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Worksport, Ltd. - WKSP STOCK NEWS

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.

News

Worksport Ltd. Wishes Employees and Investors a Happy Thanksgiving

Rhea-AI Summary
Worksport Ltd. (WKSP) extends Thanksgiving wishes to employees, investors, and stakeholders. Recent achievements include a long-term agreement for US factory product, R&D for Terravis Energy's heat pump project, registered direct offering, and significant Q3 revenue growth of 2400% YoY.
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Worksport Advances COR Battery Power Generator System to Test Phase in Anticipation of the Alpha Release

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Worksport Ltd. (Nasdaq: WKSP; WKSPW) announces the transition of its groundbreaking COR battery system into the Test Phase, marking the beginning of intensive testing. The COR system is designed for pickup truck beds and independent use, with a focus on resilience, durability, and adaptability to diverse challenges. The Test Phase will include performance evaluations in extreme climates, rigorous terrain trials, examinations in humidity, vertical drops, splash water, and spray situations, as well as shock tests. This phase aligns with the recent Alpha Release, aiming to gather feedback for further improvements before the Mass Market Release of the COR battery system and the SOLIS solar cover.
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Worksport Reports 2400% Q3 Revenue Growth YoY as the Company Initiates Production

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Worksport Ltd. (Nasdaq: WKSP; WKSPW) reports a significant revenue growth of approximately 2399% in North American sales for Q3 FY2023, reflecting the company's expanding production and fulfillment of large sales orders. Expansion in product offerings, significant purchase orders, and strategic partnerships contribute to the strong financial results.
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Worksport Gears Up for Initial Alpha Release of its Pioneering COR Portable Energy Storage System

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Worksport Ltd. is preparing for an alpha release of its COR battery system. The company is streamlining its supply chain and forging partnership agreements with global suppliers. The alpha release will serve as a preliminary user iteration before the mass-market release. Worksport is also expanding its production capabilities and its subsidiary, Terravis Energy, plans to increase research and development for its heat pump.
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Worksport Announces Pricing of Approximately $4.7 Million Registered Direct Offering & Concurrent Private Placement

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Worksport Ltd. has entered into a securities purchase agreement with a single institutional investor for a registered direct offering. The investor will purchase 3,500,000 shares of common stock and receive warrants to purchase up to 7,000,000 shares. The combined offering price for each share and warrant is $1.34. The gross proceeds to the company are estimated to be approximately $4.7 million.
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Worksport Presents Uniquely Configured Bed Cover Model for Canadian Automotive Store Chain Following Recent $16 Million Annual Sales Agreement with U.S Brand

Rhea-AI Summary
Worksport receives interest from a leading Canada-based automotive aftermarket reseller for its hard-folding tonneau covers. The potential customer has an annual sales volume of over $10 billion CAD. Worksport is also expanding into the cleantech sector with its SOLIS Solar Cover and COR Battery System.
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Worksport Increases R&D for Terravis Energy Subsidiary’s Heat Pump Project

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Worksport's subsidiary, Terravis Energy, is increasing R&D for its Cold Climate Residential Heat Pump due to expected growth in North American and global markets. The pump utilizes a special fluid to transfer heat and offers zero-emission, sustainable energy for heating and cooling homes. The North American market is estimated to reach $7.3 billion with a projected 9% annual growth rate, while the global market is expected to reach $121.5 billion by 2032. The market expansion is driven by government initiatives to reduce carbon emissions and consumer demand for energy-efficient technologies.
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Worksport Signs Long Term Agreement with Customer for US Factory Product and Expects US$16,000,000 in Annual Sales, Marking Significant Growth and Demand at NY Factory.

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Worksport secures long-term supply agreement, expects $16M in annual sales from single customer
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Worksport Advances Towards the Launch of SOLIS Solar Cover with Innovative COR Battery System

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Worksport announces strides in COR battery system development to complement SOLIS solar cover, enhancing remote power supply and driving range of electric pickup trucks. Battery system features redundant overheating protection and seamless connectivity to mobile app. Worksport testing various battery technologies for customization. Partnership with Hyundai and potential partnerships with other manufacturers indicate transformative era in energy producing truck bed solutions.
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WATCH TODAY: Worksport Announces Webcasting Link for Participation in the H.C. Wainwright 25th Annual Global Investment Conference.

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Worksport to present at H.C. Wainwright 25th Annual Global Investment Conference
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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.

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Worksport, Ltd.

Nasdaq:WKSP

WKSP Rankings

#5190 Ranked by Market Cap
N/A Ranked by Dividends

WKSP Stock Data

26.35M
30.36M
8.24%
9.37%
2.98%
Auto Parts
Motor Vehicle Parts & Accessories
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United States of America
WEST SENECA