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ESG Report Orcan Energy


Orcan Energy publishes its first-ever ESG Report. The two new Article 9 Funds backing Orcan Energy in 2022 have already been a testament to the sustainability of the company. With the ESG Report for 2022, Orcan Energy now proactively showcases its positive impact. We took the opportunity and had CEO and Co-Founder Andreas Sichert sit down together with Nicolas Lepareur, Managing Partner of Orcan Energy’s Article 9 Fund investor TiLT Capital Partners (Siparex Group).


Why have you decided to publish your first ESG Report right now?

Andreas Sichert: Sustainability has always been a guiding principle for our business. We founded the company to make a change. Our innovative waste heat recovery technology has since then supported industries worldwide to reduce emissions and foster a more sustainable future. At the same time, our product always is an economically attractive solution for the clients, a win-win. With our late-stage growth round one year ago, we welcomed two new Article 9 Funds highlighting these achievements and the potential to drive a just transition to net zero. Thus it was just a logical and consequent step for us to present our unwavering commitment to sustainability in an ESG Report.


What does an Article 9 Fund entail?

Nicolas Lepareur: With the Sustainable Finance Disclosure Regulation (SFDR), the European Union introduced a unique framework that mandates investors to classify their funds based on the level of ESG commitment within their investments. The SFDR has three categories: Article 6, Article 8, and Article 9. To qualify as the “greenest” Article 9 Fund, investors must prove that sustainability is a primary objective of the fund’s investments and that they invest in companies addressing ESG criteria: environmental impact, social aspects, and good governance. The framework aims at transparency, meaning we must disclose how our investments qualify as environmentally sustainable.


Is the publication of such an ESG Report mandatory or still voluntary?

Andreas Sichert: Publishing an ESG Report is fully voluntary for us right now. Nonetheless, as a scaling business with shareholders on board who share our vision and dedication, we think this is the right time for us to also talk about our ESG impact publicly. We have now formalised our commitment to sustainability by introducing concrete ESG targets to complement our financial targets. The ESG targets are designed to uphold and enhance our positive impact on society and the environment.


From your shareholder’s perspective, what is the greatest opportunity for Orcan Energy when it comes to sustainability?

Nicolas Lepareur: As a climate tech company, the impact Orcan Energy can deliver is by deploying its technology at scale. With our fund, we want to support climate tech companies to enable the rest of the economy to decarbonise. That is exactly what we see here. The more Orcan Energy heat-to-power modules installed, the better for the environment. The good thing is: There is no trade-off between financial performance and ESG performance. For Orcan Energy as well as for their clients, heat-to-power solutions will enhance both.

Andreas Sichert: Legislators are also seeing the evident advantages of energy efficiency measures. The new Energy Efficiency Act in Germany, for example, obligates companies to utilise their unavoidable waste heat. There is no second opinion: Waste heat recovery is a key solution to reducing carbon emissions and increasing a company’s competitiveness at the same time.


Find the summary of our ESG Report 2022 here.