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Worksport to Advance Power Electronics with Gallium Nitride Semiconductors, improving on Silicone-Based Technology

Worksport Semiconductors Infineon

Silicone-based semiconductors presently used by major chip manufactures such as NVIDIA present opportunities for innovation by Worksport.

West Seneca, New York, March 13, 2024 – Worksport Ltd. (Nasdaq: WKSP) (“Worksport” or the “Company”), an innovative automotive accessory manufacturer dedicated to developing clean energy solutions, announced today its strategic move to integrate Gallium Nitride (“GaN”) semiconductors in its upcoming product offerings. By choosing GAN semiconductors over more prevalent silicon-based chips that fuel even the AI chip leader, NVIDIA Corporation (“NVIDIA”), Worksport has embarked on an innovative journey to advance its technology to new heights with various partnerships, including a recently announced partnership with Infineon Technologies AG, which is a leading producer of GaN semiconductors.

The Shift Towards GaN

Silicone has been the dominant material for semiconductor manufacturing for decades due to its widespread availability and processing ease. NVIDIA built its industry dominance on silicon-based semiconductors in its GPUs. The contribution NVIDIA made to the semiconductor and computing industry is undeniable, but the world, however, is approaching the theoretical limit of how much more silicone-based technology can be improved. Recognizing this, Worksport’s goal is to push the boundaries of semiconductor innovation by integrating GaN into future versions of its COR Mobile Battery Generator Systems. This move is motivated by GaN’s potential to provide superior performance, increased efficiency, and reduced size and weight compared to conventional solutions.

The Advantages of GaN-based Semiconductors

Compared to silicon, GaN-based power switches feature lower overall capacitances, especially considering they do not have an anti-parallel body diode. GaN switches, therefore, allow for faster switching speeds and reduced power losses. GaN is also able to withstand higher temperatures than silicon. Worksport believes that using GaN semiconductors will raise the bar for efficiency, thermal management, and performance. Additionally, GaN semiconductors are wide band gap devices, allowing them to withstand much higher voltages than silicon-based devices while also assuming smaller packages. This feature can result in power converters with a much higher power density than typically found in silicon-based switches.

By leveraging GaN technology, Worksport believes that its future products will be able to deliver unmatched performance while also consuming less energy, resulting in longer battery life due to higher-efficiency power converters. Also, due to GaN semiconductors’ enhanced efficiency, GaN-based power converters irradiate less heat and have lower cooling requirements and a reduced need for cooling fans, leading the Company to believe it could make a more compact size of its power electronics. Moreover, Worksport believes that by using GAN semiconductors, it will be able to create more reliable and longer-lasting devices while reducing the risk of overheating and performance degradation.

Steven Rossi, Worksport CEO, expressed his enthusiasm, “Worksport’s adoption of GaN technology demonstrates our commitment to staying ahead of the curve and providing our customers with cutting-edge solutions that anticipate future trends and technological advancements. With innovation as an integral part of the Company’s DNA, we are committed to revolutionizing the power electronics industries with its state-of-the-art solutions and innovations.”

Rossi added, “Our integration of Gallium Nitride (GaN) technology sets us apart as a forward-thinking leader, committed to delivering unparalleled efficiency, performance, and future-proof solutions for the power electronic devices of tomorrow, emphasizing the importance of embracing emerging technologies to unlock new value and bring the automotive industry to the next level.”

NVIDIA made history with silicone-based semiconductors, and Worksport believes it is positioned to revolutionize the global power electronics industry with its innovative power electronics solutions utilizing the latest innovative semiconductors. With GaN’s potential for further optimization and future tech advancements, Worksport is poised to lead the way in the industry’s transition towards more efficient and powerful electronic systems.

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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