Last checked at 17 Aug 2021 07:00
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. It forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
17 August 2021
Insig AI plc
("Insig AI" or the "Company")
Insig to partner with CarVal to develop a new line of high yield ("HY") and investment grade ("IG") product lines
Insig AI plc (AIM:INSG), the data science and machine learning solutions company serving the asset management industry, is delighted to announce that CarVal Investors, L.P. ("CarVal"), a global alternative investment manager, and Insig AI Corporation, a wholly owned subsidiary of the Company, have entered into binding heads of terms ("Heads of Terms") for Insig AI to partner with CarVal to develop a new line of HY and IG ESG products, as part of the CarVal Clean product line.
This will mark the second deployment of Insig AI's and CarVal's jointly developed ESG technology. This comes as the demand for data-led ESG investment strategies that provide transparent and evidence-based ESG scoring, continues to grow.
Steve Cracknell, Chief Executive of Insig AI, said:
"This partnership and our ability to help CarVal accelerate the development of their CarVal Clean HY/IG product lines demonstrates the speed and scale at which a company can operate when it underpins its strategy with advanced machine learning technology.
The partnership nature of today's agreement with an asset manager of CarVal's stature is the most exciting development in our history. We are ideally positioned, at the exact intersection of smart investment strategy and advanced AI technology. The opportunities to innovate with new product lines and income streams are vast. We look forward to developing our partnership with CarVal and delighted to support the CarVal Clean strategy."
This announcement has been approved by Steve Cracknell, CEO, on behalf of the Company.
For further information, please visit www.insg.ai, or contact:
Insig AI Plc Steve Cracknell, CEO | Via SEC Newgate |
Zeus Capital Limited (Nominated Adviser & Broker) David Foreman / James Hornigold
|
+44 (0) 203 829 5000 |
SEC Newgate (Financial PR) Robin Tozer / Tom Carnegie / Richard Bicknell | +44 (0) 7540 106 366 insigai@secnewgate.co.uk |