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Worksport Awarded ‘Innovator of the Year’: Growth Catalyst

NASDAQ:WKSP

West Seneca, New York, June 13, 2024 — Worksport® Ltd. (NASDAQ: WKSP), a key U.S.-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, is proud to announce that it has been awarded “Innovator of the Year” by Buffalo Business First. This prestigious accolade recognizes Worksport’s commitment to pioneering advancements in the automotive sector.

Worksport’s “Innovator of the Year” award emphasizes a significant growth catalyst represented by its products, particularly the SOLIS Solar Truck Bed Cover and COR Portable Battery Generator System. The Alpha launch of these revolutionary clean-tech products is expected to take place this summer.

Revolutionary Products Driving Innovation

Worksport’s innovative edge is exemplified by its groundbreaking products like the Worksport SOLIS and COR duo. The SOLIS cover is a first-to-market solar-integrated tonneau cover, designed to provide eco-friendly energy solutions while maintaining the functionality of a truck bed cover. This revolutionary product harnesses solar power to provide power “on the go,” making it a game-changer for truck owners and overlanding enthusiasts. The SOLIS cover—expected to be compatible with major truck brands such as Ford F-Series, Chevrolet Silverado, and Ram pickup trucks—is set to tap into an estimated multi-billion-dollar market segment.

The COR portable energy system, another milestone in Worksport’s innovation journey, is designed to provide mobile, clean energy “on the go.” Ideal for work settings and outdoor enthusiasts, the COR system offers unparalleled versatility and convenience, reinforcing Worksport’s commitment to sustainable energy solutions.  Further, the Company anticipates expansion of the COR system into many peripheral markets, opening new possibilities for Worksport.

“This award from Buffalo Business First is a testament to our team’s relentless pursuit of innovation and excellence,” said Steven Rossi, CEO of Worksport. “The SOLIS and COR product lines are major growth catalysts for Worksport, and we are excited for their anticipated Alpha releases this Summer.”

Strategic Growth and Market Expansion

Worksport has demonstrated significant growth and strategic market expansion. Starting full-scale production in January 2024, the Company launched direct-to-consumer (B2C) sales in late Q1, quickly gaining traction and capturing substantial interest from dealers and consumers. The recently secured partnership with a prominent Midwest distributor, renowned for its 50-year legacy in the automotive industry, is expected to further enhance Worksport’s market presence. The Company has seen great early traction in B2C sales from Q2 2024 and will provide an update in the coming days.

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,” “expect,” “future,” “intend,” “plan,” “project,” “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 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.

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