Worksport partners with a major U.S. construction firm to pilot solar tonneau covers and portable energy systems for evaluation.
Quiver AI Summary
Worksport Ltd. has announced a pilot project with a leading U.S. construction contractor that operates over 1,000 trucks, marking Worksport's first major collaboration with a significant player in the construction industry. The contractor will purchase and evaluate Worksport’s SOLIS solar tonneau cover and COR portable energy system for potential broader application within their fleet. This pilot aims to assess the performance and reliability of Worksport’s clean energy solutions in real construction settings, with feedback likely to inform future phases of scaling. Worksport’s CEO expressed optimism about the partnership and its potential for generating future revenue, particularly given the contractor's established relationships with federal agencies. The collaboration could pave the way for larger orders and additional opportunities in both public and private sectors.
Potential Positives
- Worksport has secured a pilot project with a leading U.S. construction firm that manages a fleet of over 1,000 trucks, marking a significant collaborative effort with a major industry stakeholder.
- The pilot aims to validate the performance and reliability of Worksport’s SOLIS solar tonneau cover and COR portable energy system in real-world construction environments, providing an opportunity for critical insights and potential future improvements.
- Upon successful completion of the pilot, Worksport anticipates potential larger scale orders, indicating significant revenue growth opportunities.
- The partnership could lead to exposure with additional commercial clients given the construction firm's established relationships with institutional and government clients, enhancing Worksport's market visibility.
Potential Negatives
- The pilot project is an initial engagement, indicating the company's products have not yet been validated in large commercial settings.
- There's a significant reliance on future phases and customer feedback for potential success, leaving the outcome uncertain.
- Worksport highlights various risks, such as supply chain delays and competition, that could affect product acceptance and market performance.
FAQ
What is Worksport's recent pilot project about?
Worksport has launched a pilot project with a leading U.S. construction firm to evaluate its SOLIS solar tonneau cover and COR portable energy system.
How many trucks does the collaborating construction firm operate?
The construction firm operates a fleet of over 1,000 trucks, which will be used to test Worksport's clean energy solutions.
When is Worksport set to publicly release its product line?
Worksport plans to publicly release its new product line in Fall 2025, following the pilot project.
What are the anticipated outcomes of the pilot project?
The pilot aims to validate the performance and reliability of Worksport’s systems in real-world construction environments, guiding future orders.
How can investors receive updates about Worksport's progress?
Investors can stay informed by checking Worksport's investor relations website and subscribing to their newsletters.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WKSP Hedge Fund Activity
We have seen 2 institutional investors add shares of $WKSP stock to their portfolio, and 22 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 360,501 shares (+inf%) to their portfolio in Q1 2025, for an estimated $1,149,998
- CITADEL ADVISORS LLC removed 55,576 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $177,287
- RENAISSANCE TECHNOLOGIES LLC removed 43,170 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $137,712
- GEODE CAPITAL MANAGEMENT, LLC removed 27,342 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $87,220
- TWO SIGMA INVESTMENTS, LP removed 15,790 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $50,370
- HRT FINANCIAL LP removed 13,368 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $42,643
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 12,242 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $39,051
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$WKSP Analyst Ratings
Wall Street analysts have issued reports on $WKSP in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- H.C. Wainwright issued a "Buy" rating on 03/28/2025
- Alliance Global Partners issued a "Buy" rating on 03/18/2025
To track analyst ratings and price targets for $WKSP, check out Quiver Quantitative's $WKSP forecast page.
$WKSP Price Targets
Multiple analysts have issued price targets for $WKSP recently. We have seen 2 analysts offer price targets for $WKSP in the last 6 months, with a median target of $6.5.
Here are some recent targets:
- An analyst from H.C. Wainwright set a target price of $11.5 on 03/28/2025
Full Release
Top 25 U.S. Construction and Energy Contractor To Purchase Worksport’s SOLIS Solar Tonneau Cover and COR Portable Energy System for Initial Pilot
West Seneca, New York, June 25, 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 a commercial-use pilot project with a leading US construction firm that has a fleet comprising over 1,000 trucks. Under this initial engagement, the construction firm has agreed to purchase units of the Worksport’s SOLIS solar tonneau cover and COR portable energy system to use and evaluate for broader application to their large truck fleet. This marks the Company’s first major collaborative project with a large construction industry stakeholder.
Steven Rossi, CEO of Worksport, commented: “We believe our COR and SOLIS systems will be an excellent fit for large commercial work fleets. We are excited to have a reputed; well-known construction Company purchase test units of our COR & SOLIS system to test within their network. We believe this collaboration underscores Worksport’s underlying excitement for the upcoming product line, set for public release in Fall 2025. We believe this relationship can be meaningful with significant revenue upside opportunities in the future.”
Initial Commercial Project Overview
-
Pilot (Phase I)
: Customer will receive
two purchased sets
of the Worksport SOLIS and COR systems. This pilot aims to validate the performance, reliability, and practical benefits of Worksport’s clean-tech solutions in real-world construction environments.
-
Strategic Feedback Loop
: Working with the customer’s innovation department, Worksport expects to receive detailed feedback and performance data in real-commercial settings. The construction company may also create and share marketing and media content for Worksport’s use.
-
Future Phases:
Upon successful completion of Phase I, Worksport anticipates moving to a
larger scale order
to implement Worksport’s nano-grid power system for broader use.
Strategic Outlook and Broader Implications
This collaboration not only creates a structured roadmap toward large-scale fleet adoption but also delivers an invaluable real-world industrial use case for Worksport’s COR & SOLIS nano-grid system. Importantly, the customer—recognized as a top-tier builder and engineering firm—serves a wide array of institutional and government clients , including the U.S. Army Corps of Engineers, Department of Homeland Security, U.S. Coast Guard, and General Services Administration (GSA). Their proven track record of delivering complex federal projects opens the door to meaningful exposure with additional future commercial clients. As this pilot progresses, Worksport expects to gain critical performance insights, foster a deeper partnership, and potentially unlock additional opportunities across both private and public sectors.
The Company looks forward to updating shareholders as this relationship evolves and new commercial pathways emerge.
For further information:
Investor Relations, Worksport Ltd.
T: 1 (888) 554-8789 -128
W:
investors.worksport.com
W:
www.worksport.com
E:
[email protected]
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 .
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 .
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 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.