CHARLOTTE, NC, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Abundia Global Impact Group (Abundia), a technology company focused on circular solutions and sustainability, announced today it has entered into definitive agreements to acquire a 25-acre site from TGS Cedar Port Partners. The site is located within Cedar Port Industrial Park, in the Baytown area of Houston Texas. The strategically positioned property will serve as the foundation for Abundia's first plastics recycling plant, leveraging Alterra's cutting-edge Recycling Technology, which Abundia has a licensing agreement to operate. The facility will transform plastic waste into pyrolysis oil, a valuable feedstock source replacing fossil in the manufacturing of circular Polymers and Chemicals.
Abundia envisions the site as its U.S. hub for recycling, renewable, and circular technologies, as well as a center for co-location with complementary technology development. These efforts will not only support Abundia's vision but also contribute to the broader energy transition within the renewable and petrochemical industries.
"Since its formation, Abundia has strived to not only find and create the best technology solutions for the renewable industry, but also, to ensure that we locate these solutions in strategic locations. Cedar Port Industrial Park is a world class enterprise capable of providing Abundia with an ideal location with use of established distribution channels via its rail, shipping and road networks. This accessibility made the site a standout for Abundia's first recycling and renewable hub”, stated Ed Gillespie, Chief Executive Officer of Abundia Global Impact Group. "We are excited to begin development in 2025, with plans to rapidly expand alongside Alterra to other locations across the US and Europe.”
The terms of the agreement were not announced publicly.
About Abundia Global Impact Group
Abundia is on a mission to transition the world into a decarbonized future. Through the deployment of its suite of technologies, we turn plastic and certified biomass waste into high-quality renewable fuels, energy, and chemical products, providing sustainable solutions that meet the growing demand for scalable and sustainable solutions within established global markets, thus facilitating the transition into a decarbonized future.
About Cedar Port
TGS Cedar Port Industrial Park, located in Chambers County near Houston, Texas, is the largest master-planned, rail-and-barge-served industrial park in the U.S. and offers industry-leading access for distribution, manufacturing, and terminal operations. Situated across the Houston Ship Channel from Bayport and Barbours Cut Container Terminals, Cedar Port spans approximately 15,000 acres of land which is approximately 25 feet above sea level with heavy utilities and industrial and commercial transportation infrastructure. Greenfield sites are delivered "turn-key” and are fully entitled with utilities, heavy haul roadways, rail access, drainage, and detention. The Park is served by TGS Cedar Port Railroad, a Class III railroad, which is served daily by the Union Pacific and the BNSF railroads. Cedar Port currently has over 25 million square feet of industrial and manufacturing warehouses, and TGS Cedar Port Partners, L.P. currently owns 3.8 million square feet of these warehouses with a long-term hold investment strategy.
Contact Info
Sophie McComb,
[email protected], for Abundia
SOURCE: Abundia Global Impact Group
