Strengthened balance sheet and advancements in engineering, technology solutions and vertically integrated business in 1Q 2026 support commercial ready development of first waste-to-value renewable fuels platform

HOUSTON, TX, May 27, 2026 (GLOBE NEWSWIRE) -- Abundia Global Impact Group, Inc. (NYSE:AGIG) ("Abundia" or the "Company"), a low-carbon energy solutions company focused on converting biomass and plastics waste into high-value low-carbon fuels, provides a business update highlighting continued execution across its engineering, technology integration, financing and commercialization initiatives during the first quarter of 2026.

"We are encouraged by the meaningful progress executing against our 2026 commercial strategy to support long-term scalable growth over the first quarter of 2026," said Ed Gillespie, Abundia Chief Executive Officer. "Our strategy is focused on integrating commercially validated technologies and engaging expert engineers and consultants in various fields with relevant capabilities to support Abundia's waste-to-value platform, designed to produce "Drop in" renewable fuels and chemicals."

"Importantly, this progress reflects the strength of our entire leadership team's abilities to execute on our large-scale project development strategies. Further, our industry recognized engineering and energy transition solutions bring immediate value by de-risking key elements of the project development cycle. With this de-risking strategy at the forefront, we are firmly advancing toward final investment decision on our first commercial plastics to renewable commodities facility, while carefully managing our resources to drive shareholder value," concluded Mr. Gillespie.

Key Business Developments

Burns & McDonnell Selected as Lead FEED Engineer

The appointment of lead engineering firm Burns & McDonnell to deliver the Front-End Engineering and Design (FEED) package also initiated Phase 2 of the commercial strategy for Abundia's first waste-plastics-to-renewable chemicals and fuels division.

Burns & McDonnell's FEED package drives the planned facility's front-end process design developing a replicable, modular foundation with detailed design and construction phases across multi-project execution.

Topsoe Partnership Secures HydroFlex^® Upgrading Technology

Abundia entered into a multi-facility licensing agreement with Topsoe to deploy its HydroFlex^® technology as the upgrading process in its plastics-to-renewable fuels technology stack.

Importantly, the Company's differentiated and de-risked renewable technology strategy combines two commercially operational and validated solutions. The front-end conversion technology is supplied through a licensed, strategic relationship with Alterra Energy while the licensed HydroFlex^® technology will be integrated as the back-end upgrading process designed to maximize yield consistency and commercial-grade renewable fuel quality.

Reinforcing the Company's competitive production platform, this agreement also establishes a regionally exclusive framework surrounding deployment of Topsoe's upgrading technology in combination with Alterra's conversion process within designated operating markets.

Completed Acquisition of RPD Technologies

Abundia completed the strategic acquisition of RPD Technologies ("RPD"), a scale-up project development firm specializing in plant design, engineering, construction, operations and consulting services across refining and renewable markets.

This tuck-in acquisition expands Abundia's vertically integrated business model by bringing internal scale with project development expertise while integrating RPD's established customer base, operational capabilities and an additional revenue-generating business vertical.

The Company believes the acquisition strengthens its competitive positioning by further penetrating the waste-to-value supply chain and enhancing Abundia's ability to execute and scale future projects.

Completed a $20 Million Registered Direct Financing

Abundia strengthened its capital position by completing a registered direct financing that generated gross proceeds of approximately $20 million.

Importantly, this capital raise is expected to support the execution of Abundia's targeted milestones in the commercial execution strategy through Final Investment Decision (FID) and long-term platform scalability.

Commercialization Strategy

Abundia's leadership team was assembled based on proven experience and meaningful resource capabilities to support the execution and development of the Company's first commercial renewable fuels platform. This team's combined expertise spans commercialization, project development, capital markets and energy transition infrastructure.

In parallel to the core competencies intrinsic to this management team, Abundia is benefiting from multiple external regional, macro and regulatory tailwinds supporting long-term demand for low-carbon fuels and renewable chemicals, including:

Closely managed regional access to fuels and chemicals
Global SAF adoption mandates
Expanded renewable chemical content requirements
Decarbonization initiatives
Continued displacement of fossil fuel-based products

Near-Term Target Milestones

Expected in 2Q 2026:

Complete the Process Design Package and establish final technical baseline for commercial development of Abundia's waste plastics-to-fuels plant
Finalize Cedar Port Phase 1 of the Abundia Innovation Center and R&D facility, establishing the Company's operations and technology development hub
Transition RPD to the new facility, to facilitate additional growth with larger project capabilities

Expected in 3Q 2026:

Advance the biomass pathway development and finalize deployment strategy focused on SAF production

Expected in 4Q 2026:

Burns & McDonnell completes FEED process design enabling EPC contract finalization
Achieve project readiness for first commercial waste plastics-to-fuels plant facility

Expected in 1Q 2027:

Completion of commercial grade technical design, capital management, regulatory readiness and commercial visibility
Targeting FID for first commercial waste plastics-to-fuels facility

About Abundia Global Impact Group, Inc.

Abundia Global Impact Group, Inc. (NYSE: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 about the Company's expectations with respect to the Acquisition, including statements regarding the benefits of the Acquisition, the implied valuation of the Company, the products offered by the Company and the markets in which it operates, and the Company's projected future results and market opportunities, as well as information with respect to the Company's future operating results and business strategy. 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) risks and uncertainties impacting the Company's business including, risks related to its current liquidity position and the need to obtain additional financing to support ongoing operations, the Company's ability to continue as a going concern, 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

Abundia Global Impact Group Provides Business Update Demonstrating Execution in Commercialization Strategy