#United States #Houston #recycling #Alterra #Abundia

Abundia Global Impact Group: A New Era in Recycling Technology

Abundia Global Impact Group, Inc. (NYSE American: AGIG), based in Houston, Texas, is making waves in the recycling sector by securing additional technology rights from Alterra Energy. This landmark agreement enables Abundia to establish and operate two new plastics recycling sites across the United States, significantly increasing the company's revenue potential and contribution to sustainability efforts.

The newly secured rights allow Abundia to harness Alterra's advanced recycling technology, which is designed to convert waste plastics into valuable renewable fuels and chemical products. According to Ed Gillespie, Abundia's CEO, the expansion is poised to transform up to 160,000 tons of waste plastic annually into approximately 105,000 tons of high-value products. At current market prices, the revenue generated from each site could reach over $200 million per year. This substantial potential reflects Abundia's ambition to become one of the leading global producers in the renewable fuels and chemicals market.

The partnership between Abundia and Alterra is not a new one. In 2021, they entered a comprehensive Technology License and Services Agreement that permitted Abundia to utilize Alterra's liquefaction technology to design and build facilities capable of transforming discarded plastics into renewable hydrocarbons. Initially, this agreement included rights for four sites in Europe and the UK, and one site in the U.S. The latest update further solidifies their cooperation by adding two more U.S. sites, with the collective capacity to handle an added 320,000 tons of waste plastic per year.

This joint venture signifies a critical step towards more sustainable practices in the recycling industry, particularly in the transition from fossil feedstocks to renewable sources. Valerio Coppini, Chief Commercial Officer of Alterra, emphasized the partnership's significance in reshaping the industry landscape. He stated, “By advancing this collaboration, we are accelerating the replacement of fossil feedstocks in the U.S. Together, we are setting a higher standard for technology performance and delivery within the industry.”

Abundia's commitment to sustainability aligns perfectly with Alterra's mission to tackle plastic pollution effectively. Both companies aim to create a circular economy for plastics, impacting the environment positively while also generating substantial economic returns from recovered resources. Abundia's flagship project at Cedar Port is strategically located within the Gulf Coast's energy and chemical infrastructure, granting it access to essential supply chains and market networks.

The expansion is not without challenges, as Abundia acknowledges potential hurdles, including financial stability and compliance with evolving regulations. However, the company remains optimistic about its growth trajectory and strategic partnerships. As Abundia embarks on this new phase, it positions itself at the forefront of innovation in waste management, environmental responsibility, and renewable energy.

In summary, Abundia Global Impact Group's recent developments herald a significant evolution in the plastics recycling industry. By harnessing advanced recycling technologies, the company is poised to make substantial strides in both profitability and environmental sustainability. As they expand their operations, all eyes will be on Abundia to lead the way in transforming waste into high-value renewable resources, paving the path for a greener future. For more details, please visit Abundia's website.