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 Ltd. (WKSP) and its subsidiary, Terravis Energy, Inc., announce a breakthrough in early test results for Terravis’ Cold Climate, Air Source Residential Heat Pump, surpassing current commercial units by as much as 40%. The product is expected to redefine the boundaries of heating technology without the use of supplemental heating coils, thriving in the harshest North American winters. The company is moving to the commercial design stage after rigorous testing, aiming to create a comfortable and reliable temperature regardless of severe weather conditions.
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Worksport Ltd. (Nasdaq: WKSP; WKSPW) announces a strategic partnership with NeuronicWorks Inc. to manufacture and assemble the COR battery system for its Alpha release. The partnership aims to ensure high-quality standards and 'Made in North America' products. Worksport's CEO and CTO express excitement and commitment to quality and sustainability. NeuronicWorks CEO emphasizes the company's commitment to innovation in cleantech and green energy.
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Worksport Ltd. (Nasdaq: WKSP; WKSPW) announces that its subsidiary, Terravis Energy, Inc., has completed a working prototype of its Cold Climate, Air Source Residential Heat Pump, undergoing rigorous testing to optimize efficiency and performance. The company aims to set new standards in cold-weather performance, offering a zero-emission residential Heat Pump that can provide heat at temperatures as low as -31ºF (-35ºC). The innovative design is expected to enter a large international market, addressing the need for sustainable, climate-friendly appliances in new construction residences.
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Worksport Ltd. (Nasdaq: WKSP; WKSPW) completes its second assembly line for hard-folding covers, marking a significant advancement in sustainable automotive innovation. The company achieved a 2,399% year-over-year revenue growth in Q3 2023 vs 2022, leading to the completion of the second assembly line to meet the substantial $16 million annual sales agreement. CEO Steven Rossi expressed pride in the progress, emphasizing the commitment to growth and innovation, as well as dedication to meeting customer needs and sales objectives.
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Worksport Ltd. (WKSP; WKSPW) partners with a Canadian manufacturer to design, develop, and assemble the COR battery system in Canada. This strategic move aligns with the upcoming Alpha Release of the COR battery system and Worksport's commitment to renewable energy solutions. The company also plans to provide updates on the SOLIS solar cover development, reflecting its continued innovation in the renewable energy sector.
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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 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 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 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 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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FAQ
What is the current stock price of Worksport, Ltd. (WKSP)?
The current stock price of Worksport, Ltd. (WKSP) is $0.91 as of January 24, 2025.
What is the market cap of Worksport, Ltd. (WKSP)?
The market cap of Worksport, Ltd. (WKSP) is approximately 29.0M.
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
28.99M
30.36M
8.24%
9.37%
2.98%
Auto Parts
Motor Vehicle Parts & Accessories
United States of America
WEST SENECA