Worksport Subsidiary Terravis Energy Unveils Revolutionary Heat Pump, Eliminating Defrost Cycles & Shattering Performance Standards; AetherLux™
West Seneca, New York, Feb. 11, 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, today announced that its wholly owned subsidiary, Terravis Energy, a Colorado corporation ('TVE'), has achieved a major industry milestone with the unveiling of the revolutionary AetherLux™ heat pump system.
Heat pumps are an answer to inefficient and outdated heating sources. The AetherLux product line has achieved a significant technological advancement on existing heat pumps. Set to feature three high performing models, the Pro Model debuts TVE's proprietary ZeroFrost™ technology, eliminating the need of Defrost Cycles, preventing a commonly known heat pump drawback, freezing. Tested to successfully work at temperatures as low as -57°F and as high as +131°F, AetherLux is expected to redefine performance standards in a global heat pump market projected to exceed $148 billion by 2030, growing at 9.4% CAGR.
TVE's ZeroFrost Technology: A Leap Beyond Defrost Cycles
AetherLux leverages ZeroFrost, an innovative TVE technology that eliminates the need for energy-draining defrost cycles. By preventing ice buildup, the system avoids thermal stress and minimizes wear on components—critical issues plaguing conventional heat pumps. This breakthrough extends the product's operational lifespan and sustains efficient heating and cooling in extreme environments. Worksport believes the strength of this innovation redefines the HVAC market, and the ability to target billions of customers, world-wide. Worksport shares the global reveal below, along with more details.
Defrost-Free Design: No auxiliary heating system is necessary, reducing costs and energy consumption.
Extreme Temperatures: The TVE heat pump has been tested to work in temperatures believed to be unmatched by competitors, from -57°F to +131°F. The AetherLux Pro variant is expected to deliver robust home heating and cooling comfort, year-round. The targeted operating range is -50°F to +131°F, subject to real-world-conditions.
High Efficiency: The TVE heat pump has an estimated COP of 3.0 to 3.5 at -57°F and an HSPF of 11.0 to 12.5, substantially cutting energy usage.
AI-Driven Optimization: Intelligent software adapts operations in real time, ensuring peak efficiency under changing conditions.
R32 Refrigerant: The TVE heat pump utilized a refrigerant that is compliant with the 2025 Clean Air Act regulations, aligning with evolving environmental standards. Heat pumps reduce the risk of Carbon Monoxide Poisoning.
said Lorenzo Rossi, CEO of Terravis Energy. 'Currently, heat pumps can be extremely inefficient during cold weather, having to rely on during defrost cycles. Our innovation of current heat pump technology by eliminating the need altogether. Given the redesigned configuration and eco-compliant technology, we believe it will , delivering a solution that should increase the speed of heat pump adoption, reduce climate impact, and save customers money on their energy bill.'
Global Reveal and Product Information:
Terravis Energy expects to offer two affordable variants of the AetherLux system:
AetherLux (Performance Unit): Engineered for versatility, handling climates from hot to -13°F (-25°C) with optimized efficiency. Available in 18,000 and 36,000 BTU units, preorders, further details and pricing are coming soon.
AetherLux Pro (Ultra-Performance Unit) – Built for every climate, featuring ZeroFrost™ technology, highly efficient, ensuring uninterrupted heat delivery even in the harshest winter conditions.
Investors, corporations, and global heat pump distributors interested in learning more about the AetherLux launch can visit: AetherLux Reveal Website. Reveal video also available, here
For inquiries, contact: info@terravis.com ; LinkedIn ; +1 (888) 554-8789 x128
Steven Rossi, CEO of Worksport, parent company to Terravis Energy, remarked: 'Terravis's breakthrough is the result of three years of cutting-edge R&D. We expect significant commercial interest, given the product's virtually unheard-of performance metrics. , we believe this technology is an underrecognized asset within our Company. As Terravis moves toward commercialization, I'm tremendously excited about the impact on Worksport's future.'
Learn more about Terravis's Parent Company, Worksport Ltd (NASDAQ: WKSP): https://investors.worksport.com.
Stay tuned for more information and join our mailing list to stay up to date with the latest. Join Worksport's Newsletter
About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. 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 Cold-Climate Heat Pump (CCHP) 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.
Product social media
Investor social media
X (formerly Twitter)
FacebookYouTube
LinkedInLink to Newsletter
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 social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media.
The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
For additional information, please contact:
Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: investors.worksport.com W: www.worksport.com E: investors@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,' 'scheduled,' 'expect,' 'future,' 'intend,' 'plan,' 'project,' 'envisioned,' 'should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These 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 latest 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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Chicago Tribune
2 days ago
- Chicago Tribune
Emissions testing in Lake, Porter counties could be phased out under new law
Indiana Gov. Mike Braun signed a bill Friday that reviews air quality standards and vehicle emission testing. Senate Enrolled Act 103, authored by Sen. Rick Niemeyer, R-Lowell, and Sen. Dan Dernulc, R-Highland, requires the Indiana Department of Environmental Management to evaluate the air quality within nonattainment areas, which includes Northwest Indiana. The bill also identifies air pollution reduction or regulatory relief strategies to align with federal Clean Air Act standards. Braun signed the bill at the Lake County Government Center, flanked by Lake County officials. The law aims for the 'eventual phase out of the inspection and maintenance program for light-duty vehicles.' The law also aims to withdraw Lake County and Porter County from the Metropolitan Chicago Interstate Air Quality Control Region. Under the law, which was sponsored by many Northwest legislators, IDEM has to submit a comprehensive report to the governor and state lawmakers by June 30, 2026, according to a statement from State Rep. Mike Andrade, D-Munster. Braun signed the bill with Niemeyer, Dernulc, Andrade, Sen. Lonnie Randolph, D-East Chicago; Sen. Mark Spencer, D-Gary, State Rep. Julie Olthoff, R-Crown Point, standing around him. Before signing, Braun said when he was in the legislature in 2015, he recalled legislators talking about how to address vehicle emissions. He was able to sign the bill because the legislature was able to 'pick up the gauntlet,' Braun said. Some people may bring up environmental concerns with the law, Braun said. 'Mother Nature, the environment, and conservation have been dear, deep issues for me,' Braun said. 'If it's not making sense, you do something that makes it easier.' In 2021, the Lake County Council sued the state to eliminate emissions testing in Lake County, stating it's unfair that only Northwest Indiana counties require emissions testing. Dernulc referenced the lawsuit and how the county lost, so he said he looked forward to IDEM completing the study. Niemeyer said legislators have spent years fighting to change emission testing procedures. The emissions program 'was necessary at one time, but not necessary now.' Lake County has had to follow the emissions testing because of its proximity to Chicago, Randolph said, and state legislators have been fighting the measure for years. 'I'm very pleased to see this happen,' Randolph said. 'I'm very pleased, governor, that you're here, and I'm happy that you took the time to come here to sign this bill.' Andrade said in a statement that the law will allow state officials to review how Indiana regulates emissions and whether some policies can be improved. 'We know clean air is critical to our health and safety, especially in industrial regions like Northwest Indiana. But we also know some of our testing requirements may be outdated or overly burdensome. This study will help us find that balance,' Andrade said in the statement. The law allows for 'responsible deregulation,' Andrade said, by updating systems that might not benefit residents while prioritizing public and environmental health. 'This isn't about rolling back protections. It's about using real data to guide future decisions,' Andrade said in the statement. 'Northwest Indiana deserves clean air and smart policy. With this law, we're working toward both.'
Yahoo
3 days ago
- Yahoo
Worksport Reports Q2 2025 Top-Line Revenue, Signals Profitability on Horizon with Expanding Margins and Product Momentum
Company Achieves Breakout Quarter as Turnaround Strategy Gains Traction; Clean-Tech Product Launches Poised to Accelerate Growth West Seneca, New York--(Newsfile Corp. - July 10, 2025) - 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, today announced unaudited Q2 2025 topline results, delivering a breakout quarter that is expected to position the Company for sustainable profitability and long-term growth. The Company delivered unaudited revenue of $4.1 million in Q2 2025, marking an 83% increase over Q1 2025 revenue of $2.24 results mark a major validation of the Company's strategic pivot away from lower-margin private label production, underscoring management's strategic focus on a strong Made in America brand with a robust supply chain substantially within the USA. In parallel, gross margins increased 47%, rising from 17.7% in Q1 to 26.0% in Q2. June 2025 recorded the Company's highest monthly gross margin to date, with Worksport on track to exceed 30% gross margins by year-end, setting the stage for strong operating leverage. Momentum Building Toward Strong EBITA "This quarter's topline and margin performance validates the steps we've taken over the last year," said Steven Rossi, CEO of Worksport. "We're executing on all cylinders - sales are scaling, margins are improving, and we're laying the groundwork for sustainable profitability. The real catalyst lies just ahead with the launch of our innovative SOLIS and COR nano-grid system." Flagship Product Launches to Unlock Additional Revenue Streams Worksport's upcoming SOLIS Solar Tonneau Cover and COR Portable Energy System—both in Beta testing in North America—are scheduled for commercial launch in late 2025. Together, these proprietary technologies will form a modular clean-energy nano-grid, targeting high margin multi-billion-dollar markets, ranging from portable power to overlanding, grid-resilient utility, and EV range top-up. As previously reported, Worksport's patented SOLIS cover successfully produced more than 500W of solar power, while the COR system demonstrated Level 1 EV charging capabilities, including for Tesla vehicles. Market response to early testing has been strong, with additional updates expected in the Company's Q3 2025 earnings call. Full Q2 Report and Earnings Call Coming Mid-August "As we turn the corner on our strategy for strong EBITA and profitability, we are seeing impressive alignment of the Company's fundamentals in a way that unlocks shareholder value," added Rossi. "With strong revenue growth, expanding margins, and disruptive new products launching in 2025, Worksport is emerging as one of the most exciting stories on the small-cap growth radar. The best is yet to come and just around the corner." The full Q2 2025 financial statements and earnings call are scheduled for mid-August. The Company also recently announced record production output and further traction in B2C and B2B sales, reinforcing its revenue trajectory. Management has previously projected $20M in full-year revenue, with a clear anticipated path to cash flow positivity. More information will be made available in the near future regarding the Company's COR Portable Energy System & SOLIS Solar Tonneau Cover commercial launches, including final release specifications, pricing, and go to market strategy, among other topics. For further information:Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: W: E: investors@ Join: Worksport's Newsletter About Worksport Worksport Ltd. (NASDAQ: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. 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 Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is 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 Social Media Disclaimer 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. 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 social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media. 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," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These 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 situation 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 latest 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 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. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Yahoo
Worksport Delivers Record Production With 100%+ Margin Growth as Revenue Tracks Toward $20M Milestone Ahead of Clean-Tech Product Launch
West Seneca, New York--(Newsfile Corp. - July 7, 2025) - 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, announced today a transformational leap in performance-achieving a 50% increase in monthly production volume since March 2025, while delivering more than a 100% improvement in gross margins over the past five months. These milestones are underscored by readily increasing demand. Record Production Surge Sets the Stage for Strong Growth In May 2025, Worksport produced more units than it did during the entire third quarter of 2024, setting a new monthly production record. This was achieved without adding proportional headcount, signaling a notable increase in operational efficiency. With demand accelerating every month and orders consistently outpacing supply, the Company is evaluating an expanded production schedule. Worksport's operational agility is supported by a $2.8 million job creation grant, previously awarded in momentum has surged, with the Company's distribution footprint growing nearly six-fold-from 94 dealers in Q4 2024 to over 550 today. Many small sample orders have scaled into full recurring partnerships, fueling an aggressive growth flywheel. Margin Expansion Powers Path To Profitability "Our ability to double gross margins while boosting production by 50% is a testament to our team's relentless focus on efficiency," said Steven Rossi, CEO of Worksport. "This performance brings us significantly closer to cash flow positivity and long-term value creation." Gross margin has soared from 11% in Q4 2024 to over 23% in May 2025, with projections to surpass 30% by year-end. This margin expansion is driven by increasing factory utilization, rising direct to consumer sales, strategic focus on premium branded products, and the operational leverage of Worksport's ISO 9001:2015-certified facility in West Seneca, NY. The Company maintains modest margin on dealer sales, committing to its support of brick-and-mortar resellers, the backbone of the US economy. A Fundamentally Transformed Business Following revenues of $1.5 million in 2023 and $8.5 million in 2024, Worksport is now on track to eclipse $20 million in revenue in 2025. Recently posting multiple consecutive months of record-breaking production, growing market demand, and strong dealer adoption, the Company has rapidly evolved into a high-growth, margin-rich platform. Worksport's expects it can grow its tonneau cover business to excess of $100,000,000 annually within the short term. It sees the potential for its upcoming portable nano-grid system, the SOLIS and COR to vastly exceed that. Worksport's hard covers are Made in America, with predominantly American domestic materials, largely reducing the impact of the Trump administration's current tariff policies-especially those expected under President Trump's recently passed "Big Beautiful Bill" targeting imported goods. The Company's U.S.-based supply chain strategy provides insulation from rising foreign material costs, aligning with national efforts to bolster domestic manufacturing. Rossi added, "We are manufacturing more, putting out higher quality product utilizing framework of our recent ISO certification, growing margins, expanding our dealer footprint, and preparing for a clean-tech product launch that could redefine our future. In our view, 2025 is not just a strong year-it's a pivotal turning point, which will lead to transformative years ahead." Clean-Tech Revolution Incoming: SOLIS & COR Launching Fall 2025 All signs indicate a major inflection point for the Company as it prepares to launch its SOLIS solar-integrated tonneau cover and COR portable nano-grid power system this Fall. Designed to serve a combined $13 billion market, these products represent the Company's entry into clean-tech and portable power-with high-margin, high-growth, and recurring revenue potential. In a powerful validation example, a top 15 U.S. construction company has selected the SOLIS & COR duo for a paid pilot project, substantiating both market interest and product innovation. For further information: Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128}W: W: E: investors@ Join: Worksport's Newsletter About Worksport Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. 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 Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is 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 Social Media Disclaimer 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. 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 social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media. 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," "scheduled," "expect," "future," "intend," "plan," "project," "envisioned," "should," or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. These 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 situation 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 latest 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 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. To view the source version of this press release, please visit Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
