Worksport Ltd.
(Nasdaq:WKSP;
WKSPW) (“Worksport”) and its
subsidiary, Terravis Energy, Inc. (“Terravis” or the
“Company”) are pleased to announce that Terravis has begun to
consider partners in a supply chain for the Cold Climate, Air
Source Residential Heat Pump (CCHP). Terravis CEO Lorenzo H. Rossi
recently returned from Chicago’s 2024 AHR Expo, which attracted
more than 50,000 attendees and more than 1,600 exhibits, featuring
such leading industry suppliers as Bosch Ltd, Honeywell
International, Hitachi Heating and Cooling, and LG Electronics. The
annual Expo showcases the latest advancements and technologies in
heating, ventilation, air conditioning, and refrigeration. The
event is a crucial hub for networking, learning, and business
development within the industry. Lorenzo Rossi attended the AHR
Expo with a strategic objective – meeting suppliers and instituting
a commercial supply chain for the revolutionary CCHP.
“We have reached a tipping point in the
development of the Terravis Heat Pump, as it has gone through some
ultra-demanding tests in our Toronto R&D facility’s
cutting-edge ‘Arctic Chamber’ and is now undergoing extra tests. It
was a great experience to be at the AHR Expo alongside leading
companies like Bosch Ltd, Honeywell International, Hitachi Heating
and Cooling, and LG Electronics.” Lorenzo Rossi continued. “The
next step is finding the best suppliers who share our vision for
this technologically advanced, zero emission product. We are very
encouraged by high level of technology of the suppliers at the
Expo. They came from all over the world, and Terravis Energy forged
vital industry connections and discovered how these potential
partners can help move forward the development of this very
promising product.”
The forthcoming Terravis heat pump, is
anticipated to redefine the boundaries of heating technology
without the use of supplemental heat coils. It not only is expected
to withstand the harshest North American winters, but also is
anticipated to thrive in them, effortlessly maintaining a warm and
inviting indoor atmosphere, regardless of how icy it may be
outside. Its innovative design and advanced zero emission
technology is expected to ensure comfort and reliability no matter
how severe the weather could become.
“The Company anticipates announcing in the near
future its final decision on a name for the product, as we perfect
and finalize its design,” Lorenzo Rossi said. “Early test results
have surpassed our expectations, prompting the Company to begin
contacting potential suppliers
With a range of companies present at the event,
from Bosch Ltd and Honeywell International to Hitachi and LG
Electronics, Terravis will closely review which suppliers best
align with their objectives.”
“The Terravis Heat Pump is a very exciting
product that is anticipated to not only provide comfort to millions
around the globe but also contribute to reducing the carbon
footprint caused by fossil-fuel heating, one of the largest
contributors to carbon emissions worldwide, the presence of
companies such as Bosch Ltd, Honeywell International, Hitachi
Heating and Cooling, and LG Electronics at the AHR Expo
demonstrates that this is a significant movement in the industry.”
said Worksport CEO Steven Rossi. “It is an example of Worksport’s
across-the-board commitment to a zero emission future with high
technology products that enhance people’s lives – whether it’s a
heat pump in a cold climate or the SOLIS solar tonneau cover and
its companion COR portable battery system. The future is in zero
emission products that help reduce our carbon footprint, and
Worksport intends to be at the forefront of this worldwide
transformation.”
As always, Worksport and Terravis will
continue to update investors and shareholders as we refine the heat
pump’s eventual product name, what it looks like, how it will work
and when it will be launched. In addition, we will report
milestones on the product testing process and news as the heat pump
and other products, like the SOLIS solar truck cover and COR
battery system, progress to production models. As
always, Worksport will continue to update investors and
shareholders on our progress with all products as soon as
information is available.
For further information, please visit
Worksport’s official website for investors at
investors.worksport.com.
About Worksport
Worksport Ltd. (Nasdaq: WKSP; WKSPW), 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 currently maintains 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 by Stellantis, General Motors brands GMC and
Chevrolet, Ford, Jeep by Stellantis, 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.
Worksport strives to provide frequent updates of
its operations to its community of investors, clients, and
customers to maintain the highest level of visibility.
LinkedInFacebookX (previously Twitter)InstagramYouTube
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 the Accounts to announce
Company news and other information. The information shared on the
Accounts could be deemed to be material information. As a result,
the Company encourages investors, the media, and others to review
the information the Company publishes on the Accounts.
In order to comply with Regulation FD, the
Company does not selectively disclose material non-public
information on any Account. If there is any significant financial
information, it is the policy of the Company to release it broadly
to the public through a press release or SEC filing prior to
publishing it on one of the Accounts.
For additional information, please contact:
Steven Obadiah, Investor Relations, Worksport Ltd.
T: 1 (888) 554 8789 E:
investors@worksport.com W: www.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. As Worksport
continues to innovate and expand the product line, it's important
to clarify the compatibility of Worksport's hard-folding cover.
This advanced accessory is designed to fit a variety of popular
truck models, including RAM by Stellantis, GMC and Chevrolet from
General Motors, Ford, as well as Jeep by Stellantis, Nissan, and
Toyota pickup trucks. While we are proud of the broad compatibility
of our product, we would like to emphasize that this does not imply
exclusive partnerships with RAM by Stellantis, GMC, Chevrolet from
General Motors, Ford, Jeep by Stellantis, Nissan, and/ or Toyota.
Our commitment remains to provide high-quality, versatile truck
accessories that meet the needs of a diverse range of customers and
their vehicles. This statement looks forward to the possibilities
that lie ahead while recognizing the current scope of our product's
reach and compatibility. This statement applies to RAM by
Stellantis, GMC and Chevrolet from General Motors, Ford, as well as
Jeep by Stellantis, Nissan, and Toyota, and to any other model for
which we have not officially announced a partnership. Terravis
Energy, a fully-owned subsidiary of Worksport LTD, may reference
companies such as Tesla as examples for market development, given
Tesla's development of a heat pump. However, this does not imply
that Terravis Energy has established a partnership with Tesla.
Similar references to companies like Tesla in examples or
explanations are purely informational and are used solely for the
purpose of illustrating market trends or technological
developments. Forward-looking 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.
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