Worksport Ltd. Unveils Upgraded SOLIS Technology, Enhancing Solar Tonneau Covers for Broader Market Reach
Worksport (NASDAQ: WKSP) announces an upgrade to its SOLIS solar tonneau cover technology, shifting to 60V output. This enhancement is expected to reduce consumer costs by up to $400 USD and increase compatibility with various battery generator systems. The upgrade comes during the Alpha release phase and includes key benefits such as broader market appeal, simplified integration, and maintained performance levels. A redesigned wireway management system is planned for completion by November's end. The company is preparing for influencer campaigns and live demonstrations to showcase the SOLIS Covers with COR & other battery systems, targeting the 60 million pickup trucks in the U.S. market.
Worksport (NASDAQ: WKSP) annuncia un aggiornamento alla sua tecnologia di copertura solare SOLIS, passando a un'uscita di 60V. Questo miglioramento si prevede riduca i costi per i consumatori fino a 400 USD e aumenti la compatibilità con vari sistemi di generatori a batteria. L'aggiornamento avviene durante la fase di rilascio Alpha e include vantaggi chiave come un'appeal di mercato più ampio, integrazione semplificata e mantenimento dei livelli di performance. Un sistema di gestione dei cavi riprogettato è previsto per essere completato entro la fine di novembre. L'azienda si sta preparando per campagne con influencer e dimostrazioni dal vivo per mostrare i SOLIS Covers con sistemi di batteria COR e altri, mirando ai 60 milioni di pickup truck nel mercato statunitense.
Worksport (NASDAQ: WKSP) anuncia una actualización en su tecnología de cubierta solar SOLIS, pasando a una salida de 60V. Se espera que esta mejora reduzca los costos para los consumidores en hasta $400 USD y aumente la compatibilidad con varios sistemas de generadores de batería. La actualización se realiza durante la fase de lanzamiento Alpha e incluye beneficios clave como un mayor atractivo de mercado, integración simplificada y niveles de rendimiento mantenidos. Un sistema de gestión de cables rediseñado está previsto para completarse a finales de noviembre. La empresa se está preparando para campañas de influencers y demostraciones en vivo para mostrar las cubiertas SOLIS con sistemas de batería COR y otros, apuntando a los 60 millones de camionetas en el mercado de EE.UU.
Worksport (NASDAQ: WKSP)는 SOLIS 태양광 토노 커버 기술을 60V 출력으로 업그레이드한다고 발표했습니다. 이 개선 사항은 소비자 비용을 최대 $400 USD까지 줄이고 다양한 배터리 발전기 시스템과의 호환성을 높일 것으로 예상됩니다. 업그레이드는 알파 릴리스 단계 중에 이루어지며, 더 넓은 시장 매력, 간소화된 통합, 유지된 성능 수준과 같은 주요 이점들이 포함되어 있습니다. 재설계된 배선 관리 시스템은 11월 말까지 완료될 예정입니다. 회사는 COR 및 기타 배터리 시스템과 함께 SOLIS 커버를 선보이기 위한 인플루언서 캠페인 및 라이브 데모를 준비하고 있으며, 미국 시장에서 6천만 대의 픽업 트럭을 목표로 하고 있습니다.
Worksport (NASDAQ: WKSP) annonce une mise à niveau de sa technologie de couverture solaire SOLIS, passant à une sortie de 60V. Cette amélioration devrait réduire les coûts pour les consommateurs jusqu'à 400 USD et augmenter la compatibilité avec divers systèmes de générateurs à batterie. La mise à niveau se fait pendant la phase de lancement Alpha et inclut des avantages clés tels qu'un attrait de marché élargi, une intégration simplifiée et des niveaux de performance maintenus. Un système de gestion des câbles repensé devrait être terminé d'ici la fin novembre. L'entreprise se prépare à des campagnes avec des influenceurs et des démonstrations en direct pour présenter les couvertures SOLIS avec des systèmes de batterie COR et d'autres, ciblant les 60 millions de pick-up sur le marché américain.
Worksport (NASDAQ: WKSP) kündigt ein Upgrade seiner SOLIS-Solarschutzhülltentechnologie an, das auf eine Ausgangsspannung von 60V umschaltet. Diese Verbesserung wird voraussichtlich die Kosten für Verbraucher um bis zu 400 USD senken und die Kompatibilität mit verschiedenen Batteriesystemen erhöhen. Das Upgrade erfolgt während der Alpha-Veröffentlichungsphase und umfasst wichtige Vorteile wie eine breitere Marktattraktivität, vereinfachte Integration und aufrechterhielte Leistungsniveaus. Ein neu gestaltetes Kabelmanagement-System soll bis Ende November abgeschlossen sein. Das Unternehmen bereitet sich auf Influencer-Kampagnen und Live-Demonstrationen vor, um die SOLIS Covers mit den COR- und anderen Batteriesystemen vorzustellen, mit dem Ziel von 60 Millionen Pickup-Trucks auf dem US-Markt.
- Expected cost reduction of up to $400 USD for end consumers
- Enhanced compatibility with broader range of portable energy systems
- No performance impact while reducing system complexity
- Targeting large addressable market of 60 million U.S. pickup trucks
- None.
Insights
The upgrade to 60V output for the SOLIS solar tonneau cover represents a significant technical and commercial advancement. The
The development comes at a strategic time during the Alpha release phase, allowing for real-world validation before full market launch. Market timing appears favorable with the portable power market exceeding
Key technical improvements include simplified wireway management and enhanced compatibility with various power storage systems, indicating strong product-market fit potential. However, success will depend on the execution of the upcoming Beta release and market response to the influencer campaigns.
The strategic pivot to broaden market accessibility through cost reduction and universal compatibility demonstrates strong market intelligence. By aligning the product price point with conventional tonneau covers while offering superior functionality, Worksport is positioning for significant market penetration in the massive pickup truck market.
Recent company developments show momentum, with
However, investors should note that while the company has secured a Nasdaq compliance extension and projects
Innovative Upgrade Reduces Consumer Costs by Up to
West Seneca, New York, Oct. 31, 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 a development for its advanced solar technology system. The Worksport SOLIS solar tonneau cover will be improved to operate at 60V, a meaningful upgrade that is believed to bring substantial cost savings to consumers, expand the addressable market size, and simplify integration with a wider range of other battery generator systems existing in the marketplace.
Cost Savings for Customers & Broader Product Appeal
The change to 60V output provides strong benefits to Worksport's upcoming SOLIS solar cover product line. Key benefits include:
- Cost Savings: Anticipated savings of up to
$400 USD for the end user, allowing Worksport’s patented SOLIS solar cover to be affordable for a larger portion of the huge global pickup truck market. - Broader Compatibility: Enhanced compatibility with a wider range of existing portable energy systems, expanding market potential.
- Same Performance, Less Complex: The lower voltage is not expected to impact the cover’s performance, while also reducing the complexity of Worksport’s Maximum Power Point Tracking (MPPT) system.
- Simplified Systems: The 60V configuration streamlines the SOLIS cover and the COR portable energy storage systems, simplifying installation and user experience.
Worksport SOLIS & COR
This planned upgrade to the Worksport SOLIS cover comes as the system is currently in an Alpha release phase, and the Company is collecting real world feedback on the early production units. Worksport's SOLIS Solar Cover and COR Portable Energy Systems are expected for market release in the near term. Together, they form an advanced nano-grid solution that generates clean, portable power for both recreational and professional uses. Positioned in a rapidly growing portable power market exceeding
Streamlined Solutions and Market Potential
The development of the 60V SOLIS solution allows for a simpler connection between the SOLIS Solar Cover and portable energy systems, like the Worksport COR.
This development will be in immediate effect for the Alpha release within the coming days and is expected to enhance both user experience and cost. This advancement aligns with Worksport's strategic vision to capture substantial market share in the booming portable energy market. A redesigned wireway management system, set to be finalized by the end of November, will further improve efficiency and aesthetics.
While providing multiple expected benefits, Worksport does not anticipate any timeline shifts as result of this development, the Company will continue to test and enhance the Alpha release systems in real world conditions. As the Alpha release continues to excitingly advance, the Company is preparing for influencer campaigns and live demonstration events to publicly showcase the quality and performance of the Worksport SOLIS Covers with the Worksport COR & other battery generator systems. The Alpha release will be followed by preorders and a larger scale Beta release.
CEO Commentary
"SOLIS testers spoke, and we listened! With this change we expect to drastically enhance compatibility and materially reduce projected customer costs, so we can make our upcoming sustainable energy solutions more affordable to a wider audience," said Steven Rossi, CEO of Worksport Ltd. "This upgrade not only strengthens our competitive position but also aligns with our commitment to delivering exceptional value and driving growth. We're excited about the future prospects this technology brings and remain dedicated to pushing the boundaries of innovation in our industry. This solar cover will be priced closely to conventional covers in our marketplace. We think this will make it a clear choice for a huge portion of the 60 million pickup trucks on U.S. roads."
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:
- October 29:
200% Growth in B2B Sales; Pre-Order Campaign Initiated For AL4 - October 17: Nasdaq Grants Extension To Regain Compliance
- October 17:
$2M M+ Projected Savings From New Strategic Initiative - October 3: Commencing U.S Government Sales
- September 30: Update On ISO Certification
- September 19: Alpha Launch of SOLIS & COR
- September 11: Worksport COR as an EV Range Extender for Tesla Model 3
- August 14: Record High Revenues;
275% Q2 Growth - August 1: Impressive SOLIS Solar Cover Test Results
- May 8: Worksport Awarded
$2.8M M Grant
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.
- Immediate change, now more engineering work required.
- Timelines not shifted
- What’s next: - testing them now, alpha launch will be updated to reflect this, and we will get more out on testing.
- Live demonstration date and influencer dates
FAQ
What is the new voltage output of Worksport's SOLIS solar tonneau cover (WKSP)?
How much will consumers save with the upgraded SOLIS system from Worksport (WKSP)?
When will Worksport (WKSP) complete the redesigned wireway management system?
What is the target market size for Worksport's SOLIS cover (WKSP)?
