Tecnoglass, Inc. (NYSE: TGLS) a multinational producer of high-end aluminum and vinyl windows and architectural glass for the global residential and commercial end markets, announced that its ongoing advancements in its commitment to sustainability and carbon neutrality are reflected in having achieved carbon neutrality for years 2022 and 2023. This milestone underscores the company’s ongoing commitment to sustainability and its proactive efforts to reduce its environmental impact.

In 2023, Tecnoglass had previously declared its goal to become a carbon-neutral company, supported by significant investments in energy efficiency, through projects such as upgrading generators and implementing cogeneration systems; which despite an increase of production, amounted to total GHG emissions across all scopes of 390.411 tCO2eq/year. These initiatives highlight Tecnoglass’ unwavering dedication to reducing its carbon footprint and enhancing operational sustainability.

To offset its carbon footprint, Tecnoglass voluntarily offset Scope 1 and 2 emissions for the years 2022 and 2023 by acquiring carbon credits issued by two projects located in Colombia, certified through the Cercarbono (Certified Carbon Standard) program. These projects were carefully selected for their ability to reduce, eliminate, or decrease greenhouse gas emissions, and their certifications are verified and validated by IQNet (International Certification Network) in its Colombian division, ICONTEC.

“Our commitment to sustainability is a strategic priority for Tecnoglass,” said José Manuel Daes, CEO of Tecnoglass. “We recognize the importance of taking proactive steps to combat climate change and are proud to be at the forefront of sustainability efforts in our industry. As part of our sustainability roadmap, we have set ambitious science-based targets to further reduce our carbon footprint and promote sustainable practices throughout our value chain. This achievement is just one step in our long-term plan to drive positive change and contribute to a more sustainable future.”

Tecnoglass remains committed to implementing sustainable practices throughout its operations and supply chain, with the ultimate goal of becoming a net-zero emissions company by 2050. The Company will continue to invest in renewable energy projects, energy efficiency initiatives, and the continuous improvement of its production processes to maintain its carbon-neutral status and work towards its long-term sustainability targets.

Texas-based Garrett Metal Detectors, in collaboration with CIS Seguridad, has announced the deployment of 19 PD 6500i walk-through metal detectors in 15 locations across Colombia. This acquisition by Aeronáutica Civil de Colombia (Aerocivil) follows a competitive tender process won by Garrett.

The PD 6500i metal detectors meet various international airport security standards, including TSA and ECAC certifications. These detectors are commonly used in airports, hotels, government buildings, and major sporting events globally.

Garrett secured the contract partly due to Aeronáutica Civil’s previous positive experiences with the PD 6500i’s reliability, detection capabilities, and ease of use. The widespread adoption of the PD 6500i in airports worldwide is attributed to its compliance with numerous security standards.

Leo Zelenkevich, International Security Sales Director at Garrett, commented: “Garrett offers effective detection solutions along with remote management tools that enhance airport security checkpoints.”

The PD 6500i, combined with the iC Module for remote management and monitoring, is designed for airport screening environments. Its extensive certifications provide users confidence in the security of Garrett checkpoints.

Airports receiving Garrett Detectors:

• Golfo De Morrosquillo Airport. Located in Santiago De Tolú (Department of Sucre)
• Santiago Pérez Quiroz Airport. Located in Arauca (Department of Arauca)
• La Florida Airport. Located in Tumaco (Department of Nariño)
• Guillermo León Valencia Airport. Located in Popayán (Department of Cauca)
• German Olano Airport. Located in Puerto Carreño (Department of Vichada)
• Juan José Rondón Airport. Located in Paipa (Department of Boyacá)
• Gerardo Tovar López Airport. Located in Buenaventura (Department of Valle Del Cauca)
• El Alcaraván Airport. Located in Yopal (Department of Casanare)
• Contador Airport. Located in Pitalito (Department of Huila)
• Benito Salas Vargas Airport. Located in Neiva (Department of Huila)
• Reyes Murillo Airport. Located in Nuquí (Department of Chocó)
• El Pindo Airport. Located in Montelíbano (Department of Córdoba)
• Mórela Airport. Located in Puerto Berrio (Department of Antioquia)
• Vanguardia Airport. Located in Villavicencio (Department of Meta)
• Antonio Nariño Airport. Located in Chachagüí Pasto (Department of Nariño)

Yuno, a global payments orchestration platform, has announced that its CEO and Co-founder Juan Pablo Ortega and COO and Co-founder Julián Núñez (above photo) have been selected to join Endeavor Colombia. This membership aligns Yuno with other notable Latin American companies such as Rappi, Foodology, and Ontop, providing access to Endeavor’s international network, mentorship, and growth opportunities.

Yuno’s platform helps companies manage payments with over 300 payment methods, including local networks, acquiring banks, and payment processors, through a single interface. This integration eliminates the need for individual relationships with each provider and costly technical infrastructure. Yuno also offers features like one-click checkout, AI-enabled smart routing, and fraud prevention tools.

Camila Salamanca, Managing Director of Endeavor Colombia, stated: “At Endeavor, we support Juan Pablo and Julián’s efforts to enhance the payments ecosystem in Latin America and beyond. Yuno enables companies to optimize payment management systems, reduce costs, and lower fraud. We welcome them to our community of high-impact entrepreneurs.”

“We are pleased to join Endeavor, which provides critical resources and validates our mission to lead the global payments industry,” said Juan Pablo Ortega, Co-founder and CEO at Yuno

Julián Núñez, COO and Co-Founder at Yuno, commented: “Yuno helps businesses navigate the payments landscape and unlock growth opportunities. Endeavor’s resources will help us accelerate our expansion and achieve our mission.”

Yuno recently raised $25 million in a Series A round with investors such as Kaszek Ventures, and Andreessen Horowitz. Clients include McDonald’s, Avianca, inDrive, and Rappi. The company is expanding into markets in Asia, Africa, and Europe.

Endeavor is a global community of entrepreneurs that supports founders with capital, connections, and growth opportunities. With over a decade of experience, Endeavor aims to create a multiplier effect in the entrepreneurial ecosystem.

CORRECTION: Representatives of DST Global have clarified that the firm has not invested in Yuno, however DST cofounders have, outside of DST Global. The article previously stated that DST Global participated in the Series A round.

LATAM Airlines Group S.A. (NYSE: LTM), a major South American passenger and cargo airline group has announced the return of the listing of its American Depositary Receipts (ADR) on the New York Stock Exchange (NYSE) effective July 25, 2024. This follows the pricing of a secondary public offering by certain shareholders to sell 19 million ADRs, each representing 2,000 common shares of LATAM, at a public price of $24 per ADR.

The ADRs began trading on the NYSE on July 25, 2024, under the ticker symbol “LTM.” This marks LATAM Airlines Group’s return to the NYSE after its departure in June 2020, which occurred due to a restructuring process under Chapter 11.

As part of the subscription offer, the selling shareholders have granted underwriters a 30-day option to purchase up to an additional 2.85 million ADRs at the initial public offering price. LATAM will not receive any proceeds from the sale of ADRs by the selling shareholders. The offering is expected to close on July 26, 2024, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Barclays Capital Inc., and J.P. Morgan Securities LLC are acting as global coordinators and lead bookrunners for the offering. Citigroup Global Markets Inc., Santander US Capital Markets LLC, Deutsche Bank Securities Inc., BNP Paribas Securities Corp., MUFG Securities Americas Inc., Natixis Securities Americas LLC, and Larraín Vial S.A. are serving as additional bookrunners, with Morgan Stanley & Co. LLC participating as co-manager in the transaction.

The U.S. Embassy in Colombia has announced that representatives from the Regional Federal Benefits Unit will visit Bogota, Cali, Medellin and Barranquilla, Colombia to offer services for U.S. Social Security and other federal benefits.

As a courtesy to readers, this message has been reprinted in its entirety as issued by the US Embassy in Bogotá.

Medellín

Location: Centro Colombo Americano – Carrera 45 #53-24, Medellín, Colombia

Dates: Monday August 26^th, 2024 from 8:30 AM-12:00 PM and 1:00 PM-4:00 PM

Tuesday August 27^th, 2024  from 8:30 AM-12:00 PM and 1:00 PM-4:00 PM

Wednesday August 28^th, 2024 from 8:30 AM-12:00 PM and 1:00 PM-3:00PM

Bogotá

Location: Centro Colombo Americano – Calle 98 No. 17-32. Bogotá, Colombia

Dates: Thursday August 29^th, 2024 from 8:30 AM-12:00 PM and 1:00 PM-4:00 PM

Friday August 30^th, 2024 from 8:30 AM-12:00 PM and 1:00 PM-4:00 PM

Cali

Location: Centro Colombo Americano – Calle 13 Norte No 8-45, Barrio Granada, Cali

Dates: Monday August 26^th, 2024 from 8:30 AM-12:00 PM and 1:00 PM-4:00 PM

Tuesday August 27^th, 2024 from 8:30 AM-12:00 PM and 1:00 PM-4:00 PM

Wednesday August 28^th, 2024 from 8:30 AM-12:00 PM and 1:00 PM-3:00PM

Barranquilla

Location: Amcham Barranquilla – Cl. 76 #54-11, Nte. Centro Histórico, Barranquilla, Atlántico, Colombia

Dates: Thursday August 29^th, 2024 from 8:30 AM-12:00 PM and 1:00 PM-4:00 PM

Friday August 30^th, 2024 from 8:30 AM-12:00 PM and 1:00 PM-4:00 PM

Please schedule an appointment by sending an email to [email protected] with the subject line: “APPOINTMENT SSA – COLOMBIA”. Please include your full name, Social Security number, telephone, and service required in the body of the message. You must bring original documents as well as a photocopy of each document required.

If you wish to submit your Foreign Enforcement Questionnaire SSA 7162/7161 form, no appointment is required. You may drop the form during service hours at the above locations.

How to prepare for your appointment:

Foreign Enforcement Questionnaire (FEQ): FEQ are colloquially known as “proof of life” forms; these were mailed to individuals with a mailing address in Ecuador with Social Security numbers ending in 50 through 99. Complete the FEQ SSA-7162 form if you receive payments in your own name. Complete the FEQ SSA-7161 form if you receive payments through a representative payee. Do not bring a duplicate Foreign Enforcement Questionnaire if you already mailed one in the second half of 2024. The Federal Benefits Unit cannot confirm if your previously submitted questionnaire was received and will not respond to inquiries requesting confirmation. You will need to verify the status of delivery with the tracking number provided by your shipping company.

Application for Social Security Benefits: For each applicant, bring an original and a copy of the birth certificate and U.S. passport. If applying for auxiliary benefits or survivor’s benefits as the spouse of a deceased beneficiary, bring the original and copy of the marriage and death certificate.

Application for Social Security Number Card:  For each applicant, bring an original and a copy of the birth certificate and U.S. passport, and completed form SS-5FS.

To learn more about the services offered by the Regional Federal Benefits Unit visit: https://do.usembassy.gov/u-s-citizen-services/social-security/

Abra Group, the parent company of Avianca and Gol, has signed a Memorandum of Understanding with Airbus (MOU) for five A350-900s to further expand its international long-haul operations and increase capacity. This is in line with the group’s strategic plans to offer millions of passengers greater connectivity to new destinations on long-range routes.

Airbus has sold over 1,300 aircraft in Latin America and the Caribbean and has a leading  market share of in-service passenger aircraft. Around 800 are in operation throughout the region, with close to 500 in the order backlog. Since 1994, Airbus has secured 75% of net orders in the region. 

Adrian Neuhauser (Above right), CEO of Abra Group said, “We are delighted to announce this agreement with Airbus. We believe the arrival of these five A350s, which offer a best-in-class passenger experience, are more fuel efficient and have a lower cost per seat than competitor aircraft, will allow us to strengthen our commitment to make travel more accessible and responsible. This also means better prices for customers with better connectivity between our continent and Europe, and will further consolidate Abra as one of the largest and most competitive air transportation groups in Latin America. The aircraft selection is consistent with the strategic announcements we have done this year and further executes on our long term vision.”

As with all Airbus aircraft, the A350 aircraft is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). Airbus is targeting to have its aircraft up to 100% SAF capable by 2030.

Benoît de Saint-Exupéry (Above, left), Executive Vice President Sales of the Commercial Aircraft business said, “We are delighted to see the Abra Group endorsing the A350 to continue its mission of strengthening air connectivity between Latin America and the rest of the world. The selection of the A350 reaffirms the aircraft as the undisputed leader in long-haul air travel.”

The departments of Risaralda, Nariño, Huila, and Magdalena, which are among the top contributors to Colombia’s non-mineral export basket, recorded a double-digit increase in exports between January and May. According to the Ministry of Commerce, Industry, and Tourism, based on data from DANE, these four departments collectively sold $1.047 billion USD in agricultural, agro-industrial, and industrial products in the first five months of the year. This represents a 26.6% growth compared to the same period in 2023, when exports totaled $827 million USD.

Overall, from January to May of this year, non-mineral exports reached $8.810 billion USD, marking a 6% increase from $8.310 billion USD in the same period of 2023.

Departmental Performance

Risaralda saw the highest growth in non-mineral exports, with a 60.5% increase. The department exported $344.1 million USD worth of goods, compared to $214.4 million USD in the previous year. Significant growth was seen in the exports of liquid dielectric transformers (158.4%), vehicles for transporting more than 10 people (204.5%), and coffee (106.5%). Key destinations included the United States, Mexico, the Netherlands, China, and India.

Nariño experienced a 48.6% rise in non-mineral exports, reaching $23.9 million USD compared to $16.1 million USD the previous year. Coffee exports (289.5%), corn flour (1,625.3%), and basketry materials (22.7%) were major contributors. Main export destinations were the United States, Belgium, Spain, and Mexico.

Huila recorded a 15.2% increase in non-mineral exports, amounting to $317.4 million USD, up from $275.4 million USD the previous year. The department’s export growth was driven by coffee (4.9%), tilapia including fillets (38.4%), and cacao beans (281.9%). The United States, Canada, Belgium, and Japan were significant markets.

Magdalena saw a 12.5% growth in non-mineral exports, with total sales reaching $362.2 million USD, compared to $322 million USD in the previous year. Bananas (50.5%), coffee (36.1%), and other fruits (198.5%) were key products. The United States, Mexico, Belgium, and the United Kingdom were the primary destinations for these exports.

Latin American corporate issuers rated by Fitch Ratings included more new fallen angels than rising stars during 2Q24, despite the ratio of downgrades-to-upgrades improving for the second consecutive quarter. Downgrades exceeded upgrades 2-to-1 compared to 4.3x during 1Q24 and 7.1x during 4Q23.

Related Content: Latin American Corporates Quarterly Rating Trends Dashboard – July 2024

Downgrades and upgrades occurred during 2Q24 in nearly every Latin American country and corporate subsectors. There were four fallen angels and one rising star during 2Q24, compared to no cross-over credits during 1Q24 and three fallen angels and no rising stars during 4Q23.

Most of the downgrades to speculative-grade from investment-grade were due to the downgrade of Panama’s sovereign rating to ‘BB+’ from ‘BBB-’. The deteriorating operating environment strengthened the linkage between company credit profiles and the sovereign rating. Either full or partial corporate government ownership of the company or its systemic receipt of government subsidies and financial support was an additional consideration. The rising star was a Mexican company in the building & construction sector.

As of June 2024, three publicly rated issuers in our Latin American corporates portfolio were rated ‘BBB-’/Negative and at risk of falling into high-yield territory. Only one was rated ‘BB+’/Positive, indicating it could be upgraded to investment grade.

For more information on corporate issuers on the edge of different rating categories see Global Corporate Credits on the Cusp Monitor – June 2024.

Collective Mining Ltd. (NYSE: CNL, TSX: CNL) has reported assay results for four holes drilled at the Trap Target, located approximately 3.5 kilometers northeast of the company’s flagship Apollo system within the Guayabales Project in Caldas, Colombia.

Drill-hole TRC-11, designed to validate the geological model for Trap, intercepted significant mineralization. The results include 174.45 meters at 1.19 g/t gold equivalent (AuEq), with a notable section of 40.85 meters at 3.76 g/t AuEq.

Two additional holes, TRC-12 and TRC-14, were drilled from a new pad (TPad-4) and intercepted the Mineralized Deformation Zone (MDZ) further along strike. TRC-14 also identified a new zone of mineralization near the collar of the pad. The MDZ corridor, mapped for approximately 1.4 kilometers, remains open for further expansion.

TRC-8 intersected mineralization in the MDZ before being cut short by a post-mineral intrusive dyke, returning 51.05 meters at 1.41 g/t AuEq. TRC-9 and TRC-10, drilled outside the MDZ, showed lower grade mineralization.

The company plans to continue drilling along the MDZ corridor and has mobilized a second rig to Trap. Reconnaissance exploration drilling will also commence shortly at the X target and the southern part of the Plutus target.

Drill Results Summary:

• TRC-11: 174.45 meters @ 1.19 g/t AuEq, including 40.85 meters @ 3.76 g/t AuEq
• TRC-8: 51.05 meters @ 1.41 g/t AuEq, including 11.90 meters @ 2.49 g/t AuEq
• TRC-9: Multiple intercepts, including 3.25 meters @ 4.83 g/t AuEq
• TRC-10: 89.85 meters @ 0.73 g/t AuEq, including 13.10 meters @ 1.98 g/t AuEq

Assay results from outcrops at the southeastern end of the MDZ indicate potential for further expansion. The company will continue to update as more results become available.

“I would like to commend our team for their tenacity at Trap, which I believe will now rapidly evolve through drilling into a multi-million-ounce precious metal system. Additionally, the discovery at Trap should nicely compliment our flagship Apollo system and in time, I am confident the two systems will lead to a robust mineral resource inventory capable of producing at a large-scale production profile for many years in the future,” said Ari Sussman, Executive Chairman.

“With five drill rigs turning as part of our 40,000-meter program and a backlog of core in the lab, we are excited about the second half of the year where aggressive drilling with four rigs will take place at the Apollo and Trap systems. Additionally, reconnaissance exploration drilling will commence shortly with one rig at the X target, where we will drill test a look-a-like brecciated porphyry system to Apollo and another rig (six in total at the Guayabales project) at the southern part of the Plutus target, where we will test for a potential copper-gold porphyry system.”

The premier event for the HVAC/R industry in Latin America, RefriAméricas, organized by ACR Latinoamérica, will celebrate its 20th anniversary on July 24-25, 2024, at the Miami Airport Convention Center. With two decades of history, this successful convention continues to bring together professionals, companies, and institutions in the sector.

During the event, the prestigious Cala Awards ceremony will take place, recognizing the Best HVAC/R Installation in Latin America for 2024. This award honors innovation, efficiency, and quality in the most outstanding projects in the region.

RefriAméricas offers a robust academic program with conferences led by renowned experts in the HVAC/R industry. Topics include the latest trends, emerging technologies, and best practices, providing attendees with valuable learning and professional development opportunities.

The event also includes two exclusive technical tours to modern installations in Miami: Society Winwood and 830 Brickell. These tours will allow participants to closely explore innovative and cutting-edge projects in the sector.

The RefriAméricas trade show will feature more than 100 recognized companies from the HVAC/R market. Attendees will have the opportunity to explore state-of-the-art products, services, and solutions, establishing valuable connections with suppliers and industry leaders.

During the event, to celebrate its two decades in the market, RefriAméricas will host the Fiesta Alegría. This special festive event commemorates the growth and development of the HVAC/R industry over the past 20 years.

RefriAméricas 2024 promises to be an unforgettable experience, combining learning, innovation, and celebration. Don’t miss the opportunity to be part of this unique event and celebrate 20 years of success in the HVAC/R industry with us.

Date: July 24-25, 2024 Location: Miami Airport Convention Center (MACC), Miami, FL For more information, visit: Website: www.refriamericas.com Social Media: Facebook and Instagram: refriamericas LinkedIn: refriamericas