Welcome to our dedicated page for Worksport, Ltd. news (Ticker: WKSP), a resource for investors and traders seeking the latest updates and insights on Worksport, Ltd. stock.
Worksport Ltd, under its subsidiaries, is a leading designer, developer, and manufacturer of tonneau covers, solar integrations, and hydrogen-based green energy solutions. The company's innovative products cater to the automotive and clean energy industries, with a focus on sustainability and eco-friendly solutions. Worksport has reported significant revenue growth, operational successes, and strategic collaborations, positioning itself as a key player in the market.
Worksport's product lineup includes soft vinyl and hard aluminum tonneau covers, as well as upcoming first-to-market solar tonneau covers and portable energy systems. The company's recent financial results for Q1 FY 2024 showcased impressive revenue increases, operational efficiencies, and gross margin improvements. Worksport's strategic investments in production, inventory, and expansion highlight its commitment to growth and innovation.
With a robust intellectual property portfolio, Worksport is well-positioned to lead the market with cutting-edge technologies and groundbreaking products. The company's partnerships, distribution networks, and growth forecasts underscore its trajectory towards transformative success in the automotive and clean energy sectors.
Worksport Ltd (Nasdaq: WKSP; WKSPW) announced that CEO Steven Rossi will present at the Dawson James Securities Small Cap Growth Conference on October 21, 2021, at the Wyndham Grand Hotel in Jupiter, Florida. The presentation will cover the company's innovative solar panel integration into their tonneau cover business and the Terravis System's pre-order availability. Worksport’s collaboration with Ontario Tech University and Greatcell Solar Italy aims to enhance their sustainable solutions. The company is committed to decarbonizing transportation and creating clean energy technologies.
Worksport Ltd (Nasdaq: WKSP; WKSPW) announced a collaboration with Greatcell Solar Italy to innovate clean energy solutions. This partnership aims to enhance the Terravis solar systems with high-efficiency Perovskite Solar Cells (PSC), which reportedly offer double the energy conversion efficiency compared to traditional panels. Greatcell, an established provider with a strong IP portfolio in 3rd-generation solar technologies, will support Worksport's commitment to clean transportation. The collaboration is seen as a strategic step towards developing advanced solar harvesting solutions.
Worksport Ltd (Nasdaq: WKSP; WKSPW) has appointed Sengkee Ahn and Mike Timmons to its Advisory Board, aiming to enhance their clean energy solutions in the automotive market. Ahn, with extensive experience in corporate development, is expected to open strategic avenues for the company. Timmons, known for his operational insights in the automotive sector, will assist in market strategy and innovation. Worksport focuses on solar and hydrogen-based technologies, positioning itself for significant growth as it approaches production manufacturing.
Worksport Ltd (Nasdaq: WKSP; WKSPW) has launched a pre-order portal for its innovative solar-integrated tonneau cover and COR mobile energy storage system (ESS). The portal enables customers worldwide to secure these products ahead of the large-scale production set to begin in Q1 2022. The Terravis system harnesses solar energy for charging, with features like 'hot-swap' technology for quick battery changes. Management anticipates significant growth in revenue streams as the company aims to tap into diverse markets, including emergency and military applications.
Worksport Ltd (Nasdaq: WKSP; WKSPW) announced that CEO Steven Rossi will present at the Benzinga Electric Vehicles Conference on September 22, 2021, at 11:10 am. The event is virtual, and interested investors can register to view the presentation online. Additionally, management will conduct one-on-one meetings with institutional investors. Worksport focuses on designing and manufacturing tonneau covers and solar energy solutions, aiming to meet the rising demand for clean energy technologies in the automotive sector.
Worksport Ltd (Nasdaq: WKSP; WKSPW) has announced the countdown to the launch of its Terravis System, a solar-integrated tonneau cover and COR mobile Energy Storage Systems (ESS). Pre-orders will begin on September 21, 2021, at 8:00 AM EST via goterravis.com. The Company expects high demand, with management projecting annual revenues in the 9-figure range. Financing options will be available for customers. The Terravis System aims to broaden Worksport's revenue streams significantly.
Worksport Ltd (Nasdaq-CM: WKSP; WKSPW) announced a collaboration with Ontario Tech University to develop non-parasitic hydrogen solutions through its subsidiary, Terravis Energy. This $2.3 million project is jointly funded by Worksport and the Canadian Government and aims to create green energy solutions over a two-year span. The project involves R&D teams and access to the Ontario Tech-Automotive Center of Excellence, facilitating innovations in clean energy and hydrogen fuel technology.
Worksport Ltd (Nasdaq: WKSP; WKSPW) announced its participation in the H.C. Wainwright 23rd Annual Global Investment Virtual Conference from September 13-15, 2021. The company, focusing on solar-based accessories for light-duty trucks, is collaborating with Ontario Tech University for clean energy research through its subsidiary Terravis Energy, Inc. CEO Steven Rossi will discuss partnership discussions with a multinational OEM and a notable EV start-up during the conference.
Worksport Ltd. (Nasdaq: WKSP, WKSPW) announced the closing of an additional sale of 210,909 shares at $5.49 each, generating approximately $1.2 million in gross proceeds. This sale stems from the underwriters’ over-allotment option related to a public offering completed on August 6, 2021. The total gross proceeds from this offering now reach around $19.2 million. The offering was managed by Maxim Group LLC.
Worksport Ltd (Nasdaq: WKSP, WKSPW) announced the formation of Terravis Energy, Inc., a wholly-owned subsidiary aimed at leading in the energy creation and storage markets. This decision came after significant research into solar and energy storage systems unveiled greater opportunities. Lorenzo Rossi has been appointed President & CEO, emphasizing innovation in renewable energy. The energy storage market is projected to reach $19.7 billion by 2027, with a 20% CAGR. CEO Steven Rossi indicated plans for green energy solutions and hydrogen-based EV charging.
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