moving on

Nonprofit leader to step down, focus on expanding Houston's hydrogen economy

Brett Perlman has been with the Center for Houston’s Future for seven years. Photo via LinkedIn

The leader of a local organization that supports strategic initiatives in energy, health care, and immigration has announced his succession plans.

Brett Perlman, CEO of the Center for Houston’s Future, wrote in a letter to the community, that he will be stepping down once a replacement has been named.

"I believe that our clean hydrogen project has now grown to the point where it requires my full time attention to achieve the vision of making Houston a global clean hydrogen leader," he writes.

"I would like to now focus my attention on creating a broad-based clean hydrogen industry network, on working to make sure our efforts lift all segments of our community and on seeking to attract more private investment to this sector," he continues in the letter. "These are big challenges and it will take a singular effort to achieve these goals."

The Center for Houston's Future has been an integral part of the city's momentum within clean hydrogen development. In October, President Biden and Energy Secretary Jennifer Granholm named the seven regions to receive funding, including the Gulf Coast's project, HyVelocity Hydrogen Hub, which will receive up to $1.2 billion — the most any hub will receive.

Perlman, who has been with the organization for seven years, writes that the center is ready for its next leader as it prepares to launch its new Houston 2050 project, which is intended to create "a new vision for a thriving and diverse region and which will build on a number of positive trends and projects in the region."

"I believe that the work we’ve done at the Center on the economic future of the Houston region will inspire a new civic leader to step forward with a fresh vision for how the Center can contribute to that future," Perlman writes.

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A View From HETI

Houston American Energy Corp. has acquired Abundia Global Impact Group, which converts plastic and certified biomass waste into high-quality renewable fuels. Photo via Getty Images.

Renewable energy company Houston American Energy Corp. (NYSE: HUSA) has acquired Abundia Global Impact Group, according to a news release.

Houston American reports that the acquisition will allow it to create a combined company focused on converting waste plastics into high-value, drop-in, low-carbon fuels and chemical products. It plans to move forward with Abundia’s plans for developing large-scale recycling projects, with a new facility previously announced for the Gulf Coast, located in Cedar Port Industrial Park, near the Baytown area of Houston.

New York-based Abundia used its proprietary pyrolysis process to convert plastic and certified biomass waste into high-quality renewable fuels. Its founder, Ed Gillespie, will serve as CEO of the combined company and will join HUSA’s board of directors. Peter Longo, who previously served as HUSA's CEO, will serve as chairman of the board. Lucie Harwood was named CFO and Joseph Gasik will serve as COO.

“The completion of this acquisition represents a pivotal transformation for HUSA,” Longo said in a news release. “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.”

The combined company plans to serve what it estimates is a multi-billion-dollar global demand for renewable fuels, Sustainable Aviation Fuel (SAF) and recycled chemical feedstocks, according to the news release.

“This is a landmark moment for Abundia and a major step forward for the renewable industry,” Gillespie added in the release. “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.”

Houston American Energy announced the deal in March. The company also closed a $4.42 million registered direct offering in January.

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