Worksport Ltd. Commences Direct Sales to U.S Government Departments, Securing First Orders with National Agency
Worksport (NASDAQ: WKSP) has announced its expansion into sales to Federal Government Agencies, securing initial orders with a major U.S. government entity for its Made-in-USA AL3 Tonneau Covers. This strategic move targets an estimated 2 million pickup trucks in government fleets nationwide. The company's government outreach will be led by Ambassador Ned Siegel (Ret.), a board member and former U.S. Ambassador, who will focus on pitching both current products and upcoming clean-tech solutions like the SOLIS Solar Tonneau Cover and COR Portable Energy System.
While these early sales are not expected to immediately impact overall revenue forecasts, they represent a important entry point into a potentially long-term, recurring revenue stream from government contracts. Worksport aims to leverage this initial success to expand its reach within government fleets, particularly as agencies move towards sustainability and energy efficiency.
Worksport (NASDAQ: WKSP) ha annunciato la sua espansione nelle vendite alle agenzie del governo federale, assicurandosi ordini iniziali da un'importante entità governativa statunitense per i suoi tavoli coprenti AL3 Made-in-USA. Questa mossa strategica mira a un mercato stimato di 2 milioni di pick-up nelle flotte governative a livello nazionale. L'iniziativa di Worksport nei confronti del governo sarà guidata dall'Ambasciatore Ned Siegel (in pensione), membro del consiglio e ex ambasciatore degli Stati Uniti, che si concentrerà sulla presentazione sia dei prodotti attuali che delle prossime soluzioni tecnologiche pulite, come il telo solare SOLIS e il Corpo Energetico PORTATILE COR.
Sebbene queste vendite iniziali non si preveda abbiano un impatto immediato sulle previsioni di fatturato complessive, esse rappresentano un'importante porta d'ingresso verso un potenziale flusso di entrate ricorrenti a lungo termine derivanti da contratti governativi. Worksport mira a sfruttare questo successo iniziale per espandere la propria portata all'interno delle flotte governative, soprattutto mentre le agenzie si muovono verso la sostenibilità e l'efficienza energetica.
Worksport (NASDAQ: WKSP) ha anunciado su expansión en ventas a agencias del gobierno federal, asegurando pedidos iniciales con una importante entidad gubernamental de EE. UU. para sus cobertores de tonneau AL3 fabricados en EE. UU.. Este movimiento estratégico apunta a un mercado estimado de 2 millones de camionetas en las flotas gubernamentales en todo el país. La divulgación gubernamental de la compañía será liderada por el Embajador Ned Siegel (retirado), miembro de la junta y exembajador de EE. UU., que se centrará en presentar tanto los productos actuales como las próximas soluciones de tecnología limpia, como el Cubierta de Tonneau Solar SOLIS y el Sistema de Energía Portátil COR.
Aunque no se espera que estas ventas iniciales afecten de inmediato las proyecciones generales de ingresos, representan un importante punto de entrada a una posible corriente de ingresos recurrentes a largo plazo a través de contratos gubernamentales. Worksport tiene como objetivo aprovechar este éxito inicial para expandir su alcance dentro de las flotas gubernamentales, especialmente a medida que las agencias avanzan hacia la sostenibilidad y la eficiencia energética.
Worksport (NASDAQ: WKSP)는 연방 정부 기관에 대한 판매 확장을 발표하며, 미국 정부의 주요 기관으로부터 미국산 AL3 토노 커버에 대한 초기 주문을 확보했습니다. 이 전략적 움직임은 전국 정부 플릿에서 약 200만 대의 픽업 트럭을 겨냥합니다. 회사의 정부 홍보는 Ned Siegel 대사 (퇴역)가 이끌며, 그는 현재 제품과 함께 SOLIS 태양광 토노 커버 및 COR 휴대용 에너지 시스템과 같은 향후 청정 기술 솔루션을 제안하는 데 집중할 것입니다.
이 초기 판매는 즉각적으로 전체 수익 예측에 영향을 미치지 않을 것으로 예상되지만, 정부 계약에서 장기적으로 발생할 수 있는 반복적인 수익 흐름에 대한 중요한 진입점으로 작용합니다. Worksport는 이 초기 성공을 활용하여 정부 플릿 내에서의 접근 범위를 확장하는 것을 목표로 하며, 특히 기관들이 지속 가능성과 에너지 효율성으로 나아가는 것에 맞춰 확장할 계획입니다.
Worksport (NASDAQ: WKSP) a annoncé son expansion dans les ventes aux agences gouvernementales fédérales, sécurisant des commandes initiales avec une importante entité gouvernementale américaine pour ses couvercles de tonneau AL3 fabriqués aux États-Unis. Ce mouvement stratégique cible environ 2 millions de pick-ups dans les flottes gouvernementales à l'échelle nationale. L'engagement gouvernemental de l'entreprise sera dirigé par l'Ambassadeur Ned Siegel (à la retraite), membre du conseil d'administration et ancien ambassadeur des États-Unis, qui se concentrera sur la présentation des produits actuels ainsi que des solutions technologiques propres à venir, comme le couvercle de tonneau solaire SOLIS et le système d'énergie portable COR.
Bien que ces ventes initiales ne soient pas censées avoir un impact immédiat sur les prévisions de revenus globales, elles représentent un point d'entrée important pour un flux de revenus potentiellement récurrent à long terme issu de contrats gouvernementaux. Worksport vise à tirer parti de ce succès initial pour élargir sa portée au sein des flottes gouvernementales, en particulier à mesure que les agences s'orientent vers la durabilité et l'efficacité énergétique.
Worksport (NASDAQ: WKSP) hat seine Expansion in den Verkauf an Bundesbehörden angekündigt und initiale Bestellungen bei einer wichtigen US-Regierungsstelle für seine Made-in-USA AL3 Tonneau-Cover gesichert. Dieser strategische Schritt zielt auf schätzungsweise 2 Millionen Pickup-Trucks in den Fuhrparks der Regierung im ganzen Land ab. Die Kontaktaufnahme des Unternehmens zur Regierung wird von Botschafter Ned Siegel (a.D.), einem Vorstandsmitglied und ehemaligen US-Botschafter, geleitet, der sich darauf konzentrieren wird, sowohl aktuelle Produkte als auch kommende saubere Technologien wie das SOLIS Solar Tonneau Cover und das COR Portable Energy System vorzustellen.
Obwohl diese frühen Verkäufe voraussichtlich keinen sofortigen Einfluss auf die Gesamtumsatzprognosen haben werden, stellen sie einen wichtigen Einstieg in einen potenziell langfristigen, wiederkehrenden Einnahmequelle aus Regierungsverträgen dar. Worksport strebt an, diesen anfänglichen Erfolg zu nutzen, um seine Reichweite innerhalb der Regierungsflotten zu erweitern, insbesondere da die Behörden auf Nachhaltigkeit und Energieeffizienz setzen.
- Secured initial orders with a major U.S. government entity for AL3 Tonneau Covers
- Targeting an estimated 2 million pickup trucks in government fleets nationwide
- Ambassador Ned Siegel (Ret.) to lead government outreach, leveraging extensive network
- Potential for long-term, recurring revenue from government contracts
- Opportunity to introduce clean-tech solutions (SOLIS and COR) to government fleets
- Early government sales not expected to immediately impact overall revenue forecasts
Insights
Worksport's entry into government sales marks a significant strategic move. While initial orders may not immediately impact overall revenue, the potential market is substantial. With an estimated 2 million pickup trucks in government fleets, this represents a large, stable customer base for Worksport's products.
The company's approach, leveraging board member Ambassador Ned Siegel's connections, is shrewd. Government contracts often lead to long-term, recurring revenue streams, which could provide stability to Worksport's financials. However, investors should note that government sales cycles can be lengthy and competitive.
The planned introduction of SOLIS and COR systems to government fleets aligns with increasing focus on sustainability in public sector procurement. This could position Worksport favorably as agencies look to reduce energy costs and carbon footprints.
While promising, it's important to monitor how quickly Worksport can scale these government sales and their impact on the bottom line. The
Worksport's expansion into government sales with its AL3 Tonneau Covers is just the beginning. The real game-changer lies in their clean-tech solutions: SOLIS and COR. These products position Worksport at the intersection of two major trends: electrification of government fleets and portable clean energy solutions.
The SOLIS solar tonneau cover and COR portable energy system create a unique nano-grid solution. This could be particularly valuable for emergency services, field operations and disaster response scenarios where portable power is crucial. The potential for COR to function as an EV range extender is especially noteworthy, as it could address range anxiety issues in government EV adoption.
However, the success of these products in the government sector will depend on their performance, reliability and cost-effectiveness compared to traditional solutions. Worksport will need to demonstrate clear ROI and operational benefits to secure widespread adoption.
Investors should watch for updates on product testing, certifications and pilot programs with government agencies as indicators of potential success in this market.
Targeting Over 2 Million Government Fleet Vehicles, Worksport Sets Stage for Strategic Growth in Government Contract & Sales.
West Seneca, New York, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) (“Worksport” or the “Company”), a U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors is excited to announce the expansion of its sales to Federal Government Agencies. Worksport has established a business relationship with a major U.S. government entity, supplying its flagship Made-in-USA AL3 Tonneau Covers for regular fleet purchases.
This strategic partnership positions Worksport to expand its reach within the government fleet sector, which includes an estimated 2 million pickup trucks nationwide. Additionally, Worksport plans to explore opportunities to introduce its forthcoming clean-tech nano-grid products to these newly established relationships.
Government Outreach Lead by Influential Board of Directors
Worksport’s strategic approach to government sales will be spearheaded by Ambassador Ned Siegel (Ret.), a key member of Worksport’s Board of Directors and former U.S. Ambassador. Ambassador Siegel will be directly involved in outreach to federal and state agencies, leveraging his extensive network to build strong government relationships. This outreach will not only focus on Worksport's current tonneau cover products but also on pitching cutting-edge solutions like the SOLIS Solar Tonneau Cover and the COR Portable Energy System.
"Securing these early government sales is a promising first step," said Steven Rossi, CEO of Worksport. "We are now in a unique position to expand our government sales pipeline and demonstrate the value of our Made-in-America tonneau covers and other solutions to federal and state agencies. We expect these relationships to grow, becoming a recurrent source of revenue as we expand our offerings and reach."
Worksport anticipates that these early sales, while not immediately impacting the Company's overall revenue forecasts, represent a crucial entry point into a long-term government sales program. According to the Federal Highway Administration (FHWA), there may be over 2 million pickup trucks in government and state-owned fleets, presenting a vast, addressable market for Worksport’s products. Government agencies with the largest fleets of light trucks include the Departments of Natural Resources, Agriculture, and Transportation, along with Federal, State and Local Law Enforcement Agencies.
"Our focus on government fleets isn’t just about selling our current products," continued Rossi. "With the upcoming launch of our clean-tech solutions, including the SOLIS and COR systems, we see significant growth potential as government fleets increasingly move toward sustainability and energy efficiency."
SOLIS & COR: Game-Changing Clean Energy Solutions
For government fleets the SOLIS solar tonneau cover and the COR portable energy system present unique opportunities for government fleet managers seeking to reduce energy costs and carbon footprints. With its ability to generate clean solar energy and provide portable power on the go, the SOLIS and COR systems together form a unique nano-grid that could power emergency sites, power tools, and appliances. Future iterations of the COR system are also expected to function as a range extender for EVs.
Future Objectives
Worksport’s Government Sales Initiative has commenced by showcasing the unique durability, performance, and value of its premium tonneau covers. Leveraging Ambassador Siegel’s leadership and initial sales to a key U.S. government entity, Worksport plans to use this success to fuel additional future growth.
The Company will then expand its clean-tech solutions to government agencies as well, targeting fleet contracts through agency decision-makers, nationwide, building toward a scalable, long-term, recurring revenue stream.
For more on Worksport’s innovative product lines, visit www.worksport.com. Stay tuned for investor updates on new products, expanded model coverage, and ongoing business growth.
Investor Inquiries May Be Directed To:
Investor Relations, Worksport Ltd.
T: 1 (888) 554-8789 x128
W1: https://investor.worksport.com
W2: www.worksport.com
E: investors@worksport.com
Key 2024 Press-Releases:
- September 30: Worksport Provides Update On ISO Certification
- September 19: Worksport Initiates Alpha Launch of SOLIS & COR
- September 12: Worksport Reports Record High August Sales
- September 11: Worksport COR as an EV Range Extender for Tesla Model 3
- August 14: Worksport Announces Record High Revenues;
275% Q2 Growth - August 1: Worksport Announces Impressive SOLIS Solar Cover Test Results
- May 16: Worksport Reports 1,
506% Q1 Revenue Surge - May 8: Worksport Awarded
$2.8M M Grant - April 25: Worksport Signals Undervalued Status, Eyes Major 2024 Growth
Read all Worksport press releases: [Link to All Press Releases].
Stay Connected
- Investor Newsletter: Investors and customers are invited to follow Worksport’s progress as it builds on this momentum and strives to redefine industry standards with each new corporate development. Link to Newsletter
- Contact Information
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128
W: investors.worksport.com E: investors@worksport.com W: worksport.com
About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with RAM, Chevrolet, and GMC models from General Motors, as well as Ford, Jeep, Nissan, and Toyota pickup trucks. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and NP (Non-Parasitic), Hydrogen-based technology. Terravis Energy’s website is terravisenergy.com. For more information, please visit investors.worksport.com.
Connect with Worksport
Please follow the Company’s social media accounts on X (previously Twitter), Facebook, LinkedIn, YouTube, and Instagram (collectively, the “Accounts”), the links of which are links to external third party websites, as well as sign up for the Company’s newsletters at investors.worksport.com. The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company.
| Product social media | Investor social media |
| X (formerly Twitter) | |
| Facebook YouTube | LinkedIn Link to Newsletter |
Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission (“SEC”) filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media.
The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
For additional information, please contact:
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: investors.worksport.com W: www.worksport.com E: investors@worksport.com
Forward-Looking Statements
The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” “project,” “should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) supply chain delays; (ii) acceptance of our products by consumers; (iii) delays in or nonacceptance by third parties to sell our products; and (iv) competition from other producers of similar products. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the SEC, including, without limitation, our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. The forward-looking statements made in this press release are made only as of the date of this press release, and the Company undertakes no obligation to update them to reflect subsequent events or circumstances.
FAQ
What products is Worksport (WKSP) selling to U.S. government departments?
How many government fleet vehicles is Worksport (WKSP) targeting?
Who is leading Worksport's (WKSP) government outreach efforts?
What is the potential impact of government sales on Worksport's (WKSP) revenue?
