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Worksport Releases Final COR System Specifications & Pricing
Globenewswire· 2025-11-04 14:57
Core Insights - Worksport Ltd. is launching the COR modular portable energy system priced at $949, designed for various applications including work, adventure, and emergency readiness [1][10] - The COR system features a scalable architecture allowing users to add batteries as needed, providing a compact and portable power solution [2][10] Product Overview - The COR system consists of the COR HUB, a high-output inverter, and COR Batteries, each with a nominal capacity of 960 Wh, allowing for configurations from single to multiple batteries [2][3] - The system is designed to integrate with the SOLIS solar tonneau cover for efficient off-grid charging [1][8] Pricing and Configurations - The COR Starter Kit includes one HUB and one Battery for $949, with options for additional batteries priced at $1,598 for two and $1,949 for three [6][10] - Users can purchase batteries independently, enhancing the modularity and scalability of the energy solution [3] Technical Specifications - Each COR Battery provides approximately 1 kWh of energy, with AC output capabilities of four 120 V outlets and a continuous power of 1,800 W [7] - The system supports various charging options, including solar, with a built-in MPPT for efficient energy management [7][8] Use Cases - The COR system is versatile, suitable for applications such as campsite power, job site energy, and emergency home backup, with specific runtimes provided for different configurations [5][8] - When paired with the SOLIS solar cover, batteries can recharge in about 2-3 hours under optimal conditions, promoting a sustainable energy cycle [8] Future Vision - Worksport aims to position the COR system as a rapid-deploy power solution for emergency response, collaborating with agencies like the Red Cross and FEMA for mass-deployment in disaster scenarios [9][10] - The company envisions expanding the COR ecosystem with future product integrations to enhance market opportunities [3][10]
Worksport ($WKSP) to Showcase SOLIS™ and COR™ at SEMA 2025, Expanding Global Distribution Opportunities
Globenewswire· 2025-11-03 13:45
Core Insights - Worksport Ltd. is set to showcase its innovative clean-tech solutions, including the SOLIS Solar Tonneau Cover and COR Portable Energy System, at the 2025 SEMA Show in Las Vegas, highlighting its leadership in sustainable automotive solutions [1][2][6] Product Highlights - The SOLIS Solar Tonneau Cover captures and converts solar energy, while the COR system stores and delivers power on demand, creating a modular mobile nano-grid platform [5] - Both products are scheduled to initiate sales on November 28, 2025, and have completed successful third-party validation [5] Strategic Engagements - During the SEMA Show, the company plans to engage with national distributors, OEMs like Toyota, General Motors, and Ford, aiming to expand its market presence in North America and globally [3][4] - The company expects these engagements to accelerate market penetration for its expanding product lineup, which includes the new HD3 Heavy-Duty Tonneau Cover and other models [4] Market Context - The SOLIS and COR products are positioned to bridge two multi-billion-dollar markets: truck accessories and portable clean power, responding to the rising global demand for sustainable vehicle accessories and decentralized energy systems [6][7]
Worksport ($WKSP) Places Opening Purchase Order for COR Battery Systems; Prepares for Launch
Newsfile· 2025-10-31 13:01
Core Insights - Worksport Ltd. has placed an initial purchase order exceeding $1 million for its COR portable battery systems, marking a significant milestone in its commercialization efforts [1][4] - The order includes 900 COR units and 600 additional batteries, set to precede the launch of SOLIS and COR on November 28, 2025 [2][4] - The company is positioned for rapid expansion in the clean energy sector, with projected initial revenue opportunities of $2.45 million from the upcoming product launches [4][6] Product and Market Development - The COR system has been developed in collaboration with a leading global battery manufacturer, ensuring adherence to high-quality standards [3] - SOLIS and COR are designed to create a modular, mobile energy grid, previously selected for a pilot program by a major U.S. construction company [4][5] - The company aims to explore U.S.-based production opportunities as domestic battery technology evolves [3] Financial Performance and Projections - Worksport has reported consecutive record financial quarters, including a 31% gross margin achievement in July [6] - The company anticipates robust revenue acceleration through 2026, driven by an expanding intellectual property portfolio and growing OEM partnerships [7]
Worksport Announces Official Launch Date for SOLIS and COR Clean Energy Products
Globenewswire· 2025-10-30 12:31
Core Insights - Worksport Ltd. officially launches its SOLIS Solar Tonneau Cover and COR Portable Energy Storage System on November 28, 2025, marking a significant step into clean energy solutions [1][2] Product Launch and Pricing Details - The COR Starter Kit (Inverter + Battery) will be priced at $949, with the option to purchase additional batteries, while the SOLIS Solar Tonneau System will start at $1,999 [2] - The COR system can operate independently or in conjunction with the SOLIS solar array to create a portable, modular nano-grid for renewable energy [2] Revenue Potential and Strategic Impact - The initial rollout aims to deliver 1,000 COR units and 900 additional 1kWh battery packs, alongside a limited number of SOLIS solar tonneau covers, representing an initial revenue opportunity of approximately $2.45 million [4] - The company plans to scale production rapidly throughout 2026, targeting significant additional revenue [4] Market Expansion and Competitive Edge - The launch of SOLIS and COR broadens Worksport's customer demographics and market footprint, introducing a unique solar-powered ecosystem with no direct competition in the vehicle accessory market [6] - The tonneau cover business has shown explosive growth, increasing from $1.5 million in 2023 to an expected $24 million run rate by the end of 2025, with projections to exceed $100 million within two years [7] Product Validation and Performance - The COR portable power system has been validated through multiple performance tests, demonstrating its capability to power heavy industrial equipment in extreme conditions [8] - When paired with the SOLIS solar cover, the system forms a self-sustaining, portable nano-grid that can recharge faster than it discharges [8] Leadership Commentary - The CEO of Worksport emphasizes that the launch marks a new chapter for the company, integrating renewable power into the lifestyles of truck owners and clean-tech enthusiasts [9][10] Forward Outlook - The commercialization of SOLIS and COR is expected to accelerate Worksport's path to profitability and establish its position as a rising leader in the U.S. clean-tech sector [11] - Future plans include expanding the COR system into home and commercial applications, as well as adaptations for various industries [11]
Worksport Announces New HD3 Heavy-Duty Tonneau Cover Now in Production
Globenewswire· 2025-10-23 13:00
Core Viewpoint - Worksport Ltd. has officially launched its new HD3 Heavy-Duty tonneau cover, aimed at commercial and fleet applications, expanding its product lineup and market reach [2][4][7]. Product Overview - The HD3 is designed for maximum durability, featuring upgraded materials, reinforced seals, and heavy-duty latching systems, representing a significant evolution from the previous AL3 platform [3][7]. - Six models of the HD3 are currently in production, with configurations for popular truck models such as Ford F-150, Chevrolet Silverado/GMC Sierra, and Ram 1500 [6]. Sales and Market Strategy - Initial sales of the HD3 are expected to begin mid-November, strategically timed for year-end sales activity [4]. - Worksport's wholesale and B2B partners are anticipated to play a crucial role in penetrating the commercial and fleet markets, leveraging the HD3's durability as a key selling point [5]. Future Growth Prospects - The company plans to continue expanding its product offerings, with expectations of rolling out 25 or more models by December 2025 [6]. - Upcoming products include the SOLIS solar-integrated tonneau cover and COR portable power system, with further growth and sales updates expected soon [7].
Worksport Reports Record Q3 Revenue Growth and 2,300 Basis-Point Margin Expansion Ahead of Three Clean-Energy Product Launches
Globenewswire· 2025-10-16 18:00
Core Insights - Worksport Ltd. reported record quarterly revenue and gross profit for Q3 2025, achieving $5.015 million in revenue, a 62% year-over-year increase [2][9] - The company has demonstrated strong operational leverage with gross margins surpassing 31%, reflecting significant improvements from previous quarters [1][10] Financial Performance - Revenue of $5.015 million, up from $4.10 million in Q2 2025 (+22% QoQ) and $3.10 million in Q3 2024 (+62% YoY) [9] - Gross margin increased to 31% from 26.4% in Q2 2025 and 7.9% in Q3 2024, representing an increase of over 2,300 basis points year-over-year [9][10] - Gross profit reached $1.60 million, up from $1.08 million in Q2 2025 and $0.247 million in Q3 2024 [9] Production and Operational Efficiency - Production of 8,600 units in Q3 2025, accelerating from 6,000 in Q2 2025 and 4,300 in Q1 2025, indicating a 100% production increase in just two quarters [9] - The company expects to absorb incremental costs and R&D burdens associated with upcoming product lines while maintaining margin strength [7][10] Strategic Outlook - Upcoming product launches, including SOLIS, COR, and innovations from Terravis Energy, are anticipated to further enhance growth and profitability [6][11] - The company’s U.S. manufacturing base is positioned to reduce supply chain risks and is capable of generating over $100 million in annual revenue without further investment [10] Market Positioning - Worksport is well-positioned to benefit from the growing demand for renewable energy and off-grid power solutions, leveraging its dual presence in automotive accessories and portable energy systems [11]
EXCLUSIVE: Worksport Reports Record Q3 Revenue, Gross Profit
Yahoo Finance· 2025-10-16 17:46
Core Insights - Worksport reported record quarterly revenue and gross profit for Q3 2025, with revenue of $5.02 million, a 62% increase year-over-year, but slightly below the analyst consensus estimate of $5.58 million [1] - Gross profit surged 548% year-over-year to $1.60 million, with a gross margin expansion of 2,310 basis points to 31% [2] Financial Performance - Quarterly revenue increased by 22% from the previous quarter [1] - Gross profit rose 48.1% from the prior quarter, indicating strong operational performance [2] - The company produced 8,600 units in the quarter, up from 6,000 in Q2 and 4,300 in Q1 [2] Future Outlook - The U.S. tonneau cover factory is projected to achieve over $100 million in annual revenue without additional investment [3] - CEO Steven Rossi emphasized significant margin and revenue growth achieved prior to the launch of next-generation products, indicating a positive trajectory for the company [3] Stock Performance - Worksport shares were down 3.23% at $3.30, nearing a 52-week low of $2.44 [4]
Worksport Ltd. Successfully Closes $10 Million Regulation A Funding; Launch-Ready and Fully Capitalized for Early 2026 Cash Flow Positivity
Globenewswire· 2025-10-15 12:01
Core Insights - Worksport Ltd. has successfully completed a $10 million Regulation A offering, eliminating near-term capital uncertainty and enabling acceleration of product launches and operational growth initiatives in clean energy and automotive sectors [2][4][5] Funding and Capital Structure - The offering attracted strong participation from new retail and family office investors, featuring $4.50 warrants that provide success-based growth capital, exercisable as Worksport's valuation increases [3][4] - The capital raised is deemed sufficient to fund new product commercialization and support growth towards cash-flow positivity [5][6] Product Launch and Commercialization - Proceeds from the offering will be used to complete the commercial rollout of Worksport's flagship products, including the COR portable power system and SOLIS solar tonneau cover, both expected to launch in Q4 2025 [4][5] - The company is on track to announce official launch dates, specifications, and pricing soon as it scales production and expands its dealer network [5] Operational Performance - Worksport has achieved its fourth consecutive monthly sales record, with gross margins reaching 31%, one quarter ahead of schedule, indicating strong operational momentum [6] - The company is progressing towards sustained profitability and long-term value creation, supported by growing B2B adoption and enhanced U.S. manufacturing efficiencies [6] Strategic Vision - The CEO emphasized that completing the offering marks a defining moment for Worksport, enhancing market visibility and securing capital to launch clean-energy products, positioning the company for future growth and cash-flow positivity [4]
Worksport Subsidiary Terravis Energy Selected for Competitive NTAP Award to Analyze ZeroFrost™ Heat Pump Technology in Alaska
Globenewswire· 2025-10-06 12:30
Core Insights - Worksport Ltd. is collaborating with NREL to analyze its AetherLux™ Pro heat pump with ZeroFrost™ technology, targeting the multi-billion-dollar heat pump market [1][3] - The AetherLux Pro heat pump is designed to operate efficiently in extreme cold, addressing a significant challenge in cold-climate heating [2][5] - The global heat pump market is projected to exceed $135 billion by 2030, with government incentives promoting adoption [5] Company Developments - The collaboration with NREL will assess energy savings for Alaskan households and establish a roadmap for field demonstrations [3][5] - Initial laboratory results indicate superior performance of the AetherLux Pro heat pump, which could redefine heating solutions in cold climates [5][6] - Worksport's clean-tech portfolio includes the SOLIS Solar Tonneau Cover and COR Portable Energy System, both set for market launch in 2025 [6] Market Potential - The ZeroFrost technology aims to reduce energy costs and improve reliability for households, potentially opening new revenue streams and licensing opportunities for Worksport [5][6] - The project will analyze deployment challenges and advantages of the heat pump technology in Alaskan conditions [7]
Worksport ($WKSP) B2B Sales Surge as Active Dealer Network Expands 42% in One Quarter
Globenewswire· 2025-09-30 12:00
Core Insights - Worksport Ltd. is experiencing significant growth in its B2B segment, with a monthly geometric revenue growth rate of 25% and record dealer adoption [1][2][4] - The company has reported a 42% increase in regular volume orders from its dealer partners, rising from 187 to 266 in just one quarter [2] - Gross margins have improved significantly, increasing from 11% in Q4 2024 to a record 31% in July 2025, indicating effective strategic shifts towards higher-margin products [3] B2B Expansion - As of September 2025, Worksport has 600+ national dealer partners, with 266 providing regular orders, marking a substantial increase in dealer engagement [2] - The company achieved its highest B2B sales in history in August 2025, reflecting strong market demand [2] Margin Improvement - Worksport's gross margins have shown consistent improvement, climbing to 18% in Q1 2025, 26% in Q2, and reaching 31% in July 2025 [3] - This margin expansion is attributed to the company's strategic focus on higher-margin branded products [3] Product Pipeline - The upcoming HD3 Tonneau Cover is expected to enhance Worksport's presence in commercial and dealer markets, with further innovative models in development [4] - A new tonneau cover model is in late-stage development, with a market launch anticipated in Spring 2026 [4] Clean-Tech Initiatives - Worksport is on track to launch its SOLIS Solar Tonneau Cover and COR Portable Energy System in late Q4 2025, targeting the clean energy and EV support markets [5] - These products aim to create a portable nano-grid system for various applications, including campsites and emergency services [5] Growth Outlook - The company is entering a strong growth phase, driven by expanding dealer networks, compounding B2B sales, and the upcoming launch of clean-tech products [6] - CEO Steven Rossi emphasizes that this momentum positions Worksport as a promising emerging growth story on NASDAQ [6]