power deal

Houston American Energy closes acquisition of New York low-carbon fuel co.

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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A View From HETI

ENGIE will supply wind power for Oracle's AI data centers. Photo via engie-na.com

Houston-based renewable energy company ENGIE North America has made a deal to supply up to 568 megawatts of renewable electricity for tech giant Oracle's projects in Texas.

The power will come from ENGIE’s wind resources serving the Electric Reliability Council of Texas (ERCOT) grid. Oracle is developing data centers in Abilene and Shackelford, Texas, according to its website.

The Oracle deal is part of ENGIE’s efforts to bring substantial new electricity supply to the grid. In the past six years, ENGIE has developed 12 gigawatts of new renewable generation and battery storage capacity in North Americas, equaling $11 billion in capital, according to the company.

"Our customers are looking for reliable, scalable energy solutions that can support long-term growth," Anne-Laure Chassanite, interim CEO of ENGIE North America, said in a news release. "ENGIE has invested heavily in developing new generation resources across North America, and we're pleased to support Oracle as it continues to expand its operations in Texas. These agreements reflect the strength of our portfolio and our ability to deliver customized energy solutions that help customers meet their business objectives.”

Computer technology and cloud computing company Oracle is working towards its goal to match 100 percent of AI data center electricity use with carbon-free electricity by 2035.

"Oracle is taking a responsible approach to meeting the energy needs of our growing AI and cloud operations in Texas — investing in carbon-free electricity without shifting costs to consumers," Julia Robin, head of infrastructure planning and sourcing for Oracle Cloud Infrastructure, added in the release. "Our agreements with ENGIE advance Oracle's goal to match 100 percent of our AI data center electricity use with carbon-free electricity by 2035, while supporting long-term economic growth with no cost impact to the state of Texas.”

ENGIE also recently won the 2026 Green Power Leadership Award in the Market Innovation category for its work advancing 24/7 renewable energy solutions. The awards honor individuals and companies advancing sustainability and renewables in the energy industry through innovation and leadership.

The company has inked major deals to supply renewable energy to other major companies like Meta, Daikin and others.

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