WKSP | Jotup

WORKSPORT ANNOUNCES PRICING OF APPROXIMATELY $2.8 MILLION REGISTERED DIRECT OFFERING & CONCURRENT PRIVATE PLACEMENT PRICED AT-THE-MARKET UNDER NASDAQ RULES

Retrieved on:

Monday, March 18, 2024

WKSP, Exercise, Form, Act, Sale, Prospectus, Regulation D, Security (finance)

In a concurrent private placement, the Company also agreed to issue and sell to the investor warrants to purchase up to 7,700,264 shares of common stock.

Key Points:

In a concurrent private placement, the Company also agreed to issue and sell to the investor warrants to purchase up to 7,700,264 shares of common stock.
The combined effective offering price for each share of common stock (or pre-funded warrant in lieu thereof) and accompanying warrant is $0.74, priced at-the-market under Nasdaq rules.
The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $2.8 million before deducting the placement agent’s fees and other estimated offering expenses payable by the Company.
The offering is expected to close on or about March 21, 2024, subject to the satisfaction of customary closing conditions.

Worksport Announces SOLIS Solar Cover Availability for Ford F-150 Lightning, Pioneering Sustainable Off-Grid Energy Solutions for EV Pickup Trucks

Retrieved on:

Wednesday, February 21, 2024

Lightning, Ford F-150 Lightning, Ford, WKSP, SOLIS, Solar energy, Renewable energy

This pioneering product signifies a significant step forward in sustainable automotive solutions, providing F-150 Lightning owners with the ability to harness solar energy for off-grid use.

Key Points:

This pioneering product signifies a significant step forward in sustainable automotive solutions, providing F-150 Lightning owners with the ability to harness solar energy for off-grid use.
Once a SOLIS model is developed and optimized for the Ford F150 Lighting, Worksport’s engineering team intends to begin exploring the feasibility and possibility of integrating the SOLIS Solar Tonneau Cover with the vehicle’s charging system.
In addition to the SOLIS solar cover, Worksport plans to offer the SOLIS and COR battery bundle for the F-150 Lightning, offering a complete solution for clean, off-grid energy utilization.
“Worksport is at the forefront of integrating solar technology with automotive accessories, and the SOLIS solar cover for the Ford F-150 Lightning is a testament to our innovative spirit and dedication to sustainability,” said Steven Rossi , CEO of Worksport.

Infineon and Worksport collaborate to reduce weight and cost of portable power stations with GaN

Retrieved on:

Wednesday, February 7, 2024

Carbon, Infineon Technologies, Automotive industry, Gallium nitride, CO2, Silicon, Carbon dioxide, WKSP, Semiconductor, Video game

Worksport will use Infineon’s GaN power semiconductors GS-065-060-5-B-A in the converters for its portable power stations to increase efficiency and power density.

Key Points:

Worksport will use Infineon’s GaN power semiconductors GS-065-060-5-B-A in the converters for its portable power stations to increase efficiency and power density.
Enabled by Infineon’s GaN transistors, the power converters will be lighter and smaller in size with reduced system costs.
In addition, Infineon will support Worksport in the optimization of circuits and layout design to further reduce size and increase power density.
“With our GaN power semiconductors we enable Worksport to create the next generation portable power stations that users require.”
Infineon’s GS-065-060-5-B-A is an Automotive-grade 650 V enhancement mode GaN-on-Silicon power transistor.

Worksport Subsidiary Terravis Energy Starts To Build Heat Pump Supply Chain

Retrieved on:

Tuesday, January 30, 2024

West Seneca, New York, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq:WKSP; WKSPW) (“Worksport”) and its subsidiary, Terravis Energy, Inc. (“Terravis” or the “Company”) are pleased to announce that Terravis has begun to consider partners in a supply chain for the Cold Climate, Air Source Residential Heat Pump (CCHP).

Key Points:

West Seneca, New York, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq:WKSP; WKSPW) (“Worksport”) and its subsidiary, Terravis Energy, Inc. (“Terravis” or the “Company”) are pleased to announce that Terravis has begun to consider partners in a supply chain for the Cold Climate, Air Source Residential Heat Pump (CCHP).
Lorenzo Rossi attended the AHR Expo with a strategic objective – meeting suppliers and instituting a commercial supply chain for the revolutionary CCHP.
“We have reached a tipping point in the development of the Terravis Heat Pump , as it has gone through some ultra-demanding tests in our Toronto R&D facility’s cutting-edge ‘Arctic Chamber’ and is now undergoing extra tests.
As always, Worksport will continue to update investors and shareholders on our progress with all products as soon as information is available.

Worksport Announces Expansion of B2B Dealer Network and Upcoming Availability on Amazon, eBay, Walmart Marketplaces

Retrieved on:

Monday, January 29, 2024

F series, AL3, RAM, Business, Gladiator, Ford, B2B, General Motors, GMC, GMC Sierra, EBay, WKSP, Growth, Automotive industry

Worksport anticipates beginning its sales efforts, developing its B2B network with its first client meetings planned in early February.

Key Points:

Worksport anticipates beginning its sales efforts, developing its B2B network with its first client meetings planned in early February.
Worksport is strategically focused on cultivating robust and lucrative partnerships to seize a share of the estimated $3 billion Tonneau Cover Market.
However, in a progressive step forward, this product is expected to be available on major platforms such as Amazon, eBay, and Walmart, via B2B resellers in its rapidly expanding dealer B2B dealer network.
Worksport's focus on expanding its dealer network and enhancing product accessibility underlines its commitment to quality, innovation, and customer satisfaction.

Worksport Unveils AL3 PRO Hard-Folding Tonneau Cover - A Game-Changer in Pickup Truck Accessories - Proudly Made in the USA

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Wednesday, January 24, 2024

Diamond, Weather, Snow, F150, Policy, Ford F-Series, Jeep, RAM, AL3, Element, Aluminium, Ridge, Honda Ridgeline, Ford, General Motors, GMC, GMC Sierra, Drainage, Longevity, WKSP, Rain, Automotive industry

The AL3 PRO hard-folding tonneau cover has been meticulously engineered to cater to the needs of the most discerning pickup truck owners.

Key Points:

The AL3 PRO hard-folding tonneau cover has been meticulously engineered to cater to the needs of the most discerning pickup truck owners.
Steven Rossi , CEO of Worksport, expressed his enthusiasm: “We are immensely proud to unveil the features of the AL3 PRO hard-folding tonneau cover.
Features and Benefits of the AL3 PRO Flush-Mounted, Hard-Folding, Trifold Tonneau Cover:
The pinnacle of precision durability in a low profile hard trifold tonneau cover.
Crafted with meticulous attention to detail, the AL3 PRO utilizes an advanced, semi-automated manufacturing process that guarantees quality and precision in every cover produced.

Worksport Announces SOLIS Solar Truck Cover will be Available for FORD, RAM (Stellantis) & GM

Retrieved on:

Thursday, January 18, 2024

RAM, GM, Stellantis, General Motors, WKSP, Renewable energy

West Seneca, New York, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) proudly announces that the SOLIS Solar Cover will be available for Ford, RAM (Stellantis) and General Motors (GM) light pickup trucks.

Key Points:

West Seneca, New York, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) proudly announces that the SOLIS Solar Cover will be available for Ford, RAM (Stellantis) and General Motors (GM) light pickup trucks.
Simultaneous with this message, Worksport announces it has successfully placed its first substantial order of solar panels, specifically designed for the SOLIS Solar Cover.
Concurrent with the arrival and testing of the solar panels, Worksport's manufacturing facility is diligently preparing for the full-scale production of the SOLIS Solar Cover.
The SOLIS Solar Cover is a green solution in the automotive industry, offering an eco-friendly, efficient, and innovative solution for vehicle power needs.

Worksport Ltd. Advances Toward COR Alpha Release: Purchases All Inventory Parts For Alpha Release Production

Retrieved on:

Tuesday, January 16, 2024

Optimism, WKSP, Software, Semiconductor, Renewable energy

West Seneca, New York, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) proudly announces that it has purchased the necessary inventory parts for the highly anticipated Alpha Release of its innovative COR Portable Energy Storage System.

Key Points:

West Seneca, New York, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) proudly announces that it has purchased the necessary inventory parts for the highly anticipated Alpha Release of its innovative COR Portable Energy Storage System.
This purchase includes all critical components, such as power switches and microcontrollers, the main semiconductors essential for the functionality of Worksport's proprietary systems.
The Company's inventory purchase underscores its confidence in the forthcoming test results and its commitment to a swift market introduction.
"Securing these components not only highlights our proactive approach to supply chain management but also positions us a step ahead as we prepare for the exciting Alpha Release," said Worksport CEO Steven Rossi .

Worksport Ltd. Announces Second Soft Cover Factory and Increases Production in Buffalo, New York

Retrieved on:

Thursday, January 11, 2024

EV, WKSP, SOLIS, Growth

West Seneca, New York, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) is announcing today plans to expand soft folding tonneau cover production to a second overseas factory.

Key Points:

West Seneca, New York, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) is announcing today plans to expand soft folding tonneau cover production to a second overseas factory.
This is in anticipation of expected additional demand as Worksport begins to ramp up sales efforts within the USA and Canada.
In line with this growth, the Company is also ramping up production capacity for its hard folding tonneau covers at its state-of-the-art facility in Buffalo, New York.
Production at a second factory overseas is a testament to Worksport's global vision and operational excellence.

Residential Heat Pump Prototype Shows Exciting Early Test Results Beating Current Market Standards – Terravis Moves Heatpump To Commercial Design Stage

Retrieved on:

Tuesday, January 9, 2024

Weather, Temperature, Heat, Heat pump, Environment, Carbon, Cold climate, CCHP, WKSP, SOLIS, News, Atmosphere

These early test results have surpassed management’s expectations, prompting Terravis to move to the commercial design stage for this product after further rigorous testing.

Key Points:

These early test results have surpassed management’s expectations, prompting Terravis to move to the commercial design stage for this product after further rigorous testing.
The forthcoming Terravis heat pump, a notable achievement in modern engineering, is set to redefine the boundaries of heating technology without the use of supplemental heating coils.
“Terravis’ Cold Climate Heat Pump is intended for use in the residential home heating and cooling market, and to operate seamlessly even under the most daunting conditions,” said Terravis CEO Lorenzo H. Rossi.
Terravis Energy is excited to invite interested parties to explore potential commercial opportunities associated with our forthcoming Cold Climate Heat Pump system.