RCS - Windward Ltd. - Windward signs first Flag Registry customer

WindwardAnnouncement

25/05/2022 08:31

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220525:nRSY6595Ma&default-theme=true

RNS Number : 6595M  Windward Ltd.  25 May 2022

 

Windward Ltd.

 

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

 

Windward signs first Flag Registry customer

 

Sierra Leone Maritime Administration partners with Windward to enhance
Screening Processes and Maintain a High Quality Vessel Registry 

 

London, UK, 24 May, 2022 - Windward (https://www.windward.ai/) (LSE:
WNWD), a leading Maritime AI company, announced today that it has partnered
with the Sierra Leone Maritime Administration
(https://www.slmarad.com/en/home) (SLMARAD), an open registry which operates
and governs the Sierra Leone flag registry. This is the first flag registry to
sign with Windward, representing an expansion into a new area of the maritime
industry.

 

SLMARAD will use Windward's AI-powered platform to screen all existing and
incoming vessels in its registry, allowing the administration to maintain a
high quality of registrants and ensure the safety of life at sea and
protection of the marine environment.

 

Ami Daniel, Co-Founder & CEO of Windward said:

"We are excited to work with the Sierra Leone flag registry to improve its
screening processes and reputation in the global trade community.

 

The AfCFTA* agreement has increased the economic potential of Africa in
maritime trade and ensuring the safety and reputation of vessels sailing under
African flags is essential to conduct trade on a global scale." 

 

Marianna Fournari, General Manager of SLMARAD said:

"We are thrilled to be partnering with Windward, the leading Maritime AI
solution in the industry. Prior to using Windward's platform we could only
monitor vessels with Automatic Identification System data. The platform allows
us not only to investigate the vessels in our registry with ease but gives us
an extra layer of insights into vessel behaviour that only advanced AI and
over a decade of maritime expertise can provide." 

 

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

 

Flag registries with a poor rating can be classified as high risk,
discouraging new vessels from sailing under that flag and other stakeholders
from conducting business with vessels under that flag. Flag registries
therefore need to create and maintain a good reputation to conduct business
with confidence. 

 

SLMARAD will use Windward's system to investigate both new and existing
vessels in its fleet to determine which vessels are engaging in illicit
behaviour including illegal fishing, sanctions busting, and drug smuggling,
amongst others. The AI-powered platform will optimise SLMARAD's registration
process with enhanced due-diligence procedures, ensuring that incoming vessels
are safe to conduct business with. The platform will also be used to
streamline the yearly re-application process for existing vessels and ensure
that vessels currently sailing under the Sierra Leone flag do not conduct any
deceptive shipping practices. 

 

* The African Continental Free Trade Area is a free trade area founded in
2018, with trade commencing as of 1 January 2021. It was created by the
African Continental Free Trade Agreement among 54 of the 55 African Union
nations.

 

For more information, please contact:

 Windward                                             Via Alma PR
 Irit Singer, CMO                                      

 Canaccord Genuity                                    +44(0)20 7523 8000

  (Nominated Adviser & Broker)
 Simon Bridges / Andrew Potts                          

 Alma PR                                              +44(0)20 3405 0205 
 Caroline Forde / Kieran Breheny / Hilary Buchanan     

 

About Windward

Windward (https://windward.ai/) (LSE:WNWD), a publicly-traded company on the
London Stock Exchange, is the leading Maritime AI company, 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. For more information visit: https://windward.ai/
(https://windward.ai/) .

 

 

About Sierra Leone Maritime Administration

Sierra Leone Maritime Administration (https://www.slmarad.com/en/home)
(https://www.slmarad.com/en/home) is an open registry accepting worldwide
shipowners and various type of vessels that meet the Sierra Leone standards.
Sierra Leone Flag has seen a tremendous improvement through the years after
implementing efficient control mechanisms and smart policies. It has been
transformed into a digitalized smart ship registry #movingforward with the
highest quality, transparency and safety.

 

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  NRABUGDUDUDDGDS