Houston American Shakes Up Executive Board After Abundia Acquisition

Dow Jones

Jul 02

By Katherine Hamilton

Houston American Energy has completed its acquisition of Abundia Global Impact Group and named its founder Ed Gillespie as chief executive of the combined company.

Gillespie will join the board of directors and lead the newly-combined company, which will be focused on converting waste plastics into low-carbon fuels and chemical products, Houston American said Tuesday.

Gillespie succeeds Peter Longo, who was appointed chief executive of Houston American last year and will now serve as chairman of the combined company. Longo had also been serving in a dual role as chief financial officer since February.

Abundia's chief financial officer, Lucie Harwood, and chief operating officer, Joseph Gasik, are stepping in to fill those roles at the combined company.

Management had agreed to the executive board shake-up during acquisition negotiations, according to a Securities and Exchange filing.

The acquisition is meant to leverage Houston American's public market platform to grow Abundia, scale its technology and develop recycling projects, including one planned for the U.S. Gulf Coast. Houston American shares rose 8% to $11.43 on Tuesday.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

July 01, 2025 14:57 ET (18:57 GMT)

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