West Seneca, N.Y., Aug. 15, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) announced year-over-year revenue growth for the second quarter of 2023. This growth is largely credited due to the Company’s focus on establishing new business-to-consumer and business-to-business sales channels.
Beside the focus on new sales channels, the Company began shipping soft-folding tonneau covers following the Company's recent receipt of a substantial $720,000 purchase order recently announced in July 2023.
In addition to this revenue growth, Worksport is gearing up for more. As of early August 2023, the Company commenced the manufacturing of hard-folding tonneau covers, buoyed by a tremendous $1,600,000 in purchase orders. With this momentum, Worksport is setting its sights on further horizons: the launch of the eagerly anticipated SOLIS Solar Cover and the innovative COR Battery System.
Worksport CEO Steven Rossi expressed his optimism, "We believe we are just witnessing the start of our revenue growth. But what's even more compelling is our vision for the future. While we celebrate our recent successes, we are now channeling our energies, focused on balancing, optimizing, and perfecting our first assembly processes. This optimization is expected to pave the way for dramatically increasing our production capacities, with plans to add more assembly lines."
As part of this ambitious expansion, the Company is ramping up its engineering resources dedicated to the development of the SOLIS Solar Cover and COR Battery system. These twin innovations represent Worksport’s commitment to integrating sustainable solutions within the truck accessory landscape and the broader consumer markets for mobile power.
With its start of revenue growth and forward-looking projects, Worksport stands as a testament to innovation, adaptability, and growth in the automotive accessory space.
Worksport management plans to release updates relating to the statuses of both the SOLIS Solar Tonneau Cover and the COR Battery System in the near future. For further information, please find the Company’s recent SEC filings here and visit the Company’s official website for investors here.
About Worksport Ltd.
Worksport Ltd. (Nasdaq: WKSP; WKSPW), through its subsidiaries, designs, develops, manufactures, and owns the IP 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 Ltd. 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. For more information, please visit investors.worksport.com
Connect with Worksport:
Please follow the company’s social media accounts on Twitter, Facebook, LinkedIn, YouTube, and Instagram, as well as sign up for the company’s newsletters at investors.worksport.com. Worksport Ltd. strives to provide frequent updates of its operations to its community of investors, clients, and customers to maintain the highest level of visibility.
For additional information, please contact:
Steven Obadiah
Investor Relations
Worksport Ltd.
T: 1 (888) 554 8789 E: investors@worksport.com W: www.worksport.com
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