RCS - Windward Ltd. - Contract Win with Peninsula Petroleum

WindwardAnnouncement

08/08/2023 07:00

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RNS Number : 5726I  Windward Ltd.  08 August 2023

8 August 2023

Windward Ltd.

("Windward", "the Company")

Contract Win with Peninsula Petroleum

Windward (https://windward.ai/)  (LON: WNWD), the leading Maritime AI
company, is pleased to announce a contract with Peninsula Petroleum
("Peninsula"), the global leading independent supplier of marine energy, to
advance and automate Peninsula's compliance processes. Windward's platform
will enhance screening and due diligence procedures with AI-driven insights,
empowering Peninsula to conduct more business, with confidence in an
increasingly complex regulatory landscape.

The ongoing Russia-Ukraine war has precipitated the introduction of new
regulations by the Western world. Most recently, the EU Commission announced
its 11 (https://ec.europa.eu/commission/presscorner/detail/en/ip_23_3429) (th
(https://ec.europa.eu/commission/presscorner/detail/en/ip_23_3429) ) package
of sanctions
(https://ec.europa.eu/commission/presscorner/detail/en/ip_23_3429) which, for
the first time, allows ports to deny entry to vessels utilising deceptive
shipping tactics to circumvent sanctions. As such, counterparty due diligence
has become a necessity for any stakeholder in the maritime trade industry to
ensure they are not conducting business with bad actors. Embracing technology
is one of Peninsula's core pillars and in the world of bunker trading and
supply, when decisions need to be made within minutes, Windward provides
dynamic compliance feedback, which has a significant impact on decision making
processes.

Windward's Maritime AI insights will be integrated directly into Peninsula's
compliance processes via API, providing legal and risk functions with a bottom
line risk score and flagged risk indicators for all vessels they are
associated with. These valuable insights enable users to make go/no-go
decisions with fewer false positives, allowing them to maximise efficiency and
conduct more business.

Ami Daniel, Co-Founder and CEO of Windward, commented:

"As global regulations and sanctions become increasingly complex, it is
essential for stakeholders to stay ahead of the curve so they can conduct
business with greater confidence. In line with this trend, we are seeing a
growing number of companies across the industry turning to our Maritime AI to
make better, faster and more informed decisions, and help them mitigate risk
effectively."

"With our Maritime AI solution, Peninsula's legal and risk teams will be able
to bolster their existing compliance programs with unparalleled insights into
vessel activity, ownership structures, and company risks in real-time,
providing them a holistic and accurate view of maritime risk, and enabling
them to navigate the turbulent trade environment with ease. This will enhance
their day to day operations."

Alex Jamet, General Counsel of Peninsula, commented:

"Peninsula has always taken sanctions compliance very seriously, although
bunkering is currently "out of scope" of the 11th EU sanctions package, our
conservative approach to sanctions risk as well as its own self-sanctioning
led us on an extensive search for the most effective technology enhancement to
our existing procedures. Windward stood out as the clear best in class
solution to provide us with a thorough and accurate view of maritime risk.
Their advanced technology, comprehensive data coverage, and robust analytics
capabilities empower our risk functions to make prudent, accurate decisions to
rapidly support our global commercial teams."

Windward's Maritime AI platform is powered by advanced machine learning and
behavioural analytics models, providing customers with insights into vessel
behaviours, ownership structures, and company risks, and predicting in
real-time which companies and vessels are likely to be high risk.

The Company's behavioural models and risk indicators are constantly updated in
line with new regulations and behavioural patterns, ensuring that customers
are always one step ahead. Windward's solutions enable companies across the
maritime trade industry to streamline business operations.

For more information, please contact:

 Windward Ltd.                                       Via Alma PR
 Irit Singer, CMO
 Canaccord Genuity (Nominated Adviser & Broker)      +44(0)20 7523 8000
 Simon Bridges / Andrew Potts
 Alma PR                                             +44(0)20 3405 0205
 Caroline Forde / Kieran Breheny / Pippa Crabtree

About Windward

Windward (LSE:WNWD), a publicly-traded company on the London Stock Exchange,
is a leading Maritime AI company, enabling organisations to achieve business
and operational readiness. Windward's AI-powered solution allows stakeholders
including banks, commodity traders, insurers, and major energy and shipping
companies to make real-time, predictive intelligence-driven decisions,
providing a 360° view of the maritime ecosystem and its broader impact on
safety, security, finance, and business. For more information visit:
https://windward.ai/.

About Peninsula

Peninsula is a global leader in the supply of marine fuels, with an
international nexus and operations in all major world ports. They deliver
marine energy solutions from an integrated supply chain via a comprehensive
global trading network.

Peninsula performs more than 25,000 deliveries per annum and is a trusted
partner to over 2,000 customers in every corner of the globe.  Their
reputation for transparency, combined with a low risk tolerance, has garnered
support from a wide range of stakeholders who collectively acknowledge
Peninsula as a marine energy market leader.

https://www.peninsula360.com/

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