Contract Win with Peninsula Petroleum

Windward Ltd.

08 August 2023

 

8 August 2023

Windward Ltd.

("Windward", "the Company")

Contract Win with Peninsula Petroleum

Windward (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^th package of sanctions 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)	[phone]
Simon Bridges / Andrew Potts
Alma PR	[phone]
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/    

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.

 

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