RCS - Windward Ltd. - Windward Expands AI Insights to Manage IUU Fishing

WindwardAnnouncement

17/05/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220517:nRSQ6739La&default-theme=true

RNS Number : 6739L  Windward Ltd.  17 May 2022

17 May 2022

 

Windward Ltd.

("Windward", "the Company" or "the Group")

 

Windward Expands its AI insights to Manage Illegal, Unregulated, and
Unreported (IUU) Fishing

Windward's AI platform will provide law enforcement and government agencies a
holistic view of the implications of IUU fishing

 

London, UK, May 17, 2022 - Windward (https://www.windward.ai) (LSE: WNWD),
the leading Maritime AI company, announced today the expansion of its maritime
risk Insights platform to include illegal, unregulated, and unreported (IUU)
fishing. The expansion will allow new and existing customers, including law
enforcement and government authorities to have a comprehensive view of IUU
fishing related risks through AI-powered behavioural models that analyse and
flag all fishing vessels and supporting fleets involved.

 

IUU fishing is one of the greatest threats to marine ecosystems and fish-based
economies to the extent that it has replaced
(https://www.uscg.mil/iuufishing/) piracy as the top maritime security threat
by the US Coast Guard. IUU fishing has a significant environmental impact with
an estimated
(https://www.pewtrusts.org/en/research-and-analysis/articles/2021/07/29/to-better-fight-illegal-fishing-governments-advance-information-sharing-and-capacity-development#:~:text=Illegal%2C%20unreported%20and%20unregulated%20(IUU,caught%20ocean%20fish%20every%20year.)
fifth of fish being captured illegally, a significant threat to the marine
ecosystem and survival of fish species.

 

However, the implications of IUU fishing go beyond environmental concerns into
economic and geopolitical issues. In recent years, domestic and long-distance
fishing fleets have become tools used by nations for maintaining presence,
asserting power, and enabling geopolitical expansion. It is therefore critical
for authorities to closely monitor these fishing fleets with a clear overview
of all actors involved including connected countries, companies, and vessel
owners.

 

Windward's behaviour-based model, powered by cutting edge AI and domain
expertise, is designed to help law enforcement entities and intelligence units
look further than basic monitoring of illegal fishing. Windward's AI insights
help support investigations of the broader criminal and political implications
of such fishing operations including human trafficking, food fraud, tax
evasion, and forced labour violations.

 

Matan Peled, Co-Founder and Head of US Business at Windward said:

 

"Illegal fishing is a major concern in and of itself, but it's also a symptom
of other issues plaguing the maritime industry. Fishing ships that engage in
IUU fishing are quite often involved with slave labour and other criminal
activity, in some cases on behalf of foreign governments encroaching on other
sovereign governments' exclusive economic zones.

 

Governmental authorities need to move beyond siloed methods of maritime domain
awareness and gain a holistic view of malignant actors to mitigate the
geopolitical, economic, and environmental risks involved with IUU fishing."

 

Windward's AI platform is powered by advanced machine learning and behavioural
analytics models, empowering its clients across the government, finance,
shipping, energy sectors, and beyond to optimize business practices and
efficiently navigate all aspects of maritime risk in real-time.

 

For more information, please contact:

 

 Windward                                             Via Alma PR
 Ami Daniel, CEO
 Ofer Segev, CFO

 Canaccord Genuity (Nominated Adviser & Broker)       +44(0)20 7523 8000
 Simon Bridges / Andrew Potts

 Alma PR                                              windward@almapr.co.uk (mailto:windward@almapr.co.uk)
 Caroline Forde / Kieran Breheny / Hilary Buchanan     +44(0)20 3405 0205

 

About Windward

 

Windward (LON:WNWD), is the leading Predictive Intelligence company fusing AI
and big data to digitalize the global maritime industry, enabling
organizations 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. The company is publicly traded on the London Stock Exchange. For
more information visit  windward.ai (https://windward.ai/) .

 

Reach

This is a Reach announcement and the information contained is not considered
to be material or to have a significant impact on management's expectations of
the Company's performance. Reach is an investor communication service aimed at
assisting listed and unlisted (including AIM quoted) companies to distribute
non-regulatory news releases into the public domain. Information required to
be notified under the AIM Rules for Companies, Market Abuse Regulation or
other regulation would be disseminated as an RNS regulatory announcement and
not on Reach.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRASFUFIMEESEII