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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Worksport Ltd.    WKSP

WORKSPORT LTD.

(WKSP)
  Report
Delayed Quote. Delayed OTC Bulletin Board - Other OTC - 12/04 03:59:42 pm
0.1575 USD   +14.55%
12/03WORKSPORT, LTD : Regulation FD Disclosure (form 8-K)
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12/03Worksport Announces Participation in the Benzinga Global Small Cap Conference
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11/24WORKSPORT, LTD : Regulation FD Disclosure (form 8-K)
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SummaryQuotesChartsNewsCompanyFinancials 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Worksport Engages Thermal Technology Services Canada to Test Increasing Solar Panel Efficiency

10/26/2020 | 07:30am EST

TORONTO, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Worksport Ltd (OTC:WKSP) (or the “Company”) has engaged Thermal Technology Services Canada, to test the Company’s groundbreaking TerraVis™ solar panel technology to increase its efficiency.

The tests were launched as Worksport recently made its first public disclosure about TerraVis™ , the very first solar-powered advanced folding truck bed tonneau cover system to be a fusion of cutting edge solar power, storage, and delivery. The platform takes advantage of a standard pick-up truck’s practical capabilities, while also utilizing the power of more sustainable and renewable energy. Proprietary, high efficiency solar panels built into the rugged tonneau cover—the likes of which Worksport™ has become widely known for—will collect the sun's rays and store energy in multiple battery banks.

“Worksport’s preliminary engagement with Thermal Technology is to see if we could increase the efficiency and conductivity of the metals used in our panels,” said Worksport CEO Steven Rossi. “The first results were very encouraging. We are pleased to report an increase in efficiency of about 2%. That can mean a lot over the long-term and is a competitive advantage.“

Thermal Technology’s Temperature Modulation enhances various metals’ performance, therefore strengthening Zinc, Silver and Copper, components of Worksport’s TerraVis™, by realigning their molecular structure. With the modulation, they become stronger and significantly longer lasting. However, it is believed that the increase of solar efficiency has been witnessed as a result of temperature modulations positive effects on silicone solar cells.

Worksport also intends to pursue testing the metal components and hardware of TerraVis™ solar panels to achieve greater strength and integrity. It will continue to collaborate with Thermal Technology and engage in further testing and product development.

“This is a very significant high-growth time for Worksport,” said Rossi. “We have a bright outlook and revenue model after forming a partnership with Atlis Motor Vehicles, Mesa, Ariz. That agreement is aimed at configuring the TerraVis™ solar charging system as an OE accessory for the highly anticipated, technologically advanced Atlis XT electric pickup truck. As result, increases in product efficiency of even a few per cent can be highly significant for future performance. Our mandate is to deliver the most advanced product and this testing and modulation contract is an example of it.”

Any interested investors or shareholders are encouraged to follow the company’s social media accounts on Twitter, Facebook, LinkedIn, and Instagram as well as sign up for the company’s newsletters on both www.worksport.com and www.goterravis.com, to stay up to date on all of the latest news. 

About Worksport Ltd.
Worksport Ltd., an innovative manufacturer of high quality, functional, and aggressively priced tonneau/truck bed covers for light trucks like the F150, Sierra, Silverado, Canyon, RAM, and Ford F-Series. For more information please visit www.worksport.com. Currently listed on the OTCQB Market under the trading symbol “WKSP.”

Connect with Worksport:

LinkedIn

Facebook

Twitter

Instagram

For further information please contact:
Mr. Steven Rossi
CEO & Director
Worksport, Ltd
T: 1-888-554-8789
E: srossi@worksport.com

Forward-Looking Statements
This document may contain forward-looking statements, relating to Worksport, Ltd. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Worksport, Ltd.’s ’s control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Worksport, Ltd. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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© GlobeNewswire 2020
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Financials (USD)
Sales 2019 1,93 M - -
Net income 2019 -0,41 M - -
Net Debt 2019 0,35 M - -
P/E ratio 2019 -4,89x
Yield 2019 -
Capitalization 10,5 M 10,5 M -
EV / Sales 2018 8,24x
EV / Sales 2019 1,34x
Nbr of Employees 1
Free-Float 79,6%
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Income Statement Evolution
Managers
NameTitle
Steven Rossi President, CEO & Secretary
Michael Johnston Chief Financial Officer
Lorenzo Rossi Director
Craig Loverock Director
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