Yahoo Finanza Worksport Ltd. to Inspect Major Factory Equipment for U.S. Facility from January 19-21.
Richmond Hill, Ontario, Canada, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Worksport Ltd. (Nasdaq: WKSP; WKSPW) (the “Company” or “Worksport”) is pleased to announce the inspection of its commissioned custom manufacturing line. The assessment will take place by an agent of Worksport in Europe from Today January 19th to the 21st. The custom-made manufacturing line is essential to Worksport beginning and expanding automated production of its American-made hard folding truck covers. This manufacturing line will also produce components for Worksport’s highly anticipated SOLIS solar truck bed cover system.
The US$4 million custom manufacturing system is intended to automate the Company’s in-house production of major components for Worksport’s hard-fold tonneau covers, the basis for the much anticipated, highly innovative SOLIS solar truck bed cover.
“This machinery is needed to complete our 222,000 sq. ft. Western N.Y manufacturing facility, a key link in our drive to generate revenues and profitability,” said Worksport CEO, Steven Rossi. Rossi continued, “If everything is confirmed and approved, the production system is expected to arrive in the U.S. at the end of February. After the installation of the equipment expected to be in March, operator training is expected to take several weeks and conclude in April. We are very proud that hardcover parts will contain no single-use plastics or toxic sealants. Instead, bonding agents, which are cheaper, stronger and lighter as well as fully recyclable at the end of their usefulness, will be used. We intend to be a green company from start to finish in both products and manufacturing.”
Once operational, the New York factory will be used to produce Worksport’s proprietary hard tonneau covers. These products comprise the basis for SOLIS Solar Cover, expected to be the largest source of Worksport’s future growth and revenues — and which has interest from several major global automotive OEMs. A complete working SOLIS cover needs its companion COR battery with its advanced hot-swap technology to store and deploy its saved power for a myriad of uses.
“We hope to communicate good news on approval for the machine soon,” Rossi said.
“Approval will bring Worksport closer to production in our U.S. facility and allow us to shift focus to sales and revenue growth once the facility is in production,” added Rossi.
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 www.worksport.com.
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For additional information, please contact:
Steven Obadiah
Investor Relations
Worksport Ltd.
T: 1-(888) 506-2013
E: investors@worksport.com
W: www.worksport.com
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