Yeşil Global Enerji (PWRU) Registration Filing summary

Company overview and business model

• Operates in the waste-to-energy sector, converting landfill gas and biogas into renewable electricity, with six power plants in Turkiye and expansion into geothermal and U.S. natural gas/data center projects.

• Sells electricity under FX-linked tariffs, with 90% of production qualifying for USD-denominated revenue under Turkiye's YEKDEM program, providing revenue stability through at least 2030 for key assets.

• Generates and monetizes carbon credits through verified MRV systems, producing about 2 million tons of credits annually, and aligns with EU compliance frameworks.

• U.S. expansion includes oil and gas production, modular data centers, and crypto mining powered by captured natural gas, aiming for a vertically integrated energy and digital asset platform.

• Focuses on sustainability, circular economy, and operational efficiency, leveraging proprietary technologies and strong municipal partnerships.

Financial performance and metrics

• For the six months ended June 30, 2025: revenue was TRY 1.31 billion (down 18.6% YoY), gross profit TRY 434 million (down 9.2%), net profit TRY 396 million (down 82.9%).

• For FY 2024: revenue was TRY 2.65 billion (down 9.6% YoY), gross profit TRY 992 million (up 21.3%), net profit TRY 2.34 billion (up 168.8%).

• EBITDA for the six months ended June 30, 2025 was TRY 903 million; for FY 2024, TRY 2.11 billion.

• Net working capital deficit as of June 30, 2025 was TRY 1.64 billion; cash and cash equivalents at period end were TRY 37.7 million.

• Bank borrowings reduced from TRY 867 million at end-2024 to TRY 500 million at June 2025, with high-interest loans repaid in October 2025.

Use of proceeds and capital allocation

• Net proceeds from the IPO will fund North American operations (oil/gas property acquisition, infrastructure, data centers), R&D in Turkiye and North America, and general corporate purposes.

• Management has broad discretion over allocation; proceeds are expected to fund projects over the next 12 months.