Windward Ltd. Contract Win with a European National Coastguard (3906U)
November 23 2023 - 1:00AM
UK Regulatory
TIDMWNWD
RNS Number : 3906U
Windward Ltd.
23 November 2023
23 November 2023
Windward Ltd.
("Windward", "the Company")
EUR3.2m Contract Win with a new European national coastguard
customer
Windward (LON: WNWD), the leading Maritime AI company, is
pleased to announce the signing of a five-year contract with a
European national coastguard ("the Customer"). The contract has a
total value of EUR3.2m (c. US$3.5m) which is expected to be paid in
full up front, further strengthening the Company's cash position,
while the revenue will be recognised over the course of the
contract, adding approximately $700k per year to Windward's Annual
Contract Value.
The contract, which was won in a competitive tender against
international competition, will see Windward's maritime AI
technology deployed by the Customer to protect against the
increasing sophistication of maritime bad actors.
The Company is trading comfortably in line with market
expectations and continues to see a strong pipeline. As announced
on 9 October 2023, Windward's offices within Israel remain fully
operational.
Ami Daniel, Co-Founder and CEO of Windward, commented:
"The signing of this five-year contract with a European
coastguard underlines the growing need for Windward's technology in
advancing maritime security through our A.I. driven platform. This
agreement not only underscores recognition of our capabilities but
further contributes to our cash position and Annual Contract Value,
and provides further predictable revenue.
As we continue to deploy our solution to safeguard against
evolving threats, we see a robust pipeline of opportunities driving
our success. We remain confident of further growth into 2024 and
the strengthening of our relationships with existing
customers."
For more information, please contact:
Windward Ltd. Via Alma
Irit Singer, CMO
Canaccord Genuity (Nominated Adviser
& Broker) +44(0)20 7523 8000
Simon Bridges / Andrew Potts
Alma Strategic Communications +44(0)20 3405 0205
Caroline Forde / Kieran Breheny
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 360deg view of the maritime ecosystem and
its broader impact on safety, security, finance, and business. For
more information visit: https://windward.ai/ .
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