Worksport Ltd announces a Fall 2025 launch of its SOLIS and COR systems, projecting $2-3 million in initial revenues.
Quiver AI Summary
Worksport Ltd. has announced the upcoming launch of its modular nano-grid system, SOLIS & COR, in Fall 2025, following successful engineering milestones. These innovative products will generate over 4,000Wh of solar energy, targeting markets including vehicles, jobsites, the military, and portable power. With this launch, the company projects to significantly increase its total addressable market from $4 billion to over $13 billion, anticipating $2-3 million in new revenues for 2025. The SOLIS solar tonneau cover and COR portable power system are designed to serve both the pickup truck market and global consumer applications, positioning Worksport for rapid growth in the expanding portable energy market, expected to grow at a 24.2% CAGR. The systems are nearing production readiness, having passed necessary tests and preparing for retail certification and sales.
Potential Positives
- Confirmation of a Fall 2025 commercial launch for the SOLIS and COR systems, indicating strong progress in product development.
- Projected revenue generation of $2-3 million in 2025 from the new products, signifying strong commercial traction and financial growth potential.
- The company’s total addressable market is expected to triple from $4 billion to over $13 billion, indicating significant expansion opportunities.
- Successful completion of engineering validation and beta deployment with real-world customers, demonstrating strong product-market fit and system performance.
Potential Negatives
- Company's revenue forecast for 2025 is relatively low at $2-3 million, which may signal slower market penetration compared to larger competitors.
- The press release acknowledges significant competition from a Chinese competitor reportedly growing at 300% annually, raising concerns about market share and viability.
- Forward-looking statements highlight significant uncertainties, including supply chain delays and consumer acceptance, which could impact the success of the new products.
FAQ
What is the SOLIS & COR modular nano-grid system?
The SOLIS & COR system is a modular energy solution that generates and stores solar power for vehicles and other applications.
When will SOLIS & COR be commercially launched?
Both products are set for a commercial launch in Fall 2025, following successful engineering milestones.
What revenue does Worksport expect from SOLIS & COR in 2025?
Worksport anticipates generating between $2-3 million in new revenue from these systems in 2025.
How does the SOLIS system benefit pickup truck owners?
SOLIS empowers over 60 million pickup trucks in the U.S. to generate and store renewable energy anytime, anywhere.
What markets are targeted by the SOLIS & COR systems?
The systems target various markets including vehicles, jobsites, military, and portable power applications globally.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$WKSP Hedge Fund Activity
We have seen 2 institutional investors add shares of $WKSP stock to their portfolio, and 22 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ARMISTICE CAPITAL, LLC added 360,501 shares (+inf%) to their portfolio in Q1 2025, for an estimated $1,149,998
- CITADEL ADVISORS LLC removed 55,576 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $177,287
- RENAISSANCE TECHNOLOGIES LLC removed 43,170 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $137,712
- GEODE CAPITAL MANAGEMENT, LLC removed 27,342 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $87,220
- TWO SIGMA INVESTMENTS, LP removed 15,790 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $50,370
- HRT FINANCIAL LP removed 13,368 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $42,643
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 12,242 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $39,051
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$WKSP Analyst Ratings
Wall Street analysts have issued reports on $WKSP in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- H.C. Wainwright issued a "Buy" rating on 03/28/2025
- Alliance Global Partners issued a "Buy" rating on 03/18/2025
To track analyst ratings and price targets for $WKSP, check out Quiver Quantitative's $WKSP forecast page.
$WKSP Price Targets
Multiple analysts have issued price targets for $WKSP recently. We have seen 2 analysts offer price targets for $WKSP in the last 6 months, with a median target of $6.5.
Here are some recent targets:
- An analyst from H.C. Wainwright set a target price of $11.5 on 03/28/2025
Full Release
Company Projects Millions in New 2025 Revenues. Modular Nano-Grid System Delivers 4,000Wh+ of Solar Generated Energy; Targeting Vehicles, Jobsites, Military, and Portable Power Markets.
West Seneca, New York, June 05, 2025 (GLOBE NEWSWIRE) --
Worksport Ltd.
(NASDAQ: WKSP)
(“Worksport” or the “Company”), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, today confirmed a
Fall 2025 commercial launch
for its much-anticipated modular nano-grid system, known as
SOLIS & COR
.
This announcement follows the successful
completion of key engineering milestones
and validation benchmarks across both systems. The Company also released initial revenue forecasts, signaling strong commercial traction ahead of launch.
Designed to function either independently or as an integrated energy ecosystem, the SOLIS solar tonneau cover and COR portable power system are engineered to empower over
60 million pickup trucks in the U.S.
with the ability to
generate and store power
—anytime, anywhere. Importantly, while the SOLIS tonneau cover targets the pickup truck market, the COR system can serve a wide range of broad global consumer applications, unlocking new lifestyle and recreational verticals - “anybody, anywhere”. As a result, the Company’s
total addressable market (TAM)
is projected to
triple
, expanding from $4 billion to more than
$13 billion
.
Figure 1: Closeups of the Worksport SOLIS & COR Nano-Grid
“The portable energy market is expanding rapidly, with a projected
CAGR of 24.2%
,” said
Steven Rossi
, Chief Executive Officer of Worksport. “After three years of focused development, we’re excited to confirm the 2025 launch of SOLIS and COR. These are transformational platforms that open the door to
the North American and global consumer markets
, long-term scalability, and a new chapter of innovation for our Company.”
Engineering Validation and Product Readiness
Worksport’s
COR modular portable power system
has successfully passed all internal and third-party laboratory tests. The Company has finalized tooling and received initial
production-ready units
, which have been submitted for
global UL certification
. Approvals are expected within approximately two months.
In parallel, the
SOLIS solar-integrated tonneau cover
has completed initial beta deployment with real-world customers. These early commercial users have
paid
for their systems, and have already begun leveraging SOLIS in everyday conditions, demonstrating robust system performance and strong product-market fit. The Company views these achievements as critical technical validation ahead of full-scale commercialization.
Read more about the Worksport COR & SOLIS System: [
here
]
Revenue Outlook and Strategic Market Positioning
Following third-party validation, Worksport anticipates generating
$2-3 million in new 2025 revenue
from SOLIS and COR—representing a
high double-digit gross margin vertical
distinct from its core tonneau cover business. With both systems advancing toward market launch, management expects these products to scale rapidly, targeting
8-figure annual revenue in 2026
and long-term recurring growth in the mobile power and clean energy markets. Complementing Worksport’s existing 8-figure and growing tonneau cover business.
SOLIS is a patented,
first-of-its-kind solar solution
in the U.S. truck accessories sector—an expanding and resilient market with strong demand among North American pickup truck owners. Meanwhile, COR is being positioned to directly
challenge market leaders
in the portable power industry, including a Chinese competitor reportedly growing at 300% annually with over
$1 billion in projected yearly sales
. Worksport believes COR will compete favorably on
performance, an innovative patented design, and pricing
, bolstered by U.S.-based operations and a proprietary modular architecture.
Manufacturing Progress and Commercial Launch Plans
The SOLIS system is currently in assembly at Worksport’s
ISO-certified U.S. facility
near Buffalo, New York. Manufacturing planning for COR is proceeding in parallel, aligning with targeted launch timelines and ensuring readiness for scaled deployment. As the Company finalizes certifications and market preparations, it anticipates sharing
further updates in the coming weeks
regarding product availability, retail pricing, and an expanded roadmap for the SOLIS-COR ecosystem.
“These aren’t just new products—they’re
strategic platforms
for multi-channel expansion,” added Rossi. “COR and SOLIS are built to solve real-world challenges, designed with
mass-market scalability
in mind, and protected by a
robust IP portfolio
. With testing complete and final prototypes in hand, we are now ready to bring these innovations to market with full confidence.”
For further information:
Investor Relations, Worksport Ltd.
T: 1 (888) 554-8789 -128
W:
investors.worksport.com
W:
www.worksport.com
E:
investors@worksport.com
Join:
Worksport’s Newsletter
About Worksport
Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport’s hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the electric vehicle (EV) sector. Worksport 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 Cold-Climate Heat Pump (CCHP) technology. Terravis Energy’s website is
terravisenergy.com
.
Connect with Worksport
Please follow the Company’s social media accounts on
X (previously Twitter)
,
Facebook
,
LinkedIn
,
YouTube
, and
Instagram
(collectively, the “Accounts”), the links of which are links to external third-party websites, as well as sign up for the Company’s newsletters at
investors.worksport.com
.
Social Media Disclaimer
The Company does not endorse, ensure the accuracy of, or accept any responsibility for any content on these third-party websites other than content published by the Company. Investors and others should note that the Company announces material financial information to our investors using our investor relations website, press releases, Securities and Exchange Commission (SEC”) filings, and public conference calls and webcasts. The Company also uses social media to announce Company news and other information. The Company encourages investors, the media, and others to review the information the Company publishes on social media. The Company does not selectively disclose material non-public information on social media. If there is any significant financial information, the Company will release it broadly to the public through a press release or SEC filing prior to publishing it on social media.
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,” “scheduled,” “expect,” “future,” “intend,” “plan,” “project,” “envisioned,” “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 situation 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 latest 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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