Abundia Secures Additional Rights to Alterra Energy's Technology for Two More Recycling Sites

Abundia Global Impact Group has secured additional rights to Alterra Energy's Advanced Recycling technology to develop and operate two more plastics recycling sites in the United States. "This has greatly expanded Abundia's opportunity in the U.S.," stated Ed Gillespie, CEO. "With each additional site, we have the potential to convert up to 160,000 tons of waste plastic per year to approximately 105,000 tons of high-value renewable fuel and chemical product. At today's prices, this amount of product has the potential to generate over $200 million in revenue annually per site. The additional U.S. sites support Abundia in its quest to become one of the largest producers of renewable fuels and chemicals globally." In 2021, Abundia and Alterra entered into a definitive Technology License and Services Agreement, under which Alterra granted Abundia a license to Alterra's liquefaction technology, to design, build, operate and maintain a plant and related processes at designated sites to transform discarded plastic into renewable hydrocarbons. The original license granted rights to Abundia to operate four sites in Europe and the UK, and one site in the U.S. In the updated agreement, Abundia has secured the rights to two additional sites in the U.S., with potential capacity of up to an additional 320,000 tons per year of waste plastic in the United States. This positive development reinforces the shared commitment between Alterra and Abundia to accelerating discarded plastic solutions in the United States and underscores the country's central role in their joint growth strategy.