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Robotaxi put it in park, events not to miss, and other things to know in Houston energy transition news

Cruise pauses in Houston and beyond — and more things to know this week. Photo via Cruise/Facebook

Editor's note: It's a new week — start it strong with three quick things to know in Houston's energy transition ecosystem: events not to miss, robotaxis take a break, and more.

Events this week

Don't miss these two events.

  • November 7-8: Hydrogen North America 2024 will host the hydrogen sector's thought leaders for a two-day event. Learn more.
  • November 8 — The Houston Innovation Awards will honor the city's startups, entrepreneurs, and ecosystem, including energy tech innovators. Learn more.

Cruise hits the brakes

Cruise launched in Houston in October. Photo courtesy of Cruise

Self-driving taxi service, Cruise, which recently launched in Houston, has put it in park for the time being, as TechCrunch reported last month.

The company's California permit was rescinded, and Cruise announced a national pause on its service in a statement.

"The most important thing for us right now is to take steps to rebuild public trust. Part of this involves taking a hard look inwards and at how we do work at Cruise, even if it means doing things that are uncomfortable or difficult," reads the statement. "In that spirit, we have decided to proactively pause driverless operations across all of our fleets while we take time to examine our processes, systems, and tools and reflect on how we can better operate in a way that will earn public trust. This is not related to any new on-road incidents, and our supervised AV operations will continue."

Meet LYB — and its latest sustainability deal

LyondellBasell has rebranded as LYB. Photo via lyondellbasell.com

LyondellBasell has rebranded as LYB, revealing a new logo, tagline, and visual identity.

“With our new strategy firmly in place, our employees are adopting new ways of working to generate innovative, value-enhancing solutions to support our goals,” Peter Vanacker, LYB's CEO, says in the release.

The Dutch company, whose U.S. headquarters is in Houston, also recently announced that it has purchased a 25 percent stake in a joint venture that seeks to accelerate advancements in plastic recycling.

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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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