WKSP

Worksport Announces Strategic Partnership with NeuronicWorks to Assemble COR Battery System for Alpha Release and Full Production

Retrieved on: 
Wednesday, January 3, 2024
Partnership, WKSP, Alpha, SOLIS, Creativity

Along with supplying Worksport’s circuit boards for the COR hub, NeuronicWorks will perfect the construction of the full unit.

Key Points: 
  • Along with supplying Worksport’s circuit boards for the COR hub, NeuronicWorks will perfect the construction of the full unit.
  • Working together, Worksport and NeuronicWorks intend to implement a rigorous quality control process to ensure the highest quality standards.
  • “We will be able to consistently observe NeuronicWorks’ manufacturing our COR battery system.
  • Assembling the COR system in Canada in partnership with this leading electrical engineering company is a testament to our commitment to quality and sustainability.

Terravis Energy Begins Testing Prototype Residential Heat Pump at State-of-the-Art Testing Facility

Retrieved on: 
Tuesday, December 12, 2023
Atmosphere, Heat, Failure, WKSP, Cold climate, News, Temperature, SOLIS, Carbon, Heat pump

For the Heat Pump, Terravis executes detailed tests that monitor performance across a range of 12 temperature points from 14ºF (-10ºC) to -31ºF (-35ºC).

Key Points: 
  • For the Heat Pump, Terravis executes detailed tests that monitor performance across a range of 12 temperature points from 14ºF (-10ºC) to -31ºF (-35ºC).
  • Our heat pump’s goal is to provide heat to homes in as low -31ºF (-35ºC), which we believe will make us the most effective heat pump technology in the market.”
    An air source heat pump like the one Terravis is testing utilizes the phase change of a proprietary fluid to transfer heat.
  • “Terravis’ Cold Climate Residential Heat Pump is designed to save on operating costs, energy, and emissions.
  • Terravis Energy is excited to invite interested parties to explore potential commercial opportunities associated with our forthcoming Cold Climate Heat Pump system.

Worksport Expands Factory Production with Additional Assembly Line Producing Innovative Light Truck (Tonneau) Covers

Retrieved on: 
Thursday, December 7, 2023
Growth, WKSP, Citizenship, Automation, Alpha, SOLIS, Renewable energy

West Seneca, New York, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) is announcing the completion of its second assembly line for its innovative hard-folding covers. The company believes it is in a significant advancement for sustainable automotive innovation, marking a pivotal moment in the Company's expansion strategy. This development follows the Company's impressive 2,399% year-over-year revenue growth in Q3 2023 vs 2022 due the recent new US National After Market customer, a testament to its production capabilities and market demand.

Key Points: 
  • West Seneca, New York, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) is announcing the completion of its second assembly line for its innovative hard-folding covers.
  • The company believes it is in a significant advancement for sustainable automotive innovation, marking a pivotal moment in the Company's expansion strategy.
  • The completion of the second assembly line is a strategic step in fulfilling the substantial $16 million annual sales agreement recently announced .
  • Worksport recently initiated the test phase for its COR portable energy storage system, anticipating updates on an Alpha release soon.

Worksport Proudly Announces the COR System Will Be Assembled in Canada with Domestic and Foreign Parts

Retrieved on: 
Tuesday, November 28, 2023
WKSP, Partnership, Heel, SOLIS, Software, Renewable energy

West Seneca, New York, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) proudly announces that the COR battery system will be designed, developed, and assembled in Canada, combining domestic and international components.

Key Points: 
  • West Seneca, New York, Nov. 28, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) proudly announces that the COR battery system will be designed, developed, and assembled in Canada, combining domestic and international components.
  • This key collaboration will see the partnering manufacturer assembling the full COR unit in Canada, including the electronic boards for the COR inverter and hub.
  • "We are thrilled to take this step towards our goal of manufacturing the COR battery system within North America," stated Worksport CEO Steven Rossi.
  • This significant move follows closely on the heels of Worksport's announcement regarding the upcoming Alpha Release of the COR battery system.

Worksport Advances COR Battery Power Generator System to Test Phase in Anticipation of the Alpha Release

Retrieved on: 
Monday, November 20, 2023
WKSP, SOLIS, Software, Humidity

West Seneca, New York, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”), is proud to announce that its groundbreaking COR battery system has officially transitioned into the Test Phase. This significant progression marks the beginning of intensive testing, anticipating a battery solution that is resilient, durable, and perfectly suited to the diverse challenges of today’s dynamic environments.

Key Points: 
  • West Seneca, New York, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”), is proud to announce that its groundbreaking COR battery system has officially transitioned into the Test Phase.
  • The Company’s COR system can be used both within a pickup truck bed and independently without a pickup once it is released.
  • With a commitment to quality, toughness and innovation, Worksport’s Test Phase will see the COR battery system undergo:
    Performance evaluations in extreme heat and cold climates.
  • The commencement of the Test Phase aligns seamlessly with Worksport’s recent announcement of the COR system’s Alpha Release where the product will be placed in real-world scenarios.

Worksport Reports 2400% Q3 Revenue Growth YoY as the Company Initiates Production

Retrieved on: 
Wednesday, November 15, 2023
Sale, COR, Research, WKSP, SC4, SOLIS, Alpha, Growth, Knowledge, Life, Fine chemical, Renewable energy, Security (finance)

Key Q3 highlights include:

Key Points: 
  • Key Q3 highlights include:
    For Q3 2023, Worksport Ltd. reported a remarkable year-over-year total North American sales increase of approximately 2399%, with revenues rising from $18,350 in Q3 FY2022 to $458,483 in Q3 FY2023.
  • When accounting for just U.S. revenue, there was an impressive increase of 3359%, from $13,134 in Q3 FY2022 to $454,258 in Q3 FY2023.
  • “The Q3 revenue growth reflects Worksport’s growing production, and the start of large sales orders being fulfilled,” said Worksport CEO Steven Rossi .
  • Worksport has identified and penetrated new business-to-consumer and business-to-business sales channels.”
    Following the Company’s initiating manufacturing at its 222,000 sq.

Worksport Gears Up for Initial Alpha Release of its Pioneering COR Portable Energy Storage System

Retrieved on: 
Thursday, November 2, 2023
COR, WKSP, SOLIS, Element, CAD, Partnership, Research

West Seneca, New York, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) proudly announces it is preparing for an alpha release of its highly anticipated COR battery system .

Key Points: 
  • West Seneca, New York, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (“Worksport” or the “Company”) proudly announces it is preparing for an alpha release of its highly anticipated COR battery system .
  • In anticipation of the system’s alpha release, the Company is streamlining its supply chain, marked by the strategic forging of partnership agreements with esteemed global suppliers.
  • The Company expects this initial release of its COR battery system to serve as a preliminary user iteration prior to its anticipated mass-market release in North America, with future intentions of releasing the system in other key global markets.
  • As we are approaching alpha release of our COR battery system, which will complement our SOLIS solar cover , the horizon looks promising indeed."

Worksport Announces Pricing of Approximately $4.7 Million Registered Direct Offering & Concurrent Private Placement

Retrieved on: 
Tuesday, October 31, 2023
WKSP, Sale, SEC filing, Park Avenue, Regulation D, Telephone, Form, Attention, Exercise, Offering, Prospectus, The Act, Security (finance)

In a concurrent private placement, the Company also agreed to issue and sell to the investor warrants to purchase up to 7,000,000 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 7,000,000 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 $1.34.
  • The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $4.7 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 November 2, 2023, subject to the satisfaction of customary closing conditions.

Worksport Presents Uniquely Configured Bed Cover Model for Canadian Automotive Store Chain Following Recent $16 Million Annual Sales Agreement with U.S Brand

Retrieved on: 
Thursday, October 26, 2023
WKSP, Trust, OEM, Hyundai, Partnership, Video game, Renewable energy

The potential customer has an impressive annual sales volume surpassing $10 billion CAD.

Key Points: 
  • The potential customer has an impressive annual sales volume surpassing $10 billion CAD.
  • As it would be a private-label customer, the Company cannot disclose its name at this time.
  • This interest comes on the heels of executing a $16 million USD annual sales agreement for its hard-folding and soft-folding covers with a leading U.S. aftermarket reseller earlier this year.
  • Management believes that entering into yet another potential collaboration signals the robust demand and confidence in Worksport's cutting-edge truck bed covers.

Worksport Increases R&D for Terravis Energy Subsidiary’s Heat Pump Project

Retrieved on: 
Tuesday, October 24, 2023
WKSP, International Energy Agency Energy in Buildings and Communities Programme, Cold climate, US, SOLIS, Carbon, Atmosphere, COR, City, Marketing, International Energy Agency, Heat, Natural gas, Heating, ventilation, and air conditioning, Renewable energy

An air source heat pump, such as the one Terravis Energy is creating, utilizes the phase change of a special fluid to transfer heat.

Key Points: 
  • An air source heat pump, such as the one Terravis Energy is creating, utilizes the phase change of a special fluid to transfer heat.
  • When heating your home, the pump takes heat from the outdoor air and uses the phase change from liquid to gas to bring that heat indoors.
  • When cooling, it employs the opposite phase change, from gas to liquid, to move heat from inside your home to the outside.
  • “Most North American households depend on fossil fuel-powered central furnaces, which generate and blow air through duct systems,” said Terravis Energy CEO Lorenzo Rossi .