West Seneca, New York, United States, July 11, 2023 (GLOBE NEWSWIRE) — Worksport Ltd. (NASDAQ: WKSP; WKSPW) today announces the Company’s significant progress in its operational developments, in particular, the initiation of final training and validation processes for their new U.S. manufacturing line of hard-folding tonneau covers.
Over the next several weeks, a wave of operational readiness is expected to take place, marking a pivotal moment in the Company’s growth journey, as commencement of production of its cutting-edge hard folding tonneau covers comes to fruition.
In preparation for this exciting phase, Worksport has diligently attended to their talent pipeline, recently hosting several successful job fairs. These events have resulted in the onboarding of skilled personnel, who are currently undergoing training to align with the Company’s commitment to quality and excellence.
Under the leadership of CEO Steven Rossi, Worksport is enthusiastically gearing up to transition from preparation phase to production phase at its fully owned 220,000 sq. ft. manufacturing facility located in West Seneca, New York. The state-of-the-art facility symbolizes Worksport’s commitment to home-grown innovation and product excellence.
“Transitioning from the preparatory phase to the actual scaling of production represents a momentous milestone for Worksport. Our focus now is on accelerating production capabilities and driving revenue growth,” said Rossi. “We’re thrilled about this transition and the immense opportunities it holds for the Company, our investors, and our loyal customers.”
Moving forward, the Company believes that this development substantiates Worksport’s strong trajectory towards industrial growth and market leadership. By focusing on scaling up production, the Company believes it is setting the stage for a strategic leap in its business operations, with a clear aim of boosting revenue growth and enhancing shareholder value.
This news comes as an affirmation of Worksport’s unwavering commitment to providing innovative, high-quality products to the automotive market, further solidifying their position in the industry.
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 investors.worksport.com
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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,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Forward-looking 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: supply chain delays, acceptance of our products by consumers, delays in or nonacceptance by third parties to sell our products, competition from other producers of similar products, out inability to launch our new manufacturing line of tonneau covers as planned, or at all. 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 Securities and Exchange Commission (SEC), including 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.
Source Globe Newswire