Worksport Highlights Strong Reception Of Terravis Energy’s AetherLux Product Reveal, And Shares Additional Testing Data West Seneca, New York, March 06, 2025 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ: WKSP) (“Worksport”), 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 provide an update on its subsidiary, Terravis Energy, Inc. (“TVE” or the “Company”). TVE proudly announces a strong positive rece ...

Core Insights - Worksport Ltd. has expanded its dealer network by 30% in the first two months of 2025 and has launched its AL4 Premium Tonneau Cover for direct purchase online [1][2][4] - The company has increased sales from $1.5 million in 2023 to a run rate of approximately $1 million per month in 2024, with expectations that the AL4 cover will be its best-selling product in 2025 [3][5] Sales and Product Launch - The AL4 Tonneau Cover features premium materials and design for enhanced durability and user-friendliness, with five models expected to be available by the end of February 2025 [2][4] - The company plans to introduce new models to the AL4 lineup every month, enhancing its direct-to-consumer sales strategy [2][5] Future Growth and Innovations - Worksport aims to leverage the success of the AL4 cover to support future product launches, including the SOLIS solar tonneau cover and the COR portable nano-grid system, which are planned for later in the year [4][5] - The expansion of the dealer network and the introduction of the AL4 cover are seen as critical steps in bolstering the company's revenue growth and shareholder value [5]

Core Viewpoint - KULR Technology Group and Worksport Ltd. have formed a strategic partnership aimed at enhancing battery technology and boosting domestic manufacturing capabilities in the energy sector [1]. Key Areas of Collaboration - The partnership will focus on joint battery pack development, thermal runaway protection, and AI-integrated battery management system (BMS) software design [1][9]. - KULR will employ its KULR ONE Design Solutions (K1-DS) to assess the performance, cost efficiency, and scalability of integrated battery solutions for Worksport's COR system [3]. Market Growth and Business Impact - The collaboration is in response to increasing demand for U.S.-based production, driven by tariffs and market preferences for American-made energy solutions [4]. - Worksport's revenue increased by over 450% from 2023 to 2024, exceeding a monthly run rate of $1 million, with projections indicating potential nine-figure revenues in the next two to three years [5]. - The portable energy system market is expected to grow to between $21.95 billion and $24.8 billion by 2032, with a projected CAGR of 16% to over 24% [6]. Specific Initiatives - The joint development of the COR Battery Pack System will optimize BMS requirements and enhance overall system performance and safety [9]. - The integration of AI-driven software into the BMS will facilitate real-time monitoring and predictive maintenance, improving battery lifespan and safety [9]. - KULR's patented thermal runaway protection technology will be incorporated into Worksport's battery systems to enhance safety and longevity [9].

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, eliminating the need for defrost cycles [1][2][4] - The global heat pump market is projected to exceed $148 billion by 2030, growing at a CAGR of 9.4%, indicating significant market potential for the AetherLux system [2] Product Features - AetherLux features ZeroFrost technology, which prevents ice buildup and eliminates energy-draining defrost cycles, enhancing operational lifespan and efficiency [3][4] - The system is designed to operate in extreme temperatures, with a targeted range of -50°F to +131°F, and is expected to deliver a coefficient of performance (COP) of 3.0 to 3.5 at -57°F [5][6] - The AetherLux Pro variant is built for ultra-performance, ensuring uninterrupted heating even in harsh winter conditions [6] Environmental Impact - The AetherLux heat pump 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 Positioning - The innovative design and eco-compliant technology of the AetherLux system are expected to accelerate heat pump adoption, reduce climate impact, and lower energy costs for consumers [4][5] - The product's performance metrics are considered virtually unmatched in the current market, positioning Worksport and Terravis Energy as leaders in the HVAC sector [7]

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]

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]

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 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]