WKSP Profile

OUR NEW PROFILE IS:  WKSP

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We have a new Nasdaq profile that we want you to put on your radar immediately for todays session.

Worksport Ltd. (NASDAQ:WKSP) cut its teeth in the auto accessories industry after its founding in 2011 and began producing and selling tonneau covers. Since then, it has expanded its offerings and built itself into a green energy solutions company specializing in off-grid, green power. Worksport took what worked with its automotive tonneau covers and added portable COR energy storage systems and hydrogen charging stations for EVs to its product suite.

Most notably, its mobile panel and solar generator system, Terravis, is in its final development stages. By enabling people to power day-to-day activities or extend the battery life of an EV, it may take renewable power to the next level.

With a brand new HQ opened in Mississauga, ON, Canada, a new 222,000 sq ft U.S.-based manufacturing facility purchased, significant OEM partnerships forged, and its Terravis System potentially weeks away from launch, Worksport Ltd. (NASDAQ:WKSP) finds itself at the apex of a potential revolution.

A revolution that, by 2026, could give it $500M+ potential. (Source 1)

Climate Change and Soaring Energy Costs

Within the next 18 years, climate change could make the world “sicker, hungrier, poorer, gloomier and way more dangerous” (4) or uninhabitable by 2500. (5) Oil’s price over the past year has more than doubled, gas prices hit their highest ever recorded average price, (8) and U.S. consumers face some of the priciest electric bills they’ve ever encountered.

WKSPT Is Tightly Held and at the Heart of an ESG Boom

In the month since Russia’s invasion of Ukraine began on Feb 24, 2022, the WKSP stock soared 18.13% from $1.93 on the day of the invasion to its Mar 23, 2022 close of $2.28. (11) With a Float of 12.76M, 30.10% of shares held by Insiders, and 4.77% of shares held by Institutions, as of Mar 24, 2022, (13) this stock is tightly held and can move fast when catalysts work in its favor- namely the boom in ESG investing.

Game-Changing Products That Could Benefit From Government Initiatives

Supportive government initiatives, both in the infrastructure bill and beyond, could significantly contribute to the growth of Worksport’s products. The recent State of the Union address also called for more investment in renewables and tax incentives to speed up solar deployment. (24)

Its Tonneau Covers Conquered the Industry Early..and Led to Bigger Things

Since 2011, Worksport has used its transformative tonneau covers to conquer the market. Its tonneau covers fit a variety of uses and budgets and provide game-changing features. Worksport then leveraged its tonneau success to become a sustainable energy company focused on creating solutions to help not only the automotive marketplace but also off-grid operations.

Terravis Could Completely Revolutionize Sustainable Energy and Energy Storage

The Terravis System is a mobile panel and solar generator system. You can use it to power your life or extend your electric vehicle range wherever you are. The integrated solar panels in the rugged tonneau cover collect the sun’s rays and store them in the high-capacity battery bank. The system then provides off-grid power using replaceable batteries. Batteries subsequently can charge via standard wall outlets, solar panels, 12V batteries, or patented Terravis SOLIS tonneau cover. (27)

The global renewable energy market could skyrocket from roughly $881.7 billion in 2020 to nearly $2 trillion by 2030. (Source 10) While there are many different ways to play this market, Nasdaq-listed renewable energy innovator Worksport Ltd. (NASDAQ:WKSP) could be the most disruptive force to penetrate this industry yet.

 

Source 1
Worksport Ltd. (NASDAQ:WKSP) could be a company to watch very very closely in this environment, and there are five primary reasons why.

Reason 1- Climate Change and Soaring Energy Costs

First and foremost, climate change will worsen unless human activity drastically adapts. Existing oil, gas, and coal demand caused global CO2 emissions to rise by nearly 5% in 2021. CO2 also reached its highest-ever concentration in the atmosphere- roughly 50% higher than the start of the industrial revolution. (Source 2)

As the U.N. says, climate change is “Code Red” for humanity. (Source 3) Within the next 18 years, it could make the world “sicker, hungrier, poorer, gloomier and way more dangerous”. (Source 4)

According to the World Economic Forum, if we fail to meet the Paris Agreement goals ASAP, much of the Earth could become uninhabitable by 2500. (Source 5)

Source 5

With higher and more volatile energy prices burning holes in people’s wallets, what better time than now for Worksport Ltd. (NASDAQ:WKSP) to spearhead the drastic changes needed to decarbonize energy and adopt renewable solutions?

Oil’s price over the past year has more than doubled, and soon, it could touch $200 (Source 6) or even $300 a barrel if the status quo remains. (Source 7) As recently as Mar 11, 2022, gas prices, both regular unleaded and diesel, hit their highest ever recorded average price. (Source 8)

Source 12
Due to these surging energy costs, U.S. consumers face some of the priciest electric bills they’ve ever encountered. According to the U.S. Energy Information Administration (EIA), the average residential electricity price increased by 4.3% in 2021 and could rise another 3.9% in 2022. (Source 9)
Source 9
By tapping into the vitality of clean energy in modern times, Worksport has innovated products more effectively and efficiently to confront these issues head-on.

Reason 2: WKSPT Is Tightly Held and at the Heart of an ESG Boom

Despite what certain politicians claim, the Russia-Ukraine war isn’t the only reason energy costs are through the roof. But it’s undeniably a reason why already inflated prices further skyrocketed. It shouldn’t be a surprise then why in the month since the full-scale invasion began on Feb 24, 2022, the WKSP stock soared 18.13% from $1.93 on the day of the invasion to its Mar 23, 2022 close of $2.28. (Source 11)

With a Float of 12.76M, 30.10% of shares held by Insiders, and 4.77% of shares held by Institutions, as of Mar 24, 2022, (Source 13) this stock is tightly held and can move fast when catalysts work in its favor.

More recent news beyond geopolitics and related climate change and ESG could work in Worksport’s favor too. The SEC just made a landmark decision in approving a proposal to require all publicly traded companies to disclose their greenhouse gas emissions and exposure to climate change risks. Companies will have to incorporate climate change into their financial reporting for the first time. (Source 14)

Even before the SEC threw down the hammer, many of the world’s largest companies had no other choice but to adopt lofty carbon neutrality climate goals. (Source 15) The number of institutional investors using ESG as “an integral part of sound investing” also rose 18% from 2019 to 2021, while fund selectors using ESG strategies rose from 65% to 77%. (Source 16)

More and more activist investors are also trying to force companies to adopt better ESG principles. Harvard Law notes that 2021 saw U.S.-based activist campaigns increase 14% year-over-year. ExxonMobil also lost a proxy fight when an activist hedge fund forced them to nominate at least two climate-friendly directors to its board. (Source 17)

Worksport Ltd. (NASDAQ:WKSP) and its solutions have been well ahead of the curve for over a decade and could thrive in this environment.

Reason 3: Game-Changing Products That Could Benefit From Government Initiatives

Worksport’s flagship tonneau covers have expanded into the ESS and Solar Energy space. We will go into further detail as to what makes Worksport’s products so unique and special, but supportive government initiatives could significantly contribute to their growth.

Consider the following:

Throughout its countless production stages, development cycles, and technological expertise, Worksport has discovered multiple ways to utilize solar technology to generate power, with or without electric pickup trucks. The underlying concept is universal to job sites, homes, vehicles, and more.

Worksport strives to take its innovative product offerings global while adapting them for further mobile usage and elevating the way people live and think about clean energy.

That just scratches the surface of why it’s so well-positioned for these government incentives.

Reason 4: Its Tonneau Covers Conquered the Industry Early..and Led to Bigger Things

11 million pickup trucks were sold in 2020, and by 2030, EVs could take up 32% of the market share. (Source 1)

Worksport was early to the party in 2011 and has used its transformative tonneau covers to conquer the market.

Its tonneau covers fit a variety of uses and budgets and provide game-changing features.

Source 25

Worksport then leveraged this to become a sustainable energy company focused on creating solutions to help not only the automotive marketplace but also off-grid operations.

And that’s how Terravis was born.

Reason 5: Terravis Could Completely Revolutionize Sustainable Energy and Energy Storage

The Terravis System is the next evolution of Worksport’s (NASDAQ:WKSP) mission to capitalize on the growing shift of consumer mindsets towards clean energy with its proprietary solar and green hydrogen-based technologies.

The Terravis System is a mobile panel and solar generator system. You can use it to power your life or extend your electric vehicle range wherever you are. The integrated solar panels in the rugged tonneau cover collect the sun’s rays and store them in the high-capacity battery bank.

Source 26
The system provides off-grid power using replaceable batteries. Batteries then can be charged using standard wall outlets, solar panels, 12V batteries, or patented Terravis SOLIS tonneau cover. (Source 27)
Source 28
Terravis has successfully undergone multiple testing phases with minimal changes needed. Production is on track to begin by the end of March 2022, with subsequent deliveries to reservation holders in Q2 2022. (Source 29)

Key Takeaways:

Renewable energy is crucial to battling climate change and inflated energy costs. It is integral towards evolving towards a far more sustainable way of living.

Worksport takes the practicality of standardized energy products and elevates them to increase storage and expenditure capacities and functionalities. The company is living proof that disrupting the standard way of life to meet the needs of both the consumer and the planet is beneficial to everyone.

So many catalysts are working in this company’s favor, both on the large-scale and company-specific scale.

Although nobody loves to see the planet burn due to human activity, companies like Worksport exist to do something about it. As the Terravis System prepares for its potential launch, it will be quite exciting to see how this company progresses.

MANAGEMENT

STEVEN ROSSI

CEO, Chairman of the Board

For the past ten years CEO Steven Rossi has been developing companies in the automotive industry. Mr. Rossi brings the ability to create a vision, mastermind innovative products and lead his team in the execution of the ensuing strategy. This was clearly demonstrated when his previous company in the auto parts and recycling business was acquired. While he has unquestioned experience and knowledge in the automotive industry he has also acquired the skills to be successful in any industry.

LORENZO H. ROSSI

Director

Over 25 years management experience in technology and founder of the very first E-learning Academy. Served as an Executive Director with Neotel which traded on the TSX. Managed a budget of 300 million dollars for the York Catholic District School Board.

AMB. NED L. SIEGEL

Independent Director
Ambassador Ned L. Siegel, (Ret.) is the president of The Siegel Group, a multi-disciplined international business management advisory firm. From October 2007 until January 2009, he served as the United States Ambassador to the Commonwealth of The Bahamas and he served on the Board of Directors of the Overseas Private Investment Corporation (OPIC) from 2003-2007.

CRAIG LOVEROCK

Independent Director
A Chartered Professional Accountant with over 24 years’ experience in accounting and finance roles in Canada, the United States and England with both public and private companies.

MICHEAL JOHNSTON

Director

Specialized in public company operations, financial statements, analysis, and IFRS. Holds both the Chartered Professional Accountant (Canada) and Certified Public Accountant (United States) designations. Therefore a great value for our team.
Sincerely,

The Viral Stocks Team

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Source 1: https://investworksport.com/ 

Source 2: https://www.iea.org/reports/global-energy-review-2021/co2-emissions 

Source 3: https://www.cnbc.com/2021/08/09/ipcc-report-un-climate-report-delivers-starkest-warning-yet.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard  

Source 4: https://fox8.com/news/parts-of-the-planet-will-become-inhabitable-says-climate-change-report/ 

Source 5: https://www.weforum.org/agenda/2021/10/climate-change-could-make-some-areas-of-earth-uninhabitable-by-2500/ 

Source 6: https://www.msn.com/en-us/money/markets/oil-prices-at-24200-is-no-longer-crazy-analyst-says-in-dire-warning/ar-AAUQiLT 

Source 7: https://www.cnbc.com/2022/03/08/russia-warns-of-300-oil-if-ban-goes-ahead-threatens-to-cut-off-european-gas.html 

Source 8: https://gasprices.aaa.com/page/2/ 

Source 9: https://www.eia.gov/todayinenergy/detail.php?id=51438 

Source 10: https://www.alliedmarketresearch.com/renewable-energy-market 

Source 11: https://schrts.co/WpswwxCf 

Source 12: https://finance.yahoo.com/news/goldman-sachs-sees-the-risk-of-us-entering-a-recession-114156355.html?fr=yhssrp_catchall 

Source 13: https://finance.yahoo.com/quote/WKSP/key-statistics?p=WKSP 

Source 14: https://news.yahoo.com/sec-proposes-first-mandatory-climate-150054083.html?fr=yhssrp_catchall 

Source 15:  https://www.visualcapitalist.com/ranked-the-50-companies-that-use-the-highest-percentage-of-green-energy/ 

Source 16: https://www.usgbc.org/articles/infrastructure-bill-could-pave-way-more-green-building-job-opportunities  

Source 17: https://corpgov.law.harvard.edu/2022/01/26/annual-review-of-shareholder-activism-2/ 

Source 18: https://www.bloomberg.com/professional/blog/esg-assets-may-hit-53-trillion-by-2025-a-third-of-global-aum/  

Source 19: https://www.businesswire.com/news/home/20201117006059/en/United-States-Renewable-Energy-Market-Report-2020-Growth-Trends-and-Forecast-to-2025—ResearchAndMarkets.com 

Source 20: https://goterravis.com/wp-content/uploads/2021/11/Worksport_Terravis_Product-Design-and-specs-1.pdf?inf_contact_key=733acd0bbac412b9eaf99fad27e9a0f5680f8914173f9191b1c0223e68310bb1 

Source 21: https://www.reutersevents.com/renewables/solar-pv/us-congress-passes-1-trillion-infrastructure-bill-spending-bill-tax-credits-could-hike#:~:text=US%20Congress%20passes%20bill%20to%20upgrade%20power%20grid,rising%20renewable%20energy%20capacity%20and%20demonstration%20cleantech%20projects. 

Source 22: https://www.forbes.com/sites/stacynoblet/2021/11/24/ev-charging-and-the-infrastructure-bill-converting-federal-investments-into-local-impact/?sh=7fe009866385 

Source 23: https://www.findthebestcarprice.com/electric-car-incentives/ 

Source 24: https://www.pv-tech.org/biden-calls-for-tax-incentives-to-accelerate-solar-deployment/ 

Source 25: https://worksport.com/?inf_contact_key=b6e607d893e36ce4a7c986919340dfc4680f8914173f9191b1c0223e68310bb1 

Source 26: https://worksport.com/terravis/ 

Source 27:  https://goterravis.com/ 

Source 28: https://goterravis.com/wp-content/uploads/2021/11/Worksport_Terravis_Product-Design-and-specs-1.pdf?inf_contact_key=733acd0bbac412b9eaf99fad27e9a0f5680f8914173f9191b1c0223e68310bb1 

Source 29: https://investworksport.com/worksport-pre-production-terravis-system-moves-to-final-stages-of-development/
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