SPERRE
Message from the CEO

Sustainability is
who we are.

I have been part of Sperre for many years, and every year I am reminded that sustainability is not a programme we run — it is who we are. It was part of this company long before that word became common in boardrooms. The people who built Sperre in 1938 understood that a product worth making is a product worth making to last.

That belief still lives here — in the way our engineers approach their work, and in the everyday conversations where someone asks whether we can do something a little better. For us, sustainability is not a separate agenda. It is simply part of how we look after the people who work here, the customers who rely on us, and the environment around us.

"We say it's personal — and we mean it. Every compressor we build carries the responsibility of the people who made it, and the trust of the people who depend on it."

Our compressors remain in operation for 30 years or more — as long as the vessel or application is in operation. This longevity is perhaps our most personal contribution to sustainability: fewer replacements mean fewer raw materials consumed, less energy spent in manufacturing, and a smaller footprint left on the world.

To our partners, customers, and stakeholders: thank you for holding us to a high standard. We welcome that. It is what keeps this personal.

Ole Nustad Chief Executive Officer, Sperre Air Power
Ole Nustad, CEO
Our model in numbers
85+

Years perfecting compressed air systems for the world's maritime fleet.

1/5

Every 5th ship in the world carries a Sperre compressor system.

30+

Years in operation — as long as the vessel needs it. Longevity is our sustainability strategy.

C1 — Strategy & Business Model

Built to last.
Built to matter.

Sperre designs, manufactures, and services compressed air systems for the global maritime fleet — both piston and screw compressors. Our headquarters and production facility is at Ellingsøy, Ålesund. We operate four sales and service offices in Shanghai, Singapore, Busan and Rotterdam.

Design for the Future
30+ yrs

Our compressors remain in operation for 30+ years — as long as the vessel or application is in operation. The longer our products last, the less needs to be made.

Circular Value
92%

Replace parts, not whole compressors. 92% of our waste is sorted. Spare parts available for the lifetime of every product we sell.

People First
0 fatalities

Zero fatalities in 2025. Safe workplaces, fair pay, and respect for human rights — in our own operations and across our supply chain.

Global Presence
🇳🇴
Sperre Air Power AS
HQ · Manufacturing
Ellingsøyvegen 740
6057 Ellingsøy, Norway
62.494°N, 6.315°E
🇨🇳
Sperre Compressor Trading (Shanghai) Co. Ltd.
Sales Office
Room 803B, C Building Luneng International Center, No. 211, Guoyao Road
Pudong New District, Shanghai 200126, China
31.188°N, 121.488°E
🇸🇬
Sperre Asia Pte. Ltd.
Sales Office
21 Bukit Batok Crescent, #26-72
WCEGA Tower, Singapore 658065
1.337°N, 103.760°E
🇰🇷
Sperre Air Power Branch Korea
Sales Office
Unit 201 A-dong, Centumskybiz
97, Centum Jungang-ro, Haeundae-gu
Busan, South Korea
35.169°N, 129.130°E
🇳🇱
Sperre Rotterdam B.V.
Sales Office
Boompjes 40
3011 XB Rotterdam, The Netherlands
51.917°N, 4.490°E
B1 — Basis for Preparation

Our fifth report.
Our first under VSME.

This is our fifth sustainability report, and our first prepared under the VSME standard — the Voluntary Sustainability Reporting Standard for non-listed SMEs, issued by EFRAG in December 2024. We report under the Comprehensive module. The parent undertaking, Sperre Air Power AS (Aksjeselskap), prepares this report on a consolidated basis covering all five group entities for FY 2025. Our headquarters and production site at Ellingsøy is the primary reporting boundary for operational and environmental data. Our four sales offices — Shanghai, Singapore, Busan and Rotterdam — contribute data on energy, water, company cars, commuting and business travel. The financial data in this report is consistent with the consolidated financial statements for the same period.

Turnover
74 mEUR
FY 2025 consolidated
Balance Sheet
567 mEUR
FY 2025 consolidated
GHG Intensity
0.62
tCO₂e per mEUR turnover (Scope 1+2)
NACE Code
28.130
Pumps & compressors
Certifications & Recognition
ISO 9001
Quality Management
Since 2011 · DNV
ISO 14001
Environmental Management
Since 2011 · DNV
ISO 50001
Energy Management
Since 2024 · DNV
ISO 45001
Occupational H&S
Since 2013 · DNV
ISO 27001
Information Security
Since 2024 · DNV
B2/C2 — Double Materiality Assessment

Our four material
sustainability
priorities.

Identified through our Double Materiality Assessment in 2024. These four topics reflect where we have the most significant impact — on people and on the environment.

The DMA was conducted by management with input from key stakeholders including employees, customers, and suppliers. Both impact materiality and financial materiality were assessed. Our ESG & HSEQ Policy and Code of Conduct are available upon request. Environmental and safety policies are implemented through our ISO management systems (14001, 45001, 50001).

01
Climate Change & Pollution

GHG emissions management, energy transition, pollution prevention across operations and value chain. Covered by ISO 14001 and ISO 50001.

EnvironmentalTargets: 2026
02
Circular Economy

Long product lifetimes, component-level replacement, waste reduction, supplier packaging initiatives and downstream lifecycle support.

Environmental✓ Targets set
03
Own Workforce — Competence

Structured training, individual development plans, e-learning platform, knowledge sharing and career development across all locations.

SocialPolicy in place
04
Workers in the Value Chain

Human rights due diligence, Norwegian Transparency Act compliance, Code of Conduct requirements for suppliers and agents.

SocialPolicy in place
UN Sustainable Development Goals

Our contribution
to the SDGs.

We support the maritime sector's transition toward more sustainable operations by delivering reliable, long-lasting compressor systems that form part of the technical foundation for lower-emission shipping.

Sperre has been a signatory to the UN Global Compact and the UN Sustainable Ocean Principles since 2020.

SDG 8
Decent Work and Economic Growth

Safe workplaces and employee well-being. Sick leave improved from 3.0% to 2.2% in 2025, with zero fatalities across all sites.

2.2%
Sick leave 2025
SDG 9
Industry, Innovation and Infrastructure

Durable, high-quality systems built to last 30+ years, reducing the need for replacement and supporting resilient maritime infrastructure.

SDG 12
Responsible Consumption and Production

We replace parts, not whole compressors. Waste recycling improved from 52% to 67% over three years.

67%
Waste recycled 2025
SDG 13
Climate Action

Our systems enable vessels using lower-emission technologies. We run on 94% renewable electricity and track GHG across all three scopes, with formal reduction targets planned for 2026.

Sperre production facility
B3 — Energy & Greenhouse Gas Emissions

Our climate
footprint.

We manage our environmental impacts systematically — ISO 14001 has guided our work since 2011, and ISO 50001 has strengthened our energy management since 2024. Our compressors remain in operation for 30 years or more, because a compressor that never needs replacing is the most sustainable one we can build.

Energy Mix — 3,114 MWh total
2,927 MWh
Renewable electricity (94%)
160 MWh
Non-renewable electricity (5%)
27 MWh
Fuel consumption (1%)

Fuel: 27,000 kWh (27 MWh) — company vehicles.

Energy Breakdown — VSME B3 §29
Energy SourceRenewableNon-renewableTotal
Electricity (purchased)2,9271603,087
Fuels2727
Total energy consumption2,9271873,114
GHG Intensity
0.62 tCO₂e / mEUR turnover

45.97 tCO₂e (Scope 1+2) ÷ 74 mEUR turnover

GHG Emissions by Scope — 13,457 tCO₂e total
Scope 1 · Direct
5.87 tCO₂e
Company vehicles
0.04% OF TOTAL
Scope 2 · Electricity
40.1 tCO₂e
Purchased electricity, location-based
0.3% OF TOTAL
Scope 3 · Value Chain
13,411 tCO₂e
Upstream & downstream value chain
99.7% OF TOTAL
Scope 3 — Category Breakdown
CategorytCO₂e
Cat. 1 — Purchased goods & services11,767
Cat. 3 — Fuel & energy related25
Cat. 4 — Upstream transportation1,189
Cat. 5 — Waste from operations8
Cat. 6 — Business travel326
Cat. 7 — Employee commuting86
Cat. 12 — End-of-life treatment10
Total Scope 313,411

Category 11 (use of sold products) could not yet be reliably estimated. We are exploring methods to include this in future reporting cycles.

B4/B5/B6 — Pollution, Water & Biodiversity

We manage our environmental impacts at Ellingsøy through ISO 14001, certified since 2011. In 2025 there were no contamination incidents, and none of our locations are near biodiversity-sensitive areas.

Air Pollution
Minimal
No significant NOx/SOx processes.
Water Withdrawal (B6)
1,245 m³
Sanitary and minor cooling use. Consumption is monitored continuously — automated alerts flag any abnormal usage. No high water-stress areas.
Soil & Biodiversity
0
Contamination incidents in 2025. No biodiversity-sensitive areas.
B7 — Waste Management & Circular Economy

Replace components,
not compressors.

Total Waste
361 tonnes
Generated FY 2025
Recycling Rate
67%
242+ tonnes recycled
Sorting Rate
92%
At manufacturing facility
Product Life · Piston
30+ yrs
Screw units: 20+ years
Waste by Type
296.3 t
Non-hazardous (82%)
65.1 t
Hazardous (18%)

Hazardous waste reported to authorities per Norwegian regulations.

Circular Economy Approach

Our compressors are built to last — decades in operation, not years. That means less new manufacturing, less material use, and less waste. We keep spare parts available for the lifetime of every product we sell.

We are continuously working to substitute input materials to reduce harm on the environment — both by finding more environmentally friendly materials and more energy-efficient alternatives.

Component replacement Spare parts availability Circular packaging Material substitution

Mass flow of materials (B7 §38c): Structured weight data collection for all components is being implemented in 2026.

Sperre team at EllingsøyB8–B10 — Our People

136 people.
5 countries.
One culture.

Total FTE
136
Permanent: 124.4 · Temp: 11.6
Male / Female
102 / 34
FTE (74.8% / 25.2%)
Turnover Rate
6.24%
Including retirements
CBA Coverage
38%
Collective agreements
FTE by Country
🇳🇴 Norway
111
HQ & manufacturing
🇨🇳 China
17
Sales office
🇸🇬 Singapore
4
Sales office
🇰🇷 South Korea · 🇳🇱 Netherlands
2 + 2
Sales offices

Non-employee workers (C5): Sperre does not engage significant numbers of non-employee workers (contractors, agency workers, or self-employed persons) in its operations. Temporary staffing needs are covered through the 11.6 temporary FTE reported above.

B9 — Health & Safety

ISO 45001 certified since 2013. Our goal is zero fatalities and zero serious injuries.

Fatalities
0
Zero in 2025
Accidents
6
Reported incidents
Days lost
4
Total 2025
Accident rate
5.25
Per 200k hours worked

A good working environment and fair working conditions are important to us. We follow up systematically through risk assessments and regular health check-ups via occupational health services. In addition, we offer benefits such as pension schemes, insurance programmes above mandatory requirements, and gym membership support. We also have a dedicated working group focused on equality and non-discrimination.

B10 — Remuneration
Gender Pay Gap
21.5%
Unadjusted; reflects role composition
Above Minimum Wage
All
In every country of operation
Management
10
8 male / 2 female · Ratio 0.25

Training hours (B10 §42d): Average annual training hours per employee broken down by gender will be reported from FY 2026.

Our Core Values
A
Agile

We adapt quickly and move with purpose.

O
Observant

We listen, learn, and notice what matters.

A
Approachable

We are open, honest, and easy to work with.

R
Responsible

We take ownership and stand behind our commitments.

Sperre office
C6/C7, B11 — Governance & Ethics

Zero incidents.
Full transparency.

Code of Conduct Compliance
CategoryStatus
Child labourYES
Forced labourYES
Safe working conditionsYES
Freedom of associationYES
DiscriminationYES
Living wageYES
B11 — Corruption & Bribery
Incidents
0
Fines
0
Convictions
0
Whistleblower
0

We comply with Norway's Transparency Act and conduct annual questionnaires and audits across our key supplier relationships. A more systematic digital platform for human rights monitoring is being built for 2026.

Whistleblowing

We have a dedicated whistleblowing procedure guiding our employees in how to register events. For external stakeholders, we provide an open channel via whistleblowing@sperre.com. All reports are handled confidentially and in accordance with Norwegian law.

C4 — Climate Risks

We've taken an initial look at our climate-related risks. The main ones are in the shipping sector — IMO decarbonisation targets and EU ETS are changing what our customers need. We see that as an opportunity as much as a risk. Physical risks at Ellingsøy are low. We'll build a more structured climate risk process in 2026.

C9 — Board Diversity
Board Members
7
4 male / 3 female
Female Ratio
0.75
Female-to-male
Revenue Exclusions
N/A
Not in excluded sectors
Product Safety
Product Recalls
0
No recalls in 2025
Information Security
Security Breaches
0
No breaches in 2025
Looking Forward

Built to last.
Committed
to improve.

Five reports in. We're proud of what we've built, and honest about what still needs to improve. Below are our priorities for 2026.

Improve Scope 3 data quality
Explore methodologies for estimating Category 11 (use of sold products).
Set formal GHG reduction targets C3
Scope 1, 2 and 3 targets to be established.
Build product-level carbon footprints B7 §38c
Structured weight data for all components being implemented.
Formal climate risk assessment C4
Build a structured TCFD-aligned climate risk and opportunity assessment.
Track training hours by gender B10 §42d
Systematic tracking by gender to be implemented.
Report back — transparently, and on time
Our sixth report will close these gaps and build on what we've learned. Same honesty, better data.
VSME Comprehensive — Full Disclosure Index

Complete datapoint index.

A complete overview of all VSME datapoints — what we've reported, what's partial, and what's planned for 2026.

CodeDisclosureKey Data / FindingStatus
B1Basis for PreparationOption B; consolidated; AS (Aksjeselskap); 5 entities; FY 2025Reported
C1Strategy & Business ModelMaritime tech (NACE 28.130); 5 locations with geolocation; ~200 suppliersReported
B2/C2Policies & Strategy4 material topics via DMA; policies available on request; ISO portfolioReported
B3Energy ConsumptionTotal: 3,114 MWh; Renewable: 94%; Fuel: 27 MWhReported
B3Scope 1 GHG5.87 tCO₂e — company vehiclesReported
B3Scope 2 GHG (loc.-based)40.1 tCO₂e — purchased electricity, all locationsReported
B3Scope 3 GHG13,411 tCO₂e (8 categories assessed); Cat. 11 pendingReported
B3GHG Intensity0.62 tCO₂e/mEUR (Scope 1+2)Reported
B3GHG Reduction TargetsNot yet established — planned 20262026
B4Air PollutionNo permit-based reporting obligationReported
B5BiodiversityNo sites in/near sensitive areas — N/AN/A
B6Water Withdrawal1,245 m³ total; no high water-stress areasReported
B7Waste — Hazardous65,069 kg reported to authoritiesReported
B7Waste — Non-Hazardous296,306 kg; 67% recycling; 92% sortingReported
B7Mass Flow of MaterialsData collection being implemented 20262026
B8Workforce — General136 FTE; perm: 124.4; temp: 11.6Reported
C5Additional Workforce10 mgmt: 8M/2F; turnover 6.24%Reported
B9Health & Safety6 accidents; 0 fatalities; rate 5.25/200k hrsReported
B10RemunerationAbove-minimum all countries; 21.5% gender pay gapReported
B10Training HoursHours by gender not yet tracked2026
C3GHG Reduction TargetsNo formal targets — to be established 20262026
C4Climate RisksInitial review completed; formal assessment 2026Partial
C6Human Rights PoliciesCoC: YES on all 6 categoriesReported
C7Severe Human Rights IncidentsNO confirmed incidentsReported
B11Corruption & Bribery0 incidents; 0 fines; 0 convictionsReported
C8Revenue ExclusionsNot in excluded sectorsN/A
C9Board Gender Diversity7 members: 4M/3W; ratio 0.75Reported
Reported Fully disclosed
Partial Partially reported
2026 Planned next cycle