Abundia Global Impact Group Partners with Alterra Energy
Abundia strengthens its vision by delivering site notification to Alterra Energy for the deployment of its innovative plastics liquefaction technology.
Significant Progress in Licensing Agreement
HOUSTON, TX — Abundia Global Impact Group, Inc. (NYSE American: AGIG) has made headway in its licensing agreement with Alterra Energy, focusing on developing a groundbreaking technology to convert discarded plastics into renewable fuels and chemicals. This advancement follows the crucial establishment of the project’s infrastructure through the acquisition of its Baytown Site and Cedar Port Innovation Center. Abundia has officially notified Alterra to commence the technology design process.
Optimizing Plastic Waste to Produce Renewable Products
Alterra’s technology platform has showcased effectiveness at its commercial facility, delivering strong performance across various post-consumer plastic types. Using a fully continuous and catalyst-free reactor, Alterra's design has proven reliable, producing high yield liquids that comply with the stringent requirements of downstream processors. The technology has consistently manufactured commercial-grade liquefied products, aligning perfectly with Abundia’s goal to transform waste into valuable renewable energy sources.
Comments from Company Executives
Ed Gillespie, CEO of Abundia, expressed pride in the progress made towards becoming a leading producer of sustainable fuels and energy solutions. He remarked, “Advancing our licensing agreement with Alterra is a pivotal step for our Company. After continuous efforts, we are eager to begin this journey with Alterra as we build our first commercial plant. Their platform is top-tier in the industry, and we are enthusiastic about our collaboration to see this project through.”
Fred Schmuck, CEO of Alterra, added, “Abundia's trust in our technology underlines a vital step in addressing the issue of plastic pollution. We are thrilled to working alongside Abundia and support this critical initiative.”
About Abundia Global Impact Group, Inc.
Abundia Global Impact Group, Inc. (NYSE American: AGIG), previously known as Houston American Energy Corp., is dedicated to the transition towards a low-carbon economy by transforming waste into energy. Based in Houston, Texas, the company is engaged in developing commercial facilities designed to convert waste plastics and biomass into usable fuels and eco-friendly chemical feedstocks. The flagship project at Cedar Port positions Abundia strategically within the Gulf Coast’s energy and chemical infrastructure, thus ensuring access to vital supply chains and market opportunities.
About Alterra Energy
As the developer and licensor of a unique thermochemical liquefaction process, Alterra Energy plays a crucial role in renewing discarded plastics. By converting waste back into its original constituents, the process minimizes reliance on new, fossil-derived materials for manufacturing fresh plastic products. The company’s facility in Akron, OH, is a full-scale, continuous operation, leading efforts to resolve plastic waste challenges globally.
Contact and Additional Information
For further details, visit www.abundiaimpact.com.
Investors Contact:
For inquiries, reach out to CORE IR at IR@abundiaglobalimpactgroup.com.
Frequently Asked Questions
What is Abundia Global Impact Group's primary focus?
Abundia is focused on turning waste into low-carbon fuels and chemicals, contributing to sustainable energy solutions.
Who is Abundia partnering with for recycling technology?
Abundia is partnering with Alterra Energy to advance its plastics liquefaction technology.
What is the significance of the Cedar Port project?
The Cedar Port project positions Abundia as a vital player in the Gulf Coast’s energy infrastructure, emphasizing its commitment to sustainability.
What technology is Alterra using?
Alterra employs a continuous, catalyst-free thermochemical liquefaction process that renews discarded plastics.
How can investors reach out to Abundia?
Investors can contact CORE IR via email at IR@abundiaglobalimpactgroup.com.
