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Solugen names Houston founder as new president of energy and water

Solugen has named James Begeal, with more than 25 years of experience in the chemical industry, as its new president of energy and water. Photo courtesy Solugen.

Houston-based biochemical producer Solugen has hired chemical industry veteran James Begeal as its new president of energy and water.

In his new position, Begeal leads the commercial strategy for the energy and produced-water sectors, “bringing our innovative chemistry directly to leading oil and gas operators, accelerating revenue growth, and deepening our commercial pipeline,” Solugen said in a news release.

Begeal has more than 25 years of experience in the chemical industry, including roles at oilfield technology company Baker Hughes and chemical company Clariant. In 2016, he co-founded NexGen Chemical Technologies, a Cypress-based provider of alternative natural-gas sweeteners. Begeal served as chief operating officer and chief technology officer at NexGen, which was acquired by League City-based Foremark Performance Chemicals in 2023. He then joined Foremark, which was acquired by investment firm CC Industries in 2024.

Begeal is no stranger to Solugen, having previously served as a company advisor.

“James is a builder — he knows what it takes to launch, scale, and win in this space,” says Solugen CEO Gaurab Chakrabarti. “We’re excited to have him bring that same builder’s mindset to Solugen as we double down on delivering solutions that meet our customers’ toughest challenges.”

The company also recently named Carlos Diaz as its new VP of strategy and international business. Diaz worked for 18 years at Baker Hughes and will lead Solugen's commercial expansion efforts into Latin America and beyond, according to a company representative.

Solugen, founded in 2016, raised $357 million in a series C venture capital round. The 2021 round catapulted Solugen into the unicorn category, meaning the private company is valued at more than $1 billion.

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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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