Tangelo, a financial technology company, supports Lealtad Verde and Tiendas OXXO's partnership by financing biorecycling machines

• Value Green Lease, Tangelo's financial product, provides preferential rates for environmentally responsible projects.
• Lealtad Verde is a Mexican company specialized in circular economy and urban solid waste management. Its new technological model revolutionized Mexico's old recycling model.
• Lealtad Verde recently announced its partnership with Tiendas OXXO to promote the circular economy and recycling culture in Mexico.

MEXICO CITY, July 11, 2022 /PRNewswire/ -- Value Green Lease is a sustainable financing mechanism designed by Tangelo to finance environmentally responsible productive assets, such as electric or hybrid vehicles, water treatment plants, solar panels, or, in this case, biorecycling machines. Value Green Lease is a product with preferential rates that supports projects with a positive environmental impact, in line with Tangelo's commitment to reduce its carbon footprint.

"At Tangelo, we are very excited to fund projects with a positive environmental impact. Our Value Green Lease product creates the right conditions for these types of initiatives and we hope that this project will create a domino effect leading to organizations from different sectors getting access to financial tools to implement sustainability strategies," said Ricardo Hoyo, Head of Corporate at Tangelo. He added: "With this partnership we are enabling the circular economy favoring waste management, allowing recyclable materials to be reincorporated into industrial processes."   

Lealtad Verde recently announced a partnership with Tiendas OXXO to promote recycling culture among Mexicans, and to set a precedent in Mexico's circular economy. In March 2022, the first phase of this initiative began with the installation of 30 biorecycling machines in OXXO stores in Mexico City and Monterrey, which can each collect up to 12 kg of PET bottles and 15 kg of aluminum, and are projected to reach up to 3,000 stores throughout the country in the next 5 years with an investment of more than 500 million pesos.

Lealtad Verde developed an integrated solution for the proper management, separation, classification, recovery, monetization and return of urban solid waste, to neutralize carbon footprint. Using the biorecycling machines, its circular economy model makes it an innovative project for the proper management of municipal solid waste.

This partnership has an important Socially Responsible Investment (ESG) component in that the biorecycling machines financed by Tangelo allow OXXO customers, upon depositing their PET bottles, HDPE, or aluminum cans, to obtain several benefits through the Lealtad Verde app such as: discount coupons, OXXO promotions, and even Tlalicoins, the carbon footprint valuing cryptocurrency that is part of #LealesAlPlaneta.

Lealtad Verde's goal for this first year is to collect more than 9 million containers, equivalent to over 187,200 kg of CO2, which translates to planting 1,260 trees or eliminating the emissions equivalent of 40,290 cars driving for a year.

"Our purpose is to neutralize our carbon footprint and we are very happy and proud that Tangelo, a company that supports projects with a positive environmental impact, is supporting the Lealtad Verde project," said Adrian Sanchez, CEO of the company.

Tangelo seeks that the projects it finances help counteract excessive waste generation by rethinking linear production in favor of a circular system, from the design and conceptualization of products to the final disposal promoting recycling, redesign and reuse.

About Tangelo

Tangelo is a high-growth financial technology company specializing in developing and scaling alternative credit products and services for individuals and businesses in Latin America. Through a proprietary technology platform and advanced data analytics capabilities, Tangelo manages a diverse portfolio of customized products including point-of-sale financing, supply chain financing, asset-based lending, credit scoring as a service, and end-to-end white label digital credit solutions for numerous industries.

About FEMSA

FEMSA is a company that generates economic and social value through companies and institutions and seeks to be the best employer and neighbor in the communities where it operates. It participates in retail through FEMSA Comercio, which comprises the Proximidad Division and includes OXXO, a chain of small-format stores; a Health Division that includes pharmacies and related activities; and a Fuels Division that operates the OXXO GAS service stations chain. In the beverage industry, it operates Coca-Cola FEMSA, a public bottler of Coca-Cola products; and in the beer sector, it is a shareholder of HEINEKEN, a company that is present in over 70 countries. In addition, through FEMSA Negocios Estratégicos, it offers logistics services, point-of-sale refrigeration solutions, and plastics solutions to FEMSA companies and external clients. Through its Business Units, it employs approximately 300,000 employees in 13 countries. FEMSA is a member of the Dow Jones Sustainability MILA Pacific Alliance Index, the FTSE4Good Emerging Index, and the Mexican Stock Exchange's IPC Sustentable index, among other indexes that evaluate its sustainability performance.

About FEMSA Proximidad

FEMSA's Proximidad Division generates economic and social value in the countries where it operates. It operates several small-format retail chains in Mexico, Brazil, Colombia, Chile, and Peru, including OXXO stores. It also operates service stations under the OXXO GAS brand in Mexico. Through its business units, FEMSA's Proximidad Division serves over 13 million consumers every day and employs more than 160 thousand employees, promoting inclusion, diversity, and sustainability practices within its teams to operate in harmony with the planet, the community, and the value chain.

About Lealtad Verde

Lealtad Verde is a Mexican company with over 20 years of experience specializing in circular economy and urban solid waste management. Through the Lealtad Verde app, which was developed by Mexican talent, it helps drive the economy by reinventing the recycling model, connecting, and rewarding the good deeds of the community, with its loyalty program, and helping to counteract harmful effects to the environment. www.lealtadverde.com  

SOURCE Mexarrend, S.A.P.I. de C.V.