Abundia Global Impact Group Provides Business Update Highlighting Continued Execution of Commercialization Strategy
Measurable progress, additional revenue stream and strong balance sheet represent disciplined and consistent execution of the company’s business strategy
HOUSTON, TX, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Abundia Global Impact Group, Inc. (NYSE American: AGIG) (“Abundia” or the “Company”), a low-carbon energy solutions company focused on converting biomass and plastics waste into high-value low-carbon fuels, publishes a business update following the release of financial results for the second quarter ended June 30, 2026, highlighting continued execution across its commercialization strategy, strengthened financial position and expansion of its growth opportunity through the recent acquisition of RPD Technologies, LLC (RPD).
“The company has had a busy and constructive start to 2026. We have made consistent progress on our business plan, expanded our balance sheet assets to over $48 million through strategic investments in infrastructure, technology, and operating assets, while creating a dual growth strategy to drive shareholder value into the second half of the year," said Ed Gillespie, Abundia Chief Executive Officer.
Mr. Gillespie continued, “At our Cedar Port facility, Phase 1 of the site development and construction activities are now coming to a close. Our subsidiary, RPD, has commenced its relocation into the facility and is completing final fit-out. Separately, Abundia’s new office building is also nearing completion and will house and provide support facilities for the construction management team responsible for the planned Phase 2 waste plastics-to-fuels facility. Additionally, as part of Phase 1, we brought many of the utilities to the site necessary for Phase 2 to enable a cost efficient construction approach to the site development.”
“On the RPD acquisition and its move to the new site and expanded facility, we believe this will accelerate the growth of our engineering, fabrication and process scale-up subsidiary, allowing the team to target larger contract opportunities. Importantly, with this new facility and its additional land and resources, Abundia has positioned RPD’s business to generate incremental revenue whilst we construct the waste plastics-to-fuels facility. It is also worth noting that RPD demonstrated strong project demand having invoiced $5.7 million in sales with revenue of $3.0 million during the first six months of 2026.”
“We are proud of the advancements we have made in 2026 on our waste plastics-to-fuels project. We have routinely completed milestones and secured a series of strategic commercial relationships that are outlined later in this update. Importantly, our team’s disciplined execution is demonstrated in the strength of our transformed balance sheet; we have made steady progress at Cedar Port, expanded our business with the acquisition of RPD and executed across core commercial milestones necessary to support Final Investment Approval (FIA) targeted for early 2027. Overall, we’ve aligned our strategic goals and commercialization milestones to reduce execution risk while strengthening the long-term value proposition of our business."
Year to Date 2026 Commercial Highlights
Secured Topsoe Partnership & License Agreement - Topsoe is recognized as one of the leading refining partners in the industry, and by securing this relationship, the Company derisks the technology strategy by using Topsoe’s operational and established HydroFlex upgrading technology.
Burns & McDonnell Selected as Lead Front End Engineer - Well-positioned to deliver the Front-End Engineering and Design (FEED) package for the waste-plastics-to-renewable products facility.
FEED is the next step following the recently completed baseline Process Design Package (PDP), to expand the facility’s engineering design and maintain steady progression in the Company’s commercial readiness and path to FIA.
Strategic Acquisition of RPD Technologies - Establishes diversification within Abundia's business plan with additional revenue opportunities through a customer base of key industry participants, a new state of the art facility, and a strong pipeline for future expansion.
Beyond providing an additional operating business and expanding the Company's revenue base, the acquisition strengthens Abundia's in-house engineering and technology scale-up capabilities.
Confirmed 10-Year Feedstock Supply for Waste to Fuels Facility - Abundia expects to finalize the supply agreement for 40,000 tons per year of plastic waste feedstock, representing approximately 50% of the expected requirement for Abundia's first Cedar Port plant.
Securing long-term feedstock supply builds upon the consistent progression of commercial and engineering components to bring plastics recycling projects to FIA.
Appointed Keith Berger as Chief Commercial Officer - Abundia has strengthened its team of disciplined operators with proven track records in all aspects necessary for company management, governance and execution of complex infrastructure and energy projects.
Delivered on Anchor PDP for First Waste Plastics Facility - Established the process design package (PDP), the foundation for technical engineering designs, positioning Abundia to execute the FEED engineering phase.
Diversifies Business Model with Completion of New RPD Facility - Achieved a key milestone that provides RPD with expanded operations to target larger and more complex projects while strengthening Abundia’s commercial strategy and diversifying revenue opportunities.
Commercialization Roadmap – 2026 Milestones on Schedule
| Milestone | Status |
| Appointment of FEED Partner | Completed |
| Selection of Upgrading Technology Partner | Completed |
| RPD Acquisition | Completed |
| RPD New Facility | Completed |
| CCO Appointment | Completed |
| Cedar Port Phase 1 | Completed |
| PDP | Completed |
| FEED | In Progress |
| EPC (Engineering, Procurement and Construction) | Planned |
| FIA | Target Early 2027 |
Abundia’s management team continues to execute against the commercialization milestones and roadmap established at the beginning of 2026, and second quarter’s financial results validate the balance sheet is supporting those objectives.
Second Quarter 2026 Financial Highlights (compared to Second Quarter 2025)
For comparative purposes, prior period financial information has been revised to reflect the retrospective combination of Abundia and RPD.
- Total assets increased to approximately $48.5 million representing the real assets related to ongoing development and construction of Abundia’s Innovation Center at Cedar Port, primarily due to the commencement of construction on the RPD Facility and the Company’s Corporate Headquarters. This phase of the construction in progress is scheduled to be completed in September 2026.
- Cash and cash equivalents of approximately $11.2 million at June 30, 2026.
- Total revenue of $2.0 million, compared to $0.5 million in the same prior year period, a meaningful increase following the integration of RPD.
- RPD’s engineering and process segment revenue grew to $1.8 million from $0.5 million in the prior year period. The significant increase in revenue was primarily driven by the completion of RPD’s relocation to the Company’s facility reflecting a return towards full operating capacity, while the prior year period reflects RPD’s business operating at a limited capacity during the relocation process.
- Abundia’s financial statements will now include RPD, acquired on April 1, 2026. U.S. GAAP requires prior-period results to be restated to include RPD from April 16, 2025, so all year-over-year comparisons above are like-for-like. The Company reports three operating segments: Renewables, Engineering & Process Development Services, and Legacy Oil & Gas, with RPD adding a new revenue stream as Abundia advances its renewable fuels commercialization strategy.
About Abundia Global Impact Group, Inc.
Abundia Global Impact Group, Inc. (NYSE American: AGIG), formerly Houston American Energy Corp., is a low-carbon energy company focused on converting waste into value. Headquartered in Houston, Texas, we are developing commercial-scale facilities that transform waste plastics and biomass into drop-in fuels and low-carbon chemical feedstocks. Our flagship project at Cedar Port positions Abundia at the center of the Gulf Coast’s energy and chemical infrastructure, with access to feedstock supply chains, upgrading partners, and end markets.
For more information, please visit www.abundiaimpact.com.
Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information generally is accompanied by words such as “believe,” “may,” “will,” “could,” “intend,” “expect,” “plan,” “predict,” “potential” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking information is based on management’s current expectations and beliefs and is subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking information in this press release includes, but is not limited to, statements pertaining to the effects and anticipated effects of the Company’s inclusion in the Russell Microcap® Index. Actual results may differ materially from those indicated by these forward-looking statements as a result of a variety of factors, including, but not limited to: (i) the inherent uncertainties associated with business strategy and ongoing operations, the Company’s current liquidity positions, the Company’s ability to maintain the listing of its common stock on NYSE American, the Company’s ability to predict its rate of growth, and (ii) other risks as set forth from time to time in the Company’s filings with the SEC.
Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are beyond the control of the Company.
With respect to the forward-looking information contained in this news release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. A complete discussion of the risks and uncertainties facing the Company’s business is disclosed in our Annual Report on Form 10-K and other filings with the SEC on www.sec.gov.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
Investors:
CORE IR
IR@abundiaglobalimpactgroup.com
