Houston American Energy Announces Intent to Acquire RPD Technologies and Abundia Global Impact Group LLC

Houston American Energy Corp. (NYSE:HUSA) made public its strategic move towards acquiring two key entities – RPD Technologies, LLC and Abundia Global Impact Group LLC, as disclosed in a recent 8-K filing lodged on December 12, 2024. The transactions are currently non-binding and hinge on satisfactory due diligence completion by Houston American Energy.

The potential acquisitions aim to bolster Houston American Energy’s presence in the energy and technology domains, fostering a transformative shift towards innovation and diversification within the energy transition sector. The company shared in a press release that RPD Technologies brings a wealth of technical expertise and a solid revenue stream from collaborations with prominent petrochemical corporations. Simultaneously, Abundia Global Impact Group’s repertoire of renewable and recycling technology solutions serves as a complementary fit to Houston American Energy’s strategic roadmap.

With the proposed co-location of these entities at Abundia Global Impact Group’s Cedar Port site in Houston, Houston American Energy anticipates enhanced collaboration opportunities, resource optimization, and increased operational efficiencies.

The Letter of Intent pertaining to the acquisition of 100% of the membership interests of Abundia Global Impact Group LLC and RPD Technologies remains under negotiation, with terms slated for finalization by the first quarter of 2025. Both agreements are contingent on standard due diligence procedures.

RPD Technologies articulated that the collaboration with Houston American Energy and Abundia Global Impact Group signals an exciting chapter for their organization, foreseeing enhanced capabilities to deliver more complex projects efficiently for its clientele. The relocation to the Cedar Port Industrial Park is intended to facilitate expanded services and efficiencies, propelling added value for customers.

This strategic initiative follows Houston American Energy’s recent closure of a $2.5 million private placement in November 2024, underscoring the company’s dedication to structured growth initiatives under new leadership. These acquisitions are set to be instrumental in Houston American Energy’s long-term agenda to broaden its portfolio and solidify its global imprint.

Peter Longo, Chief Executive Officer of Houston American Energy, affirmed the company’s commitment to exploring new energy avenues, encompassing oil & gas, renewable energy, and energy transition technologies. He expressed optimism in the prevailing opportunities for innovation and growth, with a keen focus on enhancing shareholder value in this transformative phase.

Further details about Houston American Energy and the proposed acquisitions can be found on the company’s website or by reaching out to their representatives at (713) 222-6966.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Houston American Energy’s 8K filing here.

Houston American Energy Company Profile

Houston American Energy Corp., an independent oil and gas company, engages in the acquisition, exploration, exploitation, development, and production of natural gas, crude oil, and condensate. Its principal properties are located primarily in the Texas Permian Basin, the South American country of Colombia, and the onshore Louisiana Gulf Coast region.