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 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]

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]

Patent Portfolio Growth - Worksport increased its global patent portfolio by approximately 25% in the last 12 months, including both issued patents and pending applications [1][2] - The patent growth supports the company's existing product lines and future offerings, such as the SOLIS solar tonneau cover and COR portable power system [2] - Terravis Energy, a wholly owned subsidiary, contributes to the innovation pipeline with proprietary assets in Cold-Climate Heat Pumps [2] Strategic Alliance with LOT Network - Worksport joined LOT Network, a global consortium with over 4,500 members and 4.8 million patents, to protect against patent assertion entity (PAE) litigation [1][3] - Membership grants automatic licensing of patents enforced by PAEs, safeguarding Worksport and its business ecosystem [3] - Over 50% of PAE litigation targets companies with less than $25MM in annual revenue, highlighting the importance of this alliance [4] Innovation and Industry Collaboration - Worksport emphasizes its commitment to innovation and fair IP practices, urging other companies to join LOT Network to foster industry-wide collaboration [5] - The company's IP growth aligns with its mission to address real-world customer challenges through innovative, user-friendly, and safe products [2][5] Product and Market Focus - Worksport designs and manufactures tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions [8] - The company has an active partnership with Hyundai for the SOLIS Solar cover and is gaining traction in the EV sector with its hard-folding cover [8] - Worksport aims to capitalize on the growing consumer shift toward clean energy integrations with its proprietary solar solutions and Cold-Climate Heat Pump technology [8]

Worksport Subsidiary Terravis Energy Announces Two Major Heat Pump Breakthroughs, Begins 20-Day CountdownSolving Two Key Market Challenges; Successful R&D Has Achieved a Solution Expected to Revolutionize Home Heating & Cooling, While Being Affordable and Highly Efficient.January 22, 2025 7:55 AM EST | Source: Worksport Ltd.West Seneca, New York--(Newsfile Corp. - January 22, 2025) - Worksport Ltd. (NASDAQ: WKSP) ("Worksport" or the "Company"), a U.S. based manufacturer and innovator of hybrid ...

Solving Two Key Market Challenges; Successful R&D Has Achieved a Solution Expected to Revolutionize Home Heating & Cooling, While Being Affordable and Highly Efficient. West Seneca, New York, Jan. 22, 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, proudly announces that its subsidiary, Terravis Energy [LLC] (“TVE”), a [Delaw ...

Company Reports Unaudited Quarterly Revenue of $2.93 Million, Year-End Revenue Beat, Top-Line of $8.5 Million; Expects Further Expansion with New Products and Growing Margins West Seneca, New York, Jan. 21, 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 unaudited top-line revenues of approximately $2,90 ...

New Tri-Fold Model Expected to Launch in Spring 2025 Joins AL4 in Diversifying Product Mix, Driving Revenue Growth, Underscoring the Company’s Expanding Multichannel Market Vision West Seneca, New York, Jan. 07, 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 excited to announce a new premium tri-fold tonneau cover model, ...

New Tri-Fold Model Expected to Launch in Spring 2025 Joins AL4 in Diversifying Product Mix, Driving Revenue Growth, Underscoring the Company's Expanding Multichannel Market Vision West Seneca, New York, Jan. 07, 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 excited to announce a new premium tri-fold tonneau cover model, b ...

Company Reflects on Record Growth, 2025 Milestones, and Encourages Investors to Stay Tuned for Upcoming Developments West Seneca, New York, Dec. 30, 2024 (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, would like to extend warm holiday greetings and sincere appreciation to all shareholders, partners, and customers. As the year draw ...