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.
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Worksport (WKSP) announces a securities purchase agreement with an institutional investor to buy 3,850,132 shares of common stock and warrants in a registered direct offering. The Company will also issue warrants to purchase up to 7,700,264 shares. The offering price is $0.74 per share, with gross proceeds estimated at $2.8 million. The warrants become exercisable after six months, expire in five and a half years, and have an exercise price of $0.74 per share.
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Worksport Ltd. (WKSP) announces the integration of Gallium Nitride (GaN) semiconductors in its products, aiming to revolutionize the power electronics industry. By partnering with Infineon Technologies AG, Worksport plans to enhance efficiency, performance, and reliability through GaN technology, offering cutting-edge solutions for the automotive sector.
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Worksport Ltd. (WKSP) announces the upcoming launch of its SOLIS Solar Cover and COR Battery System for pickup trucks. The products aim to provide off-grid power solutions for outdoor enthusiasts and offer potential partnerships with major vehicle manufacturers like Ford, General Motors, Hyundai, and potentially Tesla. The innovative SOLIS and COR duo targets a large market, including light trucks and users in military, law enforcement, and first responders. Worksport also plans to expand its product compatibility to include Tesla Cybertruck and other truck brands. The Company's COR Portable Energy Storage System is set to revolutionize the market with its versatile recharge options and innovative features, positioning Worksport as a key player in the mobile battery power generator industry.
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Worksport Ltd. (NASDAQ: WKSP) announces participation in Centurion One 7th Annual Growth Conference to showcase innovative off-grid energy solutions and aftermarket automotive accessories. Steven Rossi, CEO, to present on March 7, 2024, at Four Seasons Hotel in Toronto, Ontario.
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Worksport Ltd. (WKSP) partners with Dix Performance North, Canada's top aftermarket car and truck wholesaler, to distribute its covers, expecting significant sales growth and revenue increase. The partnership aims to make Worksport's products widely available in Canada, following a successful appearance at a prestigious automotive show.
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Worksport Ltd. (WKSP) announces the development of a SOLIS solar cover for the Ford F-150 Lightning, aiming to integrate it with the vehicle's charging system for off-grid use. Preliminary estimates suggest up to 10 miles range increase. Worksport also plans to offer a SOLIS and COR battery bundle for clean energy utilization, with the COR Battery undergoing testing for an Alpha Launch.
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Worksport Ltd. (Nasdaq: WKSP) completes production of 1,100 AL3PRO Hard Folding Tonneau Covers at its NY facility. The covers are made of 90%+ domestically sourced materials and are suitable for various truck models. Worksport plans to sell them on major platforms like Walmart and Amazon. The Company is also working on SOLIS Solar Cover and COR Battery System.
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Infineon Technologies AG announces collaboration with Worksport Ltd. to use GaN power semiconductors in portable power stations, reducing weight, size, and system costs. Worksport's COR battery system to be integrated into pickup trucks and recharged by solar panels or wall outlets. GaN technology expected to reduce CO2 emissions in manufacturing process.
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Worksport Ltd. (Nasdaq:WKSP) reports a 2,050% YOY revenue increase in Q4 FY2023, reaching US$839,690. The company also experienced an 83% increase in North American revenues from Q3 to Q4 2023. Worksport anticipates continued revenue growth into 2024, with a focus on expanding production lines and launching new products, such as the COR battery system and the SOLIS solar cover. Terravis Energy, a Worksport subsidiary, achieved a significant breakthrough in the development of a Cold Climate, Air Source Residential Heat Pump, surpassing current leading Heat Pump systems by as much as 40%. The company is poised for further growth and expansion, with a strong focus on sustainability and innovation.
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Worksport Ltd. and its subsidiary, Terravis Energy, Inc., are considering partners in a supply chain for the Cold Climate, Air Source Residential Heat Pump (CCHP). Terravis CEO Lorenzo H. Rossi recently attended the 2024 AHR Expo in Chicago to meet potential suppliers. The Terravis Heat Pump is expected to redefine heating technology without the use of supplemental heat coils, with the potential to reduce carbon emissions worldwide. Worksport CEO Steven Rossi emphasized the company's commitment to a zero-emission future. Worksport and Terravis will provide updates on the product's development and testing process.
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FAQ
What is the current stock price of Worksport, Ltd. (WKSP)?
The current stock price of Worksport, Ltd. (WKSP) is $0.8346 as of December 20, 2024.
What is the market cap of Worksport, Ltd. (WKSP)?
The market cap of Worksport, Ltd. (WKSP) is approximately 26.4M.
What products does Worksport offer?
Worksport specializes in tonneau covers, solar integrations, and hydrogen-based green energy solutions for the automotive and sustainable energy industries.
What were Worksport's key highlights in Q1 2024?
Worksport reported a 1,506% revenue increase in North American sales for Q1 2024, signaling rapid growth and demand for its products.
What is Worksport's approach to sustainability?
Worksport focuses on eco-friendly solutions and clean energy integrations to meet the growing consumer demand for sustainable automotive products.
How does Worksport plan to expand its market reach?
Worksport has established strategic collaborations and distribution networks, including partnerships with prominent distributors and dealers, to enhance its market presence.
What sets Worksport apart from its competitors?
Worksport's innovative products, strong intellectual property portfolio, and commitment to sustainability position the company as a leader in the automotive and clean energy sectors.
Worksport, Ltd.
Nasdaq:WKSP
WKSP Rankings
WKSP Stock Data
26.35M
30.36M
8.24%
9.37%
2.98%
Auto Parts
Motor Vehicle Parts & Accessories
United States of America
WEST SENECA