Note 11. Related Parties

The following is a summary of assets, liabilities, and income transactions with all related parties:

Schedule of Related Parties 

Schedule of Sale to Related Parties

Alutrafic Led SAS

In the ordinary course of business, we sell products to Alutrafic Led SAS (“Alutrafic”), a fabricator of electrical lighting equipment. Affiliates of Jose Daes and Christian Daes, the Company’s Chief Executive Officer and Chief Operating Officer, respectively, have an ownership stake in Alutrafic. During the three and six months ended June 30, 2026, we sold $276, and $569, respectively, to Alutrafic, compared to $230 and $587 during the three and six months ended June 30, 2025, respectively. Additionally, we had outstanding accounts receivable from Alutrafic of $644 and $525 as of June 30, 2026, and December 31, 2025, respectively.

Fundacion Tecnoglass-ESWindows

Fundacion Tecnoglass-ESWindows is a non-for-profit entity set up by the Company to carry out social causes in the communities around where we operate. We made charitable contributions during the three and six months ended June 30, 2026 of $1,242 and $2,426, respectively, compared to $998 and $2,046, during the three and six months ended June 30, 2025, respectively.

Prisma-Glass LLC

In the ordinary course of business, we sell products to Prisma-Glass LLC, a distributer and installer of architectural systems in Florida that is owned and controlled by family members of Christian Daes. We sold $448 and $604, respectively, to Prisma-Glass LLC during the three and six months ended June 30, 2026, compared to $785 and $1,168, respectively, during the three and six months ended June 30, 2025. The Company had outstanding accounts receivable from Prisma-Glass of $359 and $404 as of June 30, 2026, and December 31, 2025, respectively.

Santa Maria del Mar SAS

In the ordinary course of business, we purchase fuel for use at our manufacturing facilities from Estación Santa Maria del Mar SAS, a gas station located in the vicinity of our manufacturing campus which is owned by affiliates of Jose Daes and Christian Daes. During the three and six months ended June 30, 2026, we purchased $462 and $846, respectively, compared to $131 and $719 purchased during the three and six months ended June 30, 2025, respectively.

Storm Armour Solutions

In June 2025, the Company entered into a partnership with Storm Armour, LLC to create Storm Armour Solutions, LLC which has the purpose of participating in the sale, sublicensing, and distribution of licensed products in the areas of influence, under a licensing agreement. To join this business, Tecno Inc created a wholly owned subsidiary named Tecnoglass Armour, LLC, a Limited Liability Company based in the State of Florida. Tecnoglass Armour, LLC has a 60% capital contribution of Storm Armour Solutions, LLC. As of June 30, 2026, we had an investment of $901 recorded on our consolidated balance sheet.

Studio Avanti SAS

In the ordinary course of business, we sell products to Studio Avanti SAS (“Avanti”), a distributer and installer of architectural systems in Colombia. Avanti is owned and controlled by Alberto Velilla, who is director of Energy Holding Corporation, the Company’s largest shareholder. As of June 30, 2026 and December 31, 2025, the Company had outstanding accounts receivable from Avanti of $427 and $403, respectively. During the three and six months ended June 30, 2026, we sold $51 and $145 of products to Avanti, respectively, compared to $294 and $532 during the three and six months ended June 30, 2025, respectively.

Vidrio Andino Joint Venture

On May 3, 2019, we consummated a joint venture agreement with Saint-Gobain, a world leader in the production of float glass, a key component of our manufacturing process, whereby we acquired a 25.8% minority ownership interest in Vidrio Andino, a Colombia-based subsidiary of Saint-Gobain. The purchase price for our interest in Vidrio Andino was $45 million, of which $34.1 million was paid in cash and $10.9 million paid through the contribution of land on December 9, 2020. On October 28, 2020, we acquired said land from a related party and paid for it with the issuance of an aggregate of 1,557,142 ordinary shares of the Company, valued at $7.00 per share, which represented an approximate 33% premium based on the closing stock price as of October 27, 2020.

The land will serve the purpose of developing a second float glass plant nearby our existing manufacturing facilities which we expect will carry significant efficiencies for us once it becomes operative, in which we will also have a 25.8% interest. The new plant will be funded with proceeds from the original cash contribution made by the Company, operating cashflows from the Bogota plant, debt incurred at the joint venture level that will not consolidate into the Company and an additional contribution by us of approximately $12.5 million if needed (based on debt availability as a first option).

In the ordinary course of business, we purchased $9,352 and $17,393, of materials from Vidrio Andino during the three and six months ended June 30, 2026, respectively, compared to $10,633, and $19,678, during the three and six months ended June 30, 2025, respectively. We also had outstanding payables to Vidrio Andino of $5,131 and $5,717 as of June 30, 2026 and December 31, 2025, respectively. We recorded equity method loss of $159, and income of $3, on our Consolidated Statement of Operations during the three and six months ended June 30, 2026, respectively, compared to $941 and $2,258, recorded during the three and six months ended June 30, 2025, respectively.

Zofracosta SA

We have an investment in Zofracosta SA, a real estate holding company located in the vicinity of the proposed glass plant being built through our Vidrio Andino joint venture, recorded at $883 and $810 as of June 30, 2026 and December 31, 2025, respectively. Affiliates of Jose Daes and Christian Daes have a majority ownership stake in Zofracosta SA.