Renewable Energy Equipment Manufacturing
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HyOrc Completes Factory Acceptance Test of 500kw ORC Turbine for International Customer
Globenewswire· 2025-12-31 13:21
Core Insights - HyOrc Corporation has successfully completed the Factory Acceptance Test (FAT) for its 500kW Organic Rankine Cycle (ORC) turbine, which is now ready for shipment to a project in Turkey [1][5]. Group 1: Factory Acceptance Test Details - The FAT was conducted by Bureau Veritas, a global testing, inspection, and certification group, on December 30, 2025, at HyOrc's manufacturing facility in Tamil Nadu, India [2]. - The inspection confirmed that the turbine met all required mechanical and operational criteria, with successful speed and RPM testing across multiple nozzle configurations, showing smooth acceleration and stable performance without any abnormalities [3]. Group 2: Company Overview and Future Plans - HyOrc Corporation specializes in developing and commercializing patented hydrogen-capable combustion and waste-to-fuel systems for various sectors, including shipping, rail, and off-grid power [6]. - The company has 737 million shares issued and is preparing for a Nasdaq uplist, indicating potential growth and increased visibility in the market [6].
Worksport to Present at Wall Street Reporter’s “Next Super Stock” Livestream on September 4, 2025, at 1 PM ET
GlobeNewswire· 2025-09-04 12:50
Core Insights - Worksport Ltd. is experiencing significant growth and innovation in the clean energy sector, with a focus on hybrid and clean energy solutions for light trucks and consumer goods markets [1][5] Financial Performance - Q2 2025 revenue reached $4.10 million, representing a 114% year-over-year increase and an 83% quarter-over-quarter increase, marking the highest quarter in the company's history [5] - Gross margin improved from 11% in Q4 2024 to 26% in Q2 2025, with expectations to exceed 30% by year-end [5] Dealer Network Expansion - The company has added over 450 new dealer accounts year-to-date, with full activation supporting approximately $21.5 million in annual repeatable revenue potential, excluding business-to-consumer sales [5] Manufacturing and Production - U.S. manufacturing in West Seneca, NY is scaling production to approximately 200 units per day, providing advantages in quality, tariff resilience, and competitive cost structure compared to offshore production [5] Product Innovation - Upcoming product launches include the HD3 heavy-duty tonneau cover in Q3 2025, the SOLIS solar-integrated tonneau cover, and the COR portable power system in Q4 2025, which together form a modular "nano-grid" energy solution [5] - The AetherLux cold-climate heat pump, capable of operating at temperatures as low as -51°C (-59.6°F), is advancing to commercial testing and is expected to be a major growth driver in 2026 [5] Strategic Partnerships - Worksport has an active partnership with Hyundai for the SOLIS Solar cover, enhancing its product offerings in the clean energy space [4]
Worksport Reports Q2 2025 Top-Line Revenue, Signals Profitability on Horizon with Expanding Margins and Product Momentum
Globenewswire· 2025-07-10 13:01
Core Insights - Worksport Ltd. has reported a significant increase in revenue and gross margins in Q2 2025, indicating a successful turnaround strategy and positioning for sustainable profitability [1][2][3] Financial Performance - The company achieved unaudited revenue of $4.1 million in Q2 2025, an 83% increase from Q1 2025 revenue of $2.24 million [2] - Gross margins improved by 47%, rising from 17.7% in Q1 to 26.0% in Q2, with expectations to exceed 30% by year-end [3] Strategic Developments - The management's strategic pivot towards a strong Made in America brand has been validated by the recent financial results, moving away from lower-margin private label production [2] - The upcoming launch of the SOLIS Solar Tonneau Cover and COR Portable Energy System is anticipated to unlock additional revenue streams, targeting high-margin markets [5][6] Product Innovations - The SOLIS cover has successfully produced over 500W of solar power, while the COR system has demonstrated Level 1 EV charging capabilities, including compatibility with Tesla vehicles [6] - Both products are currently in beta testing and are scheduled for commercial launch in late 2025 [5] Future Outlook - The company is on track to achieve $20 million in full-year revenue, with a clear path to cash flow positivity [7] - A full Q2 2025 financial report and earnings call are scheduled for mid-August, which will provide further insights into the company's performance and future strategies [7]