Sponsored // 5 Min Read

Hyundai wants this company’s off-grid power source in their trucks…(1)

Meet The Most Exciting ESG and Clean Energy Play You’ve Never Heard About.

Worksport Ltd. (NASDAQ: WKSP): See Why One Analyst Suggests the Company is 45% Undervalued.(2)

Worksport subsidiary Terravis Energy Accepts Offer from Indigenous Critical Infrastructure Fund to be Exclusive Clean Energy Partner for Sustainable Energy Infrastructure

5 Reasons to Hitch Your Trailer to This Emerging Clean Energy Star Worksport Ltd.

Reason 01

Pickups are the top selling vehicles in the United States.3 EV pickups have limited range due to battery capacity.4 Worksport’s SOLIS could provide an estimated 10 additional miles for EV pick-up trucks.5

Reason 02

Outdated grids can mean more frequent and longer weather outages and are also paying more for electricity.6 Worksport COR provides a portable energy storage system (ESS) capable of powering whatever customers need, no matter where they are.5

Reason 03

The hardest part of a grid failure due to a cyber attack is repowering it following a collapse.7Worksport COR features exclusive “Advanced Hot Swap” technology allowing batteries to be exchanged without ever cutting power. The commercial applications are far-reaching because failure to have such a backup power system for critical loads doesn’t just cost dollars and create inconvenience—it can cost lives.8

Reason 04

In February 2022 Simply WallStreet wrote that Worksport Ltd. (NASDAQ: WKSP), “appears quite good value at a 45% discount to where the stock price trades currently.” 2

Reason 05

Hyundai Inked a Deal with Worksport Ltd. (NASDAQ: WKSP) to produce prototypes of Worksport SOLIS and a modified version of the COR energy storage system based on the Hyundai Santa Cruz’s bed geometry.1

Here’s a very interesting fact.

By 2030 – the largest automotive markets will go electric – EVs would need to account for 75 percent of passenger car sales globally by 2030, which significantly outpaces the current course and speed of the industry.9

But this info will blow your mind.

Did you know SUVs and passenger vehicles are NOT the top selling automobile in the United States? It’s pickup trucks. 3 The numbers from the first quarter of 2022 are out. According to Reuters, the first three vehicles on the list are all pickup trucks from Ford, Ram, and Chevrolet.3 Now consider this, the electric trucks market is estimated to be 69,597 units in 2021 and is projected to grow at a CAGR of 39.7% during the forecast period, to reach 1,413,694 units by 2031. 10

However, There’s Trouble in EV Paradise with These THREE GIGANTIC Challenges.

Worksport Ltd. (NASDAQ: WKSP): Developing High-Demand Clean Energy Solutions That Help Bridge Green Innovation Gaps

Look, there’s no question the world will be powered by renewable green energy. But it’s never going to happen with the stroke of a pen, or every good intention combined.

Renewables require continued innovation efforts to bridge innovation gaps in a host of integration technologies. New designs and prototypes are also needed to expand the reach of renewables. 16

That’s created a generational market opportunity for Worksport Ltd. (NASDAQ: WKSP). Not only that, but it also opens the door to do great things for the world.

While Worksport owns multiple patents and has a tremendous IP portfolio, the need for renewable energy solutions and green demand spawned SOLIS and COR as early answers to help the fledgling EV market.

First came SOLIS, the world’s first solar tonneau cover, capable of generating up to 600 watts of power. Then COR was developed to help convert gas or electric powered pickups into portable power generation and energy storage storage systems.

But as mentioned above, there was still the issue of unreliable grids and potential cyberattacks. That inspired CEO Steven Rossi to think even bigger. So he established a new company to the Worksport portfolio, Terravis Energy Inc. which was born in 2022.

The birth of Worksport Terravis Energy, Inc., a powershift into clean, renewable energy

This new division was created to help lead the way to a greener, more sustainable tomorrow fully dedicated to the pursuit of decarbonized transportation and a zero-carbon footprint.

Terravis Energy, Inc. designs, develops, and manufactures clean, green energy solutions that power lifestyle markets, with each segment of the company feeding into the derivation of the brand itself – Latin for “Earth” and “Force.”

Introducing the “closed loop of green” covering everything from recreational, to home, and business which management believes offers boundless revenue potential 

The company foresees the future of the electric vehicle markets and sustainable energy markets through multiple lenses and includes three incredible products.

Huge market opportunity for a fast-charging solution to help increase the adoption of electric vehicles

According to the ICCT (International Council on Clean Transportation) in order to support an electric vehicle stock of 26 million in the United States in 2030, public and workplace charging will need to grow from approximately 216,000 chargers in 2020 to 2.4 million by 2030, including 1.3 million workplace, 900,000 public Level 2, and 180,000 direct current fast chargers.16

Non-Parasitic Electric Vehicle (NPEVTM) is a fast-charging platform which combines ultra-efficient hydrogen fuel cells with solar to create completely carbon-free charge points that can re-energize Battery Electric Vehicles (BEV).

But here’s where things get very interesting. The Terravis NPEV is completely independent from the power grid. As such, power failures or rolling blackouts will never affect its ability to deliver electricity. This will guarantee BEV owners the ability to charge their vehicles – even when the electricity goes out in their neighborhood.

Plus there are multiple revenue options available for the NPEV. One would be to sell the unit as- is and provide 24×7 over-the-air monitoring and maintenance. Another option would be to retain ownership and collect revenues from BEV charges.

And yet a third option would be a hybrid of the prior two. This is definitely a RIGHT NOW product with RIGHT NOW use and a RIGHT NOW market.

Moving powerfully into the thriving $59.5 billion nanogrid market 

Terravis Nanogrid™ is designed to power houses and is modular where excess power can be directed toward utilities such as cry-pto mining.

Nanogrids are restricted to a single building or a single load and, therefore, do not conflict with regulations prohibiting the transfer or sharing of power across a public right-of-way.

And boy are nanogrids hot!

In fact, a number of familiar names are already active in these nanogrid markets, among them Bosch, Eaton, Emerson Network Power, Johnson Controls, and NRG Energy.

Navigant Research forecasts that global nanogrid vendor revenue will grow from $37.8 billion in 2014 to $59.5 billion in 2023.17

But here’s the really cool part. In addition to being grid independent, the Terravis Nanogrid will not require any building site preparation. In other words, a house can be built anywhere without electrical transformers, natural gas lines, etc.

How big is that?

From powering entire data centers to lighting up entire communities

Many counties and even US states, like New York, want to become green hydrogen hubs and are counting on fuel cell microgrids to help it get there.

Green hydrogen releases zero greenhouse gas emissions when used in a fuel cell, yet it is strong enough to power a forklift, long-distance semi-truck, or even entire neighborhoods via a microgrid.

That’s where the Terravis Microgrid™ system, composed of a number of Terravis Nanogrid™ systems, can really light up this fast-growing market.

The Terravis Microgrid™ is scalable and will be sold as a complete turnkey system, depending on the needs of the customer. There will also be an over-the-air monitoring and maintenance cost commensurate to the size of the system on location.

North America microgrid market is expected to develop considerably, owing to the rising use of advanced technologies, with the goal of avoiding power outages. Data Bridge Market Research reports that the microgrid market will exhibit a CAGR of 12.50% for the forecast period of 2022-2029. 18

Revenues on tap: Worksport major manufacturer’s representation

Management believes that the production prototypes of these new flagship products are expected within two months – and that means the potential for revenues!

This is probably why in March of this year Worksport announced they’d contracted leading manufacturers’ representative firm, N.A. Williams Company.

The company serves eCommerce marketplaces that include Amazon, eBay, and mass retail through Walmart, with NewEgg and Sears. They also serve national accounts that include Advance Auto Parts, AutoZone, Costco, and Home Depot.

Products will also include:

– SOLIS: The world’s first solar tonneau cover, capable of generating up to 600 watts of power.
– COR: A portable energy storage system (ESS) capable of powering whatever customers need, no matter where they are.

Then there is COR ESS (energy storage system) is a standalone product that can be sold separately.

  • Worksport Terravis System can generate and store power while protecting the pickup truck’s bed.
  • COR ESS can use energy created from SOLIS, the tonneau solar cover, and utilize the stored energy on the go, anywhere.
  • At its best, SOLIS could provide up to 10 additional miles for EV pick-up trucks. This is based on a 98kWh battery under optimal conditions at 85% efficiency.

 

Worksport Ltd., through its subsidiary, designs, manufactures, and distributes truck tonneau covers in Canada and the United States. The company offers soft cover (SC) and tough cover (TC) tonneau covers, including SC3, a tri-fold cover that seals around the truck bed with a rubber gasket designed to protect cargo from moisture and debris; SC3pro that allows the operator to open the cover by pulling a release cable; and TC3, a thick aluminum tri-cover panel with a honey-comb core coated in a durable black scratch-resistant powder coating. It is also developing TerraVis, a solar cover tonneau cover that gives rechargeable portable power to pickup truck owners.

Worksport, Ltd. An Incredible Growth Story From $0 to $30 Million and Beyond

From humble beginnings producing tonneau covers, the company had the foresight to develop many patents and a robust intellectual property portfolio to help break the barrier to entry in this ultra-competitive industry.

That’s because for Worksport CEO Steven Rossi, it’s not just about competing, it’s being at the forefront of thought leadership in an industry with very little vision. From there Worksport would crossover into something much bigger and much more lucrative – the renewable energy market. 

Rossi grew up with a passion for the outdoors. Particularly going camping in his uncle’s big red Ford pickup truck, that’s when Steven developed a love for pickup trucks as it gave him that “go anywhere, do anything” vibe. (11)

He left university early to start his own business and learn from hands-on experience. Over 10 years Rossi reflected on his passion for pickup trucks, from a business perspective. 

As the trucks got better and better, the products owners were outfitting their trucks with were not. 

There was nothing new and innovative to complement these great new pickups. Rossi combined this with the drive to do good for the world. 

He grew Worksport Ltd. from nothing by creating products that were innovative and affordable for truck owners. As a pickup truck enthusiast, he understood from a business perspective what truck owners wanted and needed. 

So Worksport created a tonneau cover that complimented and enhanced trucks. (11)

And no one is going to be able to steal the thunder of what they’ve accomplished. Worksport Ltd has:

  • 26 patents properties
  • 8 issued patents
  • 18 pending (with 2 more in the process of being filed in Canada, but not yet confirmed)
  • 29 trademark properties (in various states of procurement) in the U.S., Canada, China, European Union, Australia, New Zealand, and United Kingdom.
  •  

Taking a Page from One of The World’s Most Successful Businesses – Magna International

Worksport’s business model is quite savvy. Perhaps taking a page out of one of the most successful automobile parts manufacturers in North America, Canadian powerhouse Magna International, Inc. with sales exceeding $20 billion. (12)

If you know the history of Magna you can’t help but notice some astonishing parallels.  

In 1957 Magna was established Multimatic Investments Limited, which was a tool and die company (with annual sales of $13,000), expanding into the production of automotive parts in 1960 with its first contract from General Motors. (12)

By 1968 its sales had grown to $2.6 million. From 1976 to 1979, Magna implemented a product diversification strategy, organizing its various divisions into product groups. By 1979 its annual sales had grown to $108.3 million. By 1989 its sales had grown to $1.2 billion. (12)

Can Patents and a Well-Developed IP Strategy Once Again Lead to Unparalleled Success?

With innovation being so important to its business, Magna had a well-developed intellectual property strategy in which the filing for patents was a crucial element in this strategy.

Aren’t the similarities amazing? Worksport Ltd. looks to be following in the footsteps of an incredibly successful business model.

 

This is one of those rare and lucrative "crossover" plays that bridges the gap between pick-up accessories and clean energy storage.

What makes this so powerful is not just the crossover factor, but we’re talking about combining the number one selling trend in automotive 3 with the race to green energy which is literally transforming the ENTIRE planet.

After many late nights, the company had that aha moment when the big idea came to create
Worksport’s Terravis System featuring a solar tonneau cover and off-grid battery system.

Now any gas or EV pickup truck could generate power using solar. 8

Worksport combined all of this gear together and founded Terravis Energy. A company that has the real possibility to make history during our generation.

 

2021 Provided a Rock-Solid Foundation for a Potential Banner 2022 for Worksport Ltd.

According to CEO Stephen Rossi, “During 2021 we focused our energy on building inventory knowing that making the transition from manufacturing in China to North America was going to cost us some production days. Overall, we are in a good position to revamp our manufacturing and sales practices and make good strides in just that.” (13)

It appears 2021 was a great foundation building year for Worksport as they:

By anyone’s standards 2021 was an excellent year of accomplishment all pointing to the growth and expansion of their alternative energy efforts. 

And boy is that market ripe for the picking. The Battery Energy Storage System Market size is expected to grow from USD $4.4 billion in 2022 to USD $15.1 billion by 2027, at a CAGR of 27.9%. (14)

 In a modern economy increasingly dependent on electric power, blackouts can wreak havoc when the loads are critical to life, business, and even a comfortable lifestyle. 

The problem may be growing, but Worksport COR with its exclusive “Advanced Hot Swap” technology is looking to quickly fill that gap in what management believes is a market begging for such a product that’s designed to be more.

Opportunity Alert: Simply WallSteets Analysis Model Suggests WKSP is 45% Undervalued!

In February 2022 Simply WallSt. published an article estimating WSKP’s intrinsic value by taking the expected future cash flows and discounting them to their present value using the Discounted Cash Flow (DCF) model. (2)

They concluded, “Compared to the current share price of US$2.6, the company appears quite good value at a 45% discount to where the stock price trades currently. Remember though, that this is just an approximate valuation, and like any complex formula.(2)

Hyundai Inked a Deal with Worksport Ltd. (NASDAQ: WKSP) in What Could Be a Watershed Moment to Many King-Size Opportunities

Hyundai America Technical Center, Inc. (“HATCI”) executed a letter of understanding with Worksport to produce prototypes of the Worksport SOLIS and a modified version of the COR energy storage system to be placed on a yet to be announced vehicle based on the Hyundai Santa Cruz’s bed platform. (1)

Worksport is working side by side with HATCI engineers to produce a solar cover specifically for Hyundai’s new vehicle. Once complete the Hyundai America Technical Center Inc., will Present their latest innovation featuring Worksports’ patented Solar tonneau cover technology to Hyundai head office for approvals.

You see, this is not just Worksport making a sale to Hyundai. Not at all. The potential is much bigger than that because this is an internal project – Hyundai WANTS this technology to be part of their base design. 

Now if successful, and management believes it certainly appears to be heading in that direction, this should open the door to so many new market opportunities. 

But more importantly…

This under-the-radar company has all the potential to profit from one of the fastest moving causes on the planet – carbon reduction and clean, off-grid energy. 

Yes indeed, we very well could be at the crossroads of a historic market opportunity. 

5 Reasons to Hitch Your Trailer to This Emerging Clean Energy Star Worksport Ltd.

Reason 01

Pickups are the top selling vehicles in the United States.3 EV pickups have limited range due to battery capacity.4 Worksport’s SOLIS could provide an estimated 10 additional miles for EV pick-up trucks.5

Reason 02

Outdated grids can mean more frequent and longer weather outages and are also paying more for electricity.6 Worksport COR provides a portable energy storage system (ESS) capable of powering whatever customers need, no matter where they are.5

Reason 03

The hardest part of a grid failure due to a cyber attack is repowering it following a collapse.7Worksport COR features exclusive “Advanced Hot Swap” technology allowing batteries to be exchanged without ever cutting power. The commercial applications are far-reaching because failure to have such a backup power system for critical loads doesn’t just cost dollars and create inconvenience—it can cost lives.8

Reason 04

In February 2022 Simply WallStreet wrote that Worksport Ltd. (NASDAQ: WKSP), “appears quite good value at a 45% discount to where the stock price trades currently.” 2

Reason 05

Hyundai Inked a Deal with Worksport Ltd. (NASDAQ: WKSP) to produce prototypes of Worksport SOLIS and a modified version of the COR energy storage system based on the Hyundai Santa Cruz’s bed geometry.1

Source 1: https://finance.yahoo.com/news/worksport-hyundai-america-technical-center-133000869.html
Source 2: https://simplywall.st/stocks/us/automobiles/nasdaq-wksp/worksport/news/an-intrinsic-calculation-for-worksport-ltd-nasdaqwksp-sugges
Source 3: https://www.motorbiscuit.com/pickup-trucks-top-q1-2022-led-ford-f-150/
Source 4: https://www.caranddriver.com/features/a36051980/evs-explained-battery-capacity-gross-versus-net/
Source 5: https://www.usatoday.com/story/sponsor-story/worksport/2021/09/29/new-product-adds-sustainable-energy-go-solar-anywhere-new-system/5883209001/
Source 6: https://apnews.com/article/wildfires-storms-science-business-health-7a0fb8c998c1d56759989dda62292379
Source 7: https://urbansurvivalsite.com/how-fragile-is-the-u-s-power-grid/
Source 8: https://goterravis.com/
Source 9: https://www.globenewswire.com/news-release/2022/03/28/2411086/0/en/Ongoing-Transformation-is-the-Future-to-Electric-Vehicle-EV-Sales-and-Penetration-Acceleration-in-major-Markets.html
Source 10: https://www.marketwatch.com/press-release/electric-trucks-market-developments-key-growth-drivers-key-challenges-forecast-2032-2031-2022-04-12
Source 11: https://youtu.be/4nv2vVPK5C0
Source 12: https://www.apec.org/-/media/APEC/Publications/2010/12/Strategic-Intellectual-Asset-Management-for-Emerging-Enterprises/TOC/Canada-Magna-International-Inc-The-challenge-of-integration-to-the-global-supply-chains.pdf
Source 13: https://finance.yahoo.com/news/worksport-ltd-2021-highlights-133000652.html
Source 14: https://www.prnewswire.com/news-releases/battery-energy-storage-system-market-worth-15-1-billion-by-2027–exclusive-report-by-marketsandmarkets-301490426.html
Source 15: https://www.ft.com/content/a37d0ddf-8fb1-4b47-9fba-7ebde29fc510
Source 16: https://theicct.org/publication/charging-up-america-assessing-the-growing-need-for-u-s-charging-infrastructure-through-2030/
Source 17: https://www.utilitydive.com/news/honey-i-shrunk-the-grids-the-emergence-of-nanogrids/407283/
Source 18: https://www.databridgemarketresearch.com/reports/north-america-microgrid-market
Source 19: https://www.globenewswire.com/news-release/2022/03/31/2413989/0/en/Worksport-Contracts-N-A-Williams-Company-for-eCommerce-Marketplaces.html