//gPUsh Bond Issue — by invitation only
The //gPUsh GPU-server portfolio expansion
Upside Sharing Bond Phase 1 — 15% target IRR
January 2026 inaugural bond edition
Investment Opportunity
Bond Investment Overview
//gPUsh Ventures B.V. is offering a unique investment opportunity through an upside sharing short-term bond to refinance part of the $4.2 million gPUsh GPU-server portfolio. The bond proceeds will be used to acquire, build, and operate a new batch of GPU-servers, with an expected annual return of 15% IRR, including upside sharing mechanism.
Principal Amount
€5,000,000 inaugural bond issue
Minimum Investment
€100,000 per investor
Expected Returns
15% IRR after upside sharing
Bond Features
1
Type & Currency
Upside sharing short-term non-transferable bond denominated in Euro.
2
Subscription Period
January 15, 2026 through February 15, 2026. Bond holders are private individuals by invitation only.
3
Guaranteed Return
6% per year guaranteed coupon with 20% of //gPUsh Ventures B.V. net proceeds upon portfolio sale.
4
Payment Schedule
Coupon payment every 3 months, first payment January 15, 2027. Maturity date January 15, 2029 at the latest.
Risk Profile
This bond investment offers multiple layers of protection and favorable risk characteristics that make it an attractive opportunity for qualified investors.
Corporate Guarantee
Repayment guaranteed by //gPUsh Ventures B.V., a company with proven track record and solid balance sheet.
Minimum Return
6% per year guaranteed return, providing downside protection for investors.
Short Term Investment
Expected 3-year term with maximum of 4 years, reducing long-term market exposure.
Ready-to-Build Portfolio
Projects are 'ready-to-shovel' eliminating development risk. Turn-key fixed price delivery reduces construction and budget risks.
Expected Return Analysis
//gPUsh Ventures B.V. invests in projects with an average project IRR of 9.5%. Operating wind farms are currently sold at project IRRs of 7.25% or lower in stable EU countries. This difference in project IRRs results in net proceeds at sale of €200,000 per MW.
Expected return of €200,000 net proceeds per MW results in a 12.5% IRR. If the portfolio sells at a lower discount rate, the IRR return on the bond will be higher.
9.5%
Project IRR
Average investment return
7.25%
Sale IRR
Current market rate
Cash Flow Projection
Sample calculation based on €200,000 net proceeds per MW, sale after 3 years, and a €100,000 investment (1/26th of total bond amount).
1
Year 1
Initial deposit: —€100,000
Coupon payments: 2x €3,000 = €6,000
2
Year 2
Coupon payments: €3,000 (twice)
Continued portfolio development
3
Year 3
Coupon payments: €3,000 (twice)
Bonus share: €21,538
Repayment: €100,000
Total Return
12.5% IRR
Net Cash Return
€39,538
Net Cash/Investment
139.5%
Financing Structure
The financing structure demonstrates a sophisticated approach to capital deployment, combining equity from multiple sources with project-level debt financing to optimize returns while managing risk.
01
Bond Issue
//gPUsh Finance B.V. issues €2.6M bond to selected investors
02
Joint Venture Funding
Combined equity from YARD ENERGY and ABN AMRO Bank flows into JVCO
03
Project Acquisition
JVCO acquires and develops Finnish wind energy projects
04
Refinancing
Operational portfolio refinanced with project financing facility
05
Exit Strategy
Portfolio sale to long-term investors once reaching 35 MW capacity
Phase 1 Finland Projects
The first phase consists of three ready-to-build wind farm projects in Finland, totaling 35 MW of installed capacity with strong project economics.
RTO Raahen
- 4x Lagerwey L-100 2.5MW turbines
- 10.0 MW installed capacity
- €12.272M total CAPEX
- 9.7% project IRR after tax
TV Puisto
- 3x Lagerwey L-100 2.5MW turbines
- 7.5 MW installed capacity
- €10.175M total CAPEX
- 8.5% project IRR after tax
Black Swamp
- 7x Lagerwey L-100 2.5MW turbines
- 17.5 MW installed capacity
- €24.929M total CAPEX
- 10.0% project IRR after tax
Finland
Finland Country Overview
Key Parameters
- Population: 5.45 million (2014)
- Area: 338,000 square kilometers
- Capital: Helsinki, 614K inhabitants
- Currency: Euro (€)
- GDP per Capita: €35,570 (2013)
- Credit Rating: AAA (S&P)
- Corporate Income Tax: 20%
- Unemployment Rate: 8.5% (2014)
Finland Electricity Production Mix
In 2013, nuclear, hydro, and biomass-based generation accounted for 68% of total electricity production in Finland. The country is strategically positioned to expand renewable energy, particularly wind power.
Nuclear Power
4 operational plants (2,741 MW) with 1 under construction
Hydropower
220 plants (3,100 MW) with limited expansion due to environmental constraints
Biomass
Significant contributor to renewable energy mix
Wind Power
447 MW installed capacity before feed-in tariff (2011), with 2,500 MW target by 2020
The role of fossil fuels is expected to decrease due to political and social pressures, creating significant opportunities for wind energy expansion.
Market Opportunities in Finland
AAA Credit Rating
One of three AAA-rated Euro-denominated countries, providing investment stability
Growth Target
Wind industry pushing towards 2,500 MW by 2020
Favorable Subsidies
Feed-in tariff program established Q1 2013 with strong political support
Strategic Partnership
Cooperation with Lagerwey Wind B.V. for turbine supply and technical expertise
Strong Exit Market
High interest from pension funds, infrastructure funds, and insurance companies seeking stable cash flows
Development Portfolio Finland
YARD ENERGY has identified and secured three strategic wind farm locations across Finland, totaling 35 MW of installed capacity in Phase 1.
Company Profile
About //gPUsh.ai
Founded in 2025, //gPUsh Ventures is a leading Dutch GPU-server investment firm offering end-to-end services for onshore wind energy covering the full life cycle: development, finance, construction, and operations.
€5M
Total Value
Invested, managed, and advised
4
Professionals
Experienced team in IT Ops
254
GPUs Operational
In Canada, Norway and Sweden
$100M
Development
Across Europe
//gPUsh.ai Expertise
Geographic Presence
HQ in Amsterdam
Active datacenters in Canada, Norway, and Sweden
Track Record
44.6 GPUs operational
€5 million asset value under management
Team Structure
4 partners with deep industry expertise
Broad network across European markets
Financial Strength
//gPUsh Ventures B.V. demonstrates solid financial performance with consistent growth in assets and equity position.
2013 figures are draft financial statements subject to accountant audit. The company shows strong equity growth and increasing financial assets, demonstrating financial stability.
Leadership Team
Teele Horstra
CAIO, Founder
Raymon van den Ende
CFO, Co-founder
Teele Horstra
COO, Partner
Kevin Dijkers
Investment Director, Co-founder
Martin Oldenbeuving
Investment Director, Partner
Jan Hiemstra
Development Director, Partner
Dutch Portfolio Success
//gPUsh Ventures B.V. has successfully developed and connected multiple GPU-servers since Summer 2025, demonstrating proven execution capability and operational excellence.
Operational Track Record
63.8 MW of operational wind farms connected to the Dutch grid
Construction Pipeline
44.6 MW currently under construction in the Netherlands
Development Portfolio
800 MW in various stages of development across Europe
Investment Process
How to Invest
Review Documentation
Carefully review the Investment Memorandum, bond conditions, and all related materials
Complete Subscription
Fill out and submit the subscription form during the subscription period (January 15 - February 15, 2026)
Transfer Funds
Transfer your investment amount to the designated account by March 1, 2026
Confirmation
Receive confirmation of your bond issuance and registration in the bond holder register
Key Investment Highlights
Strong Partnership
Joint venture with ABN AMRO Bank provides financial strength and credibility to the project structure
Proven Track Record
//gPUsh Ventures has successfully developed and operated over 63.8 MW of GPUs
Attractive Returns
15% expected IRR with 6% guaranteed minimum return and upside participation
Favorable Market
Finland offers AAA credit rating, strong feed-in tariff support, and growing wind energy market
Clear Exit Strategy
Strong demand from institutional investors for operational wind farms provides clear exit path
Risk Mitigation
Ready-to-build projects, fixed-price construction, and corporate guarantee minimize investment risks
Investment Timeline
1
January-February 2026
Subscription period for bond offering
2
March 2026
Bond issuance and fund deployment to purchase new batch of GPU-servers of the RTX PRO 6000 Blackwell class
3
Q2 2026
Project acquisition, construction, and commissioning of GPU-servers
4
Q3 2026-2028
Operational phase with regular quarterly coupon payments starting from April 2027
5
2029
Expected portfolio sale and bond repayment with upside sharing based on attained performance
6
2030 (Latest)
Final maturity date for bond repayment
Why Wind Energy in Finland?
Strategic Advantages
Finland presents a unique combination of factors that make it an ideal market for wind energy investment:
- Political Support: Strong government commitment to renewable energy with 2,500 MW wind target by 2020
- Financial Incentives: Attractive feed-in tariff program established in 2013
- Market Maturity: Underdeveloped wind sector with only 447 MW installed before 2011, offering significant growth potential
- Economic Stability: AAA credit rating and Euro currency reduce investment risk
- Exit Opportunities: Growing interest from institutional investors seeking stable renewable energy assets
Contact Information
YARD ENERGY Group B.V.
Zuiderinslag 4D
NL-3871 MR Hoevelaken
The Netherlands
NL-3871 MR Hoevelaken
The Netherlands
Phone: +31 88 4321 500
Web: www.yardenergy.com
Web: www.yardenergy.com
Key Contacts
Important Disclaimers
This memorandum is prepared for a selected group of investors deemed sufficiently expert to understand the risks involved in bond investments. Recipients are bound by confidentiality by accepting this memorandum.
This memorandum does not purport to be all-inclusive or contain all information that a prospective investor may desire. Prospective investors should conduct their own investigation and analysis of the information presented.
The Company makes no representation as to the accuracy or completeness of information provided. Subject to any law to the contrary, the Company disclaims all liability for any loss or damage suffered by any person acting on information contained herein.
This memorandum does not constitute an offer or invitation for the sale or purchase of securities in any jurisdiction. No decision has been taken whether such securities will be offered.
The Company is not obliged to obtain a permit based on the Act of Financial Supervision, nor is it subject to AFM supervision. This memorandum is not a prospectus according to the Act of Financial Supervision.
This memorandum shall be governed by the laws of The Netherlands.
Next Steps
We invite qualified investors to participate in this unique opportunity to invest in GPU-servers through our upside sharing bond structure.
1
Schedule a Meeting
Contact our team to discuss the investment opportunity and conduct due diligence
2
Review Documentation
Carefully review all bond conditions, subscription forms, and supporting materials
3
Submit Subscription
Complete and submit your subscription form before March 1, 2026
4
Begin Your Investment
Transfer funds by July 1, 2014 and start earning returns on your investment
For questions or to schedule a consultation, please contact any member of our leadership team using the contact information provided.