Core Insights - Worksport Ltd. has announced the launch of its subsidiary Terravis Energy's AetherLux™ heat pump system, which operates efficiently in extreme temperatures from -57°F to +131°F and eliminates defrost cycles, marking a significant advancement in clean energy solutions [1][2][4]. Product Features - The AetherLux product line includes three high-performing models, with the Pro Model featuring proprietary ZeroFrost technology that prevents ice buildup and eliminates energy-draining defrost cycles [2][3]. - The system is designed to operate efficiently in extreme temperatures, with a targeted range of -50°F to +131°F, and is expected to redefine performance standards in the global heat pump market projected to exceed $148 billion by 2030, growing at a CAGR of 9.4% [2][5]. - The AetherLux heat pump boasts an estimated coefficient of performance (COP) of 3.0 to 3.5 at -57°F and a heating seasonal performance factor (HSPF) of 11.0 to 12.5, significantly reducing energy consumption [5]. Technological Innovation - ZeroFrost technology is a key innovation that eliminates the need for defrost cycles, thereby extending the operational lifespan of the heat pump and maintaining efficient heating and cooling in extreme environments [3][4]. - The AetherLux system utilizes R32 refrigerant, compliant with the 2025 Clean Air Act regulations, aligning with evolving environmental standards and reducing the risk of carbon monoxide poisoning [5]. Market Potential - The introduction of the AetherLux system is expected to accelerate the adoption of heat pumps in both extreme and moderate climates, potentially targeting billions of customers worldwide [3][4]. - The CEO of Terravis Energy emphasized that the product's performance metrics are virtually unmatched, indicating strong commercial interest and potential for significant market impact [7].

Core Viewpoint - Worksport Ltd.'s subsidiary, Terravis Energy, has launched the AetherLux™ heat pump system, which eliminates defrost cycles and operates efficiently in extreme temperatures, marking a significant advancement in clean energy technology [1][2][5]. Product Overview - The AetherLux product line includes three high-performing models, with the Pro Model featuring proprietary ZeroFrost™ technology that prevents freezing and eliminates the need for defrost cycles [2][3]. - The heat pump operates effectively in temperatures ranging from -57°F to +131°F, setting new performance standards in a global heat pump market projected to exceed $148 billion by 2030, with a CAGR of 9.4% [2][3]. Technological Innovations - ZeroFrost technology prevents ice buildup, reducing thermal stress and wear on components, thus extending the product's operational lifespan and maintaining efficiency in extreme conditions [3][5]. - The AetherLux heat pump has an estimated Coefficient of Performance (COP) of 3.0 to 3.5 at -57°F and a Heating Seasonal Performance Factor (HSPF) of 11.0 to 12.5, significantly lowering energy consumption [3]. Environmental Compliance - The heat pump uses R32 refrigerant, compliant with the 2025 Clean Air Act regulations, aligning with evolving environmental standards and reducing the risk of carbon monoxide poisoning [3][4]. Market Potential - The innovative design and eco-compliant technology of the AetherLux system are expected to enhance heat pump adoption rates, reduce climate impact, and lower energy costs for consumers [5][7]. - Terravis Energy anticipates significant commercial interest in the AetherLux system due to its unprecedented performance metrics [7].

Core Insights - Worksport Ltd. has initiated shipments of its AL4 flagship tonneau cover, receiving positive feedback from initial customers, which has led to an acceleration in production to meet expected demand [1][4][6] Group 1: Product Development and Production - The AL4 Hardcover is designed for durability and functionality, utilizing robust American aluminum and precision manufacturing to cater to the growing pickup truck market in North America [2] - The company plans to ramp up production to 1,200 units in the next 30 days, with expectations to double that output shortly thereafter while maintaining existing AL3 production lines [3] - Worksport's strategic approach includes continued expansion of production lines as sales grow, aligning with its vision for 2025 and beyond [3] Group 2: Market Reception and Future Outlook - Major distributors have shown strong interest in the AL4, praising its build quality and features, which reinforces the company's belief in the product's potential as a flagship offering [4] - Worksport anticipates expanding the rollout of the AL4 to e-commerce customers and is on track to release additional clean-tech products, including the SOLIS solar tonneau cover and COR mobile power system, later in 2025 [5] - The CEO expressed confidence that the AL4 will drive significant growth and establish Worksport as a leading provider of premium tonneau covers, positioning the company favorably ahead of upcoming product launches [6] Group 3: Technological Advancements - Worksport's subsidiary, Terravis Energy, is set to reveal advancements in AI-supported heat pump technology, expected to further enhance the company's growth prospects in 2025 and beyond [6]

Following Business Growth, Company Initiates Purchases and Shares Long-Term View West Seneca, New York, Jan. 29, 2025 (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 pleased to announce it has made initial purchases of Bitcoin (BTC) and Ripple (XRP) as part of a newly established cryptocurrency treasury strategy. Projecting re ...

Core Viewpoint - Worksport Ltd. has initiated a cryptocurrency treasury strategy by making initial purchases of Bitcoin (BTC) and Ripple (XRP), projecting revenue growth and the release of three new products in 2025, aiming for cash flow positivity [1][2][3] Group 1: Cryptocurrency Strategy - The company has made its first six-figure purchase of Bitcoin and Ripple, with plans to opportunistically increase its holdings as excess cash grows [2][3] - Worksport's treasury strategy, announced on December 5, 2024, involves investing a portion of excess cash reserves in BTC and XRP [2] - The company aims to integrate cryptocurrency payment options on its website, enhancing operational efficiency and providing customers with lower transaction fees [3] Group 2: Business Growth and Future Outlook - Worksport's CEO, Steven Rossi, highlighted the company's rapid business growth, with increasing revenues and improving margins [3] - The strategic treasury plan is viewed as a low-risk approach to hedge against inflation and benefit from regulatory clarity around cryptocurrencies [3] - The company is focused on leveraging blockchain and digital assets to enhance its operational capabilities [3] Group 3: Company Overview - Worksport Ltd. designs, develops, and manufactures a variety of products, including tonneau covers and clean energy solutions, and has a partnership with Hyundai for solar cover technology [4] - The company is capitalizing on the shift towards clean energy with proprietary solar solutions and mobile energy storage systems [4]

Core Insights - Worksport Ltd. has selected Coinbase as its preferred custodian for cryptocurrency, emphasizing Coinbase's regulatory compliance and security measures [1][5][6] - This decision aligns with Worksport's Cryptocurrency Treasury Strategy, which allows a portion of surplus cash reserves to be held in Bitcoin (BTC) and XRP [2][4] - The collaboration with Coinbase is expected to streamline Worksport's entry into the cryptocurrency space and ensure compliance with evolving regulations [5][6] Financial Strategy - Worksport aims to diversify its financial positioning by incorporating cryptocurrency into its treasury, which is part of its broader growth initiatives [4] - The company is focused on achieving cash flow positivity and plans to launch three new product lines in 2025 [4] - The Board of Directors will determine the investable excess cash, allowing for initial cryptocurrency purchases [2] Company Overview - Worksport Ltd. specializes in hybrid and clean energy solutions for light trucks and consumer goods, with a focus on solar integrations and portable power systems [7] - The company has partnerships, including one with Hyundai for the SOLIS Solar cover, and is gaining traction in the electric vehicle sector [7] - Worksport is positioned to capitalize on the growing consumer shift towards clean energy solutions [7]

Patent Portfolio Growth - Worksport increased its global patent portfolio by approximately 25% in the last 12 months, including both issued patents and pending applications [1][2] - The patent growth supports the company's existing product lines and future offerings, such as the SOLIS solar tonneau cover and COR portable power system [2] - Terravis Energy, a wholly owned subsidiary, contributes to the innovation pipeline with proprietary assets in Cold-Climate Heat Pumps [2] Strategic Alliance with LOT Network - Worksport joined LOT Network, a global consortium with over 4,500 members and 4.8 million patents, to protect against patent assertion entity (PAE) litigation [1][3] - Membership grants automatic licensing of patents enforced by PAEs, safeguarding Worksport and its business ecosystem [3] - Over 50% of PAE litigation targets companies with less than $25MM in annual revenue, highlighting the importance of this alliance [4] Innovation and Industry Collaboration - Worksport emphasizes its commitment to innovation and fair IP practices, urging other companies to join LOT Network to foster industry-wide collaboration [5] - The company's IP growth aligns with its mission to address real-world customer challenges through innovative, user-friendly, and safe products [2][5] Product and Market Focus - Worksport designs and manufactures tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions [8] - The company has an active partnership with Hyundai for the SOLIS Solar cover and is gaining traction in the EV sector with its hard-folding cover [8] - Worksport aims to capitalize on the growing consumer shift toward clean energy integrations with its proprietary solar solutions and Cold-Climate Heat Pump technology [8]

Worksport Subsidiary Terravis Energy Announces Two Major Heat Pump Breakthroughs, Begins 20-Day CountdownSolving Two Key Market Challenges; Successful R&D Has Achieved a Solution Expected to Revolutionize Home Heating & Cooling, While Being Affordable and Highly Efficient.January 22, 2025 7:55 AM EST | Source: Worksport Ltd.West Seneca, New York--(Newsfile Corp. - January 22, 2025) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S. based manufacturer and innovator of hybrid ...

Solving Two Key Market Challenges; Successful R&D Has Achieved a Solution Expected to Revolutionize Home Heating & Cooling, While Being Affordable and Highly Efficient. West Seneca, New York, Jan. 22, 2025 (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, proudly announces that its subsidiary, Terravis Energy [LLC] (“TVE”), a [Delaw ...

Company Reports Unaudited Quarterly Revenue of $2.93 Million, Year-End Revenue Beat, Top-Line of $8.5 Million; Expects Further Expansion with New Products and Growing Margins West Seneca, New York, Jan. 21, 2025 (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 pleased to announce unaudited top-line revenues of approximately $2,90 ...