processes 40 to 50 tons of plastic daily, yielding over 10,000 gallons of liquid product.

Alterra’s technology has shown promise in recent trials. Global energy giant Neste has successfully processed thousands of tons of plastic-derived oil, including material from the Akron plant, and Viva Energy recently demonstrated its technical compatibility with existing refinery infrastructure in Australia. Alterra’s CEO, Fred Schmuck, framed the partnership as a major step forward in “Solving Plastic Pollution®.”

Despite these successes, the technology faces significant scrutiny. Environmental groups raise concerns about the high energy intensity of pyrolysis and the potential for emitting harmful pollutants, including carbon monoxide, nitrogen oxides, and dioxin precursors. Critics argue that labeling the process "advanced recycling" is misleading, pointing out that the resulting pyrolysis oil often requires dilution with petroleum-based products to be usable as a refinery feedstock. Furthermore, the process is not a silver bullet for all plastic waste; it cannot handle common plastics like PVC and PET, and it produces a solid byproduct, or char, that must be disposed of. The industry's public relations challenges were highlighted when community opposition over environmental and health concerns led Alterra to withdraw a proposal for a similar facility in Pennsylvania.

The Gulf Coast's New Energy Nexus

Abundia’s choice of location for its first commercial plant is strategically critical. The 25-acre Cedar Port Renewable Energy Complex is situated within the largest master-planned rail-and-barge-served industrial park in the United States. Located just 30 miles from downtown Houston, the site boasts unparalleled logistical advantages.

With direct access to two Class I railroads, barge terminals on Cedar Bayou, and major interstate highways, Abundia is positioning itself to efficiently aggregate vast quantities of plastic feedstock and distribute its finished products. Crucially, the facility is embedded within the heart of the U.S. Gulf Coast's sprawling energy and chemical infrastructure, providing proximity to potential upgrading partners and end markets for its low-carbon fuels and chemical feedstocks.

The company has laid out an ambitious timeline for the project, targeting a final investment decision (FID) in 2026, with construction beginning shortly after and commercial production slated for 2028. Corvus Construction has been tapped to develop the site, which will also include an R&D Innovation Center intended to validate other renewable energy technologies, signaling Abundia's broader ambitions in the energy transition space.

Navigating Market Headwinds and Regulatory Hurdles

Abundia is entering a market with powerful tailwinds. With global plastic production soaring and conventional recycling rates stagnating below 10%, the demand for scalable solutions is immense. A recent McKinsey report projected a 25.4% growth rate for the chemical recycling sector over the next decade. By aiming to produce drop-in fuels and chemical feedstocks, including potentially Sustainable Aviation Fuel (SAF), Abundia is targeting high-value markets supported by corporate and government decarbonization mandates.

However, the path to commercial success is lined with regulatory and environmental challenges. Any facility of this nature will face intense scrutiny from the Environmental Protection Agency (EPA) and the Texas Commission on Environmental Quality (TCEQ) regarding air emissions, water usage, and waste disposal. The public debate over whether pyrolysis constitutes true recycling or a form of waste-to-fuel incineration continues to intensify, creating potential roadblocks for permitting and social license to operate.

For Abundia, the journey from a press release to a fully operational, profitable facility is a long one. The company must prove not only that the technology can scale effectively and economically but also that it can meet increasingly stringent environmental standards and win public trust. The Cedar Port project will serve as a crucial test case, not just for Abundia's corporate survival, but for the broader viability of advanced plastics recycling as a cornerstone of a circular economy.