02:59 PM EDT, 07/01/2025 (MT Newswires) -- Houston American Energy ( HUSA ) said Tuesday it closed the acquisition of Abundia Global Impact Group to create a combined company that will prioritize the conversion of waste plastics into low-carbon fuels and chemical products.

The combined entity's chief executive officer will be Ed Gillespie, founder of Abundia, according to a statement.

The newly created subsidiary of Houston American will focus on large-scale recycling projects, starting with a new facility planned for the US Gulf Coast, the company said.

Shares rose nearly 8% in recent trading.

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