Houston American Energy Corp. plans to acquire Abundia Global Impact Group, which will build its first advanced plastic recycling facility in the Cedar Port Industrial Park in Baytown. Photo via Getty Images

Houston American Energy Corp. (NYSE: HUSA), an oil and gas exploration and production company, has entered into a definitive agreement to acquire New York-based Abundia Global Impact Group LLC, which specializes in converting waste into high-value fuels and chemicals.

HUSA is expected to close on the AGIG acquisition early in the second quarter and says the deal aims to provide value through “innovation in the renewable energy sector,” according to a news release.

As part of the deal, HUSA will acquire 100% of AGIG’s issued and outstanding units. HUSA will also issue to AGIG’s members a number of shares of HUSA common stock that will equal 94 percent of HUSA’s aggregate issued and outstanding common stock at the time of the closing. The company also closed a $4.42 million registered direct offering in January.

“AGIG has developed a commercially ready project for converting waste into valuable fuels and chemicals, and this transaction gives HUSA shareholders a ready-made platform and project pipeline for future value generation,” Peter Longo, CEO of Houston American Energy Corp, said in a news release. “We are witnessing the growing momentum of the fuel and chemical industry’s transformation into alternative solutions like recycled chemical alternatives and the highly publicized sustainable aviation fuel market.”

AGIG will build its first advanced plastic recycling facility in the Cedar Port Industrial Park in the Baytown area of Houston. The facility will represent the first phase of a growth plan aimed at scaling AGIG’s technologies for producing renewable fuels and chemicals from waste, according to the company. The Cedar Port facility will serve as a hub for a five-year development plan and will be designed to scale production capacity.

"We are excited to use this platform to support the deployment and development of our suite of technologies that will assist in the evolution of fuel, chemical and waste markets, providing commercial alternatives and sustainable products,” AGIG CEO Ed Gillespie said in a news release.

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Supreme Court confronts what to do with growing pile of nuclear waste

The Debate Continues

The Supreme Court will hear arguments Wednesday in a fight over plans to store nuclear waste at sites in rural Texas and New Mexico.President Joe Biden's administration and a private company with a license for the Texas facility appealed a ruling by the 5th U.S. Circuit Court of Appeals that found that the Nuclear Regulatory Commission exceeded its authority in granting the license. The outcome of the case will affect plans for a similar facility in New Mexico roughly 40 miles away.

On this issue, President Donald Trump's administration is sticking with the views of its predecessor, even with Texas Gov. Greg Abbott, a Republican ally of Trump, on the other side.

The push for temporary storage sites is part of the complicated politics of the nation’s so far futile quest for a permanent underground storage facility.

Here's what to know about the case.

Where is spent nuclear fuel stored now?

Roughly 100,000 tons of spent fuel, some of it dating from the 1980s, is piling up at current and former nuclear plant sites nationwide and growing by more than 2,000 tons a year. The waste was meant to be kept there temporarily before being deposited deep underground.

A plan to build a national storage facility northwest of Las Vegas at Yucca Mountain has been mothballed because of staunch opposition from most Nevada residents and officials.

The Nuclear Regulatory Commission has said that the temporary storage sites are needed because existing nuclear plants are running out of room. The presence of the spent fuel also complicates plans to decommission some plants, the Justice Department said in court papers.

Where would it go?

The NRC granted the Texas license to Interim Storage Partners LLC for a facility that could take up to 5,000 metric tons of spent nuclear fuel rods from power plants and 231 million tons of other radioactive waste. The facility would be built next to an existing dump site in Andrews County for low-level waste, such as protective clothing and other material that has been exposed to radioactivity. The Andrews County site is about 350 miles west of Dallas, near the Texas-New Mexico state line.

The New Mexico facility would be in Lea County, in the southeastern part of the state near Carlsbad. The NRC gave a license for the site to Holtec International.

The licenses would allow for 40 years of storage, although opponents contend the facilities would be open indefinitely because of the impasse over permanent storage.

Political opposition is bipartisan

Republicans and Democrats, environmental groups and the oil and gas industry all oppose the temporary sites.

Abbott is leading Texas' opposition to the storage facility. New Mexico Democratic Gov. Michelle Lujan Grisham also is opposed to the facility planned for her state.

A brief led by Republican Texas Sen. Ted Cruz on behalf of several lawmakers calls the nuclear waste contemplated for the two facilities an “enticing target for terrorists” and argues it's too risky to build the facility atop the Permian Basin, the giant oil and natural gas region that straddles Texas and New Mexico.

Elected leaders of communities on the routes the spent fuel likely would take to New Mexico and Texas also are opposed.

What are the issues before the court?

The justices will consider whether, as the NRC argues, the states forfeited their right to object to the licensing decisions because they declined to join in the commission’s proceedings.

Two other federal appeals courts, in Denver and Washington, that weighed the same issue ruled for the agency. Only the 5th Circuit allowed the cases to proceed.

The second issue is whether federal law allows the commission to license temporary storage sites. Opponents are relying on a 2022 Supreme Court decision that held that Congress must act with specificity when it wants to give an agency the authority to regulate on an issue of major national significance. In ruling for Texas, the 5th Circuit agreed that what to do with the nation’s nuclear waste is the sort of “major question” that Congress must speak to directly.

But the Justice Department has argued that the commission has long-standing authority to deal with nuclear waste reaching back to the 1954 Atomic Energy Act.

CERAWeek 2025 returns to Houston featuring U.S. energy policy leaders

coming soon

CERAWeek by S&P Global will bring together energy leaders from around the world for its 43rd annual conference next week, March 10–14, at the Hilton Americas Houston.

U.S. Secretary of Energy Chris Wright and U.S. Secretary of the Interior Doug Burgum will headline the conference with plenary addresses focused on strengthening global energy security.

Wright’s company, Liberty Energy, is also an investor in Houston-based geothermal company Fervo Energy. Burgum also chairs the newly formed White House National Energy Dominance Council and was previously the governor of North Dakota.

"We are very pleased to welcome Secretary Wright to CERAWeek as he leads the Department of Energy and guides U.S. energy policy with the tremendous array of responsibilities that affect American national and energy security," Daniel Yergin, conference chair and Vice Chairman of S&P Global said in a news release. "His insights on the future of U.S. energy policy will be an important and timely contribution to critical dialogues at this year's conference about the technological, market and geopolitical factors that are shaping the global energy landscape."

Yergin added in a separate release: "As the cabinet secretary responsible for federal lands and resources and chairman of the National Energy Dominance Council, (Burgum’s) views on U.S. energy policy and security have tremendous impact. Moreover, he brings in-depth experience of having been governor of a major energy-producing state. His participation will be a timely and important addition to the critical dialogues taking place at this year's conference."

This year, CERAWeek will zero in on the theme “Moving Ahead: Energy strategies for a complex world,” and will consider how changes in policy, technology and geopolitics are reshaping the energy landscape.

Some of the speakers include:

  • Mike Wirth, chairman and CEO of Chevron Corp.
  • Laurence D. Fink, founder, chairman and CEO of BlackRock
  • Murray Auchincloss, CEO of bp plc
  • Vicki Hollub, president and CEO of Oxy
  • Ryan Lance, chairman and CEO of ConocoPhillips
  • Wael Sawan, CEO of Shell
  • Lorenzo Simonelli, chairman and CEO of Baker Hughes
  • John Hess, CEO of Hess Corporation
  • Scott Kirby, CEO of United Airlines
  • And many others

CERAWeek's key themes this year tackle power, grid and electrification, renewables and low-carbon fuels, the capital transition, innovation technology, climate and sustainability and others topics.

The CERAWeek Innovation Agora track, which is the program's deeper dive into technology and innovation will feature thought leadership "transformational technology platforms in energy and adjacent industries ranging across AI, decarbonization, low carbon fuels, cybersecurity, hydrogen, nuclear, mining and minerals, mobility, automation, and more," according to the release.

The "Agora Hubs" will return and will focus on climate, carbon and new energies.

The 2024 CERAWeek addressed topics like funding the energy transition, geothermal energy, AI and more. Registration for 2025 is available now.

9 must-attend Houston energy events for March 2025

WHERE TO BE

Editor's note: March is a busy month for energy industry professionals in Houston, with a full calendar of meetups, summits, and, of course, CERAWeek. Below, we've rounded up the energy transition events you won't want to miss this month. Mark your calendars and register accordingly.

March 3-4 — Industrial Immersive

The Industrial Immersive community connects industrial, energy, engineering tech professionals making investment, strategy and tactical decisions, or building, scaling, and executing pioneering XR/ 3D/ simulations, digital twin, reality capture, edge/ spatial computing, AI/ ML, connected workforce & IIoT projects within their enterprise. This forum will bring together industry professionals to share first-hand experience, insight and advice for implementing and scaling immersive tech programs in enterprise operations.

This event begins Monday, March 3, at Westin Memorial City. Click here to register.

March 3-5 — Global Energy Meet 2025

The aim of this conference is to bring together all the key stakeholders interested in Fossil and Renewable Energy Sources to share and discuss advances and developments in these fields. It is a three-day event which features energy experts, academicians, business executives and engineers to showcase recent trends, strategies and challenges of energy systems. It creates a platform to focus on advancing new energy paradigms for energy systems and global energy issues.

This event begins Monday, March 3, at the Doubletree by Hilton. Click here to register.

March 4 — Low Carbon Investment Summit

The Low Carbon Investment Summit 2025, hosted by Flathead Forge, Energy Tech Nexus, and MetroNational, connects investors with breakthrough decarbonization technologies.The event will showcase innovative companies in decarbonization including water treatment, critical minerals, and energy transition sectors while connecting innovative companies with corporate VCs, family offices, and HNW investors. Space is limited.

This event begins Tuesday, March 4, at 11 am at MetroNational's Innovation District. Click here to register.

March 4-6 — THRIVE Energy Conference

The Thrive Energy Conference by Daniel Energy Partners is for key energy professionals collaborating on research-driven insights and trends key to developing a pathway to a “thriving” energy future. This unique event combines leadership from public and private global energy companies as well as investors under a professional yet fun atmosphere.

This event begins Tuesday, March 4, at Minute Maid Park. Click here to register.

March 10-14 — CERAWeek 2025

The foremost annual gathering in the energy sector returns to Houston March 10-14, 2025. Themed "Moving Ahead: Energy strategies for a complex world," CERAWeek 2025 will focus on the challenges ahead for energy security, supply, and climate ambitions. More than 10,000 participants from over 2,050 companies across 80 countries will convene in Houston for this ambitious event. CERAWeek comprises three platforms: the Executive Conference, the Innovation Agora, and Partner Programs. We'll dive into comprehensive CERAWeek recommendations in future articles.

This event begins Monday, March 10. Click here to register.

March 13: Energy Tech Market

Energy Tech Market features founders and industry experts sharing cutting-edge innovations, trends, and insights in energy technology. Organized by Energy Tech Nexus in collaboration with the Scale Up Hub Houston program and TechNL, this event brings together thought leaders and innovators to explore the latest developments across various sectors of the energy industry.

This event begins Thursday, March 13, at 10 am at GreenStreet. Click here to register.

March 18-20 — The Connected Worker: Energy Summit

The Connected Worker: Energy Summit provides the opportunity for you to get hands-on with the essential solutions you need to empower your frontline workforce, hear real-word case studies from energy and utility leaders, and network with your industry peers. Learn how to: create a safer work environment, boost compliance and improve efficiencies through automation, make your data mobile and reduce rework, downtime and time to decision; improve workforce mobility and maximize the use of data to continuously enhance process and asset performance; and much more.

This event begins Tuesday, March 18, at 8:45 am at The Westin Galleria. Click here to register.

March 26 — Bots And Brews Spring 2025

Bots & Brews is the H-town robotics, drones, geospatial, data & AI meetup, hosted by the Energy Drone & Robotics Coalition and the co-hosts: Industrial Digital Twin Forum, Industrial Reality Capture Forum & Industrial AI Nexus: Automate. Everyone in the energy and industrial robotics/drone/data & AI community are invited to come together to catch up and talk about real-world solutions and deployments.

This event is Wednesday, March 26, from 5 to 7:45 pm at The Cannon West. Click here to register.

March 31-April 2 — World Hydrogen North America 2025

The U.S. Department of Energy announced the Hydrogen Energy Earthshot initiative to reduce the cost of clean hydrogen by 80% within a decade. Canada has also released its Hydrogen Strategy, which aims to make the country a global leader in hydrogen production, use, and exports. Seize the opportunity to connect with industry leaders from across the hydrogen value chain, fostering long-term business partnerships and exploring potential collaborations. Engage with prominent off-takers, both nationally and internationally, and gain first-hand insights into the latest projects shaping the future of hydrogen in the USA and Canada.

This event begins Monday, March 31, at the Marriott Marquis. Click here to register.