Former BP boss Lord Browne is heading back to the stock market as chair of a tech firm that enables shipping to pass without breaching sanctions or local or international regulations.
Windward Ltd has already raised £34.5mln at 155p per share from investors such as Gresham House and Premier Miton and will join AIM with a value of around £127mln.
Customers include oil majors including Browne’s old firm, Shell and US agencies including the Department of Defense and Homeland Security
Founded by two former Israeli naval officers, Ami Daniel and Matan Peled, Windward uses predictive AI technology to provide real-time information for ships on their locations and safe routes for passage.
Contract revenues in the year to end September 2021 were US$19.7mln, with growth between 2017 and now at 30% per year on average.
Daniel said: “The maritime trade industry is vast and complex with multiple stakeholders and data visibility is low. Our platform shines a light on the industry.”