WKSP Worksport Ltd

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 11, 2025

 

WORKSPORT LTD.

(Exact name of registrant as specified in its charter)

 

Nevada		001-40681		35-2696895
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

2500 N America Dr

West Seneca, New York 14224

(Address of principal executive offices) (ZIP Code)

 

(888) 554-8789

Registrant’s telephone number, including area code

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbols		Name of each exchange on which registered
Common		WKSP		The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b -2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 7.01 Regulation FD Disclosure.

 

On February 11, 2025, Worksport Ltd. (the “Company”) issued a press release: “Worksport Subsidiary Terravis Energy Unveils Revolutionary Heat Pump, Eliminating Defrost Cycles & Shattering Performance Standards; AetherLux™”. A copy of the press release is attached hereto as Exhibit 99.1.

 

The information under Item 7.01 of this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, or incorporated by reference into any of the Company’s filings under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.		Description
99.1		Press Release dated February 11, 2025, “Worksport Subsidiary Terravis Energy Unveils Revolutionary Heat Pump, Eliminating Defrost Cycles & Shattering Performance Standards; AetherLux™”
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	WORKSPORT LTD.
Date: February 11, 2025	By:	/s/ Steven Rossi
	Name:	Steven Rossi
	Title:	Chief Executive Officer (Principal Executive Officer)

 

 

 

 

Exhibit 99.1

 

Worksport Subsidiary Terravis Energy Unveils Revolutionary Heat Pump, Eliminating Defrost Cycles & Shattering Performance Standards; AetherLux™

 

Groundbreaking System Successfully Operates From -57°F to 131°F, Eliminates Defrost Cycles, and Paves the Way for a New Era in Clean-Energy Efficiency

 

West Seneca, New York, February 11, 2025 — 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 announced that its wholly owned subsidiary, Terravis Energy, a Colorado corporation (“TVE”), has achieved a major industry milestone with the unveiling of the revolutionary AetherLux™ heat pump system.

 

Heat pumps are an answer to inefficient and outdated heating sources. The AetherLux product line has achieved a significant technological advancement on existing heat pumps. Set to feature three high performing models, the Pro Model debuts TVE’s proprietary ZeroFrost™ technology, eliminating the need of Defrost Cycles, preventing a commonly known heat pump drawback, freezing. Tested to successfully work at temperatures as low as -57°F and as high as +131°F, AetherLux is expected to redefine performance standards in a global heat pump market projected to exceed $148 billion by 2030, growing at 9.4% CAGR.

 

TVE’s ZeroFrost Technology: A Leap Beyond Defrost Cycles

 

AetherLux leverages ZeroFrost, an innovative TVE technology that eliminates the need for energy-draining defrost cycles. By preventing ice buildup, the system avoids thermal stress and minimizes wear on components—critical issues plaguing conventional heat pumps. This breakthrough extends the product’s operational lifespan and sustains efficient heating and cooling in extreme environments. Worksport believes the strength of this innovation redefines the HVAC market, and the ability to target billions of customers, world-wide. Worksport shares the global reveal below, along with more details.

 

	●	Defrost-Free Design: No auxiliary heating system is necessary, reducing costs and energy consumption.
	·	Extreme Temperatures: The TVE heat pump has been tested to work in temperatures believed to be unmatched by competitors, from -57°F to +131°F. The AetherLux Pro variant is expected to deliver robust home heating and cooling comfort, year-round. The targeted operating range is -50°F to +131°F, subject to real-world-conditions.
	●	High Efficiency: The TVE heat pump has an estimated COP of 3.0 to 3.5 at -57°F and an HSPF of 11.0 to 12.5, substantially cutting energy usage.
	●	AI-Driven Optimization: Intelligent software adapts operations in real time, ensuring peak efficiency under changing conditions.
	●	R32 Refrigerant: The TVE heat pump utilized a refrigerant that is compliant with the 2025 Clean Air Act regulations, aligning with evolving environmental standards. Heat pumps reduce the risk of Carbon Monoxide Poisoning.

 

 

“The AetherLux system has tested as the world’s first heat pump that does not freeze, even in extreme cold. There is no competition at -50°F,” said Lorenzo Rossi, CEO of Terravis Energy. “Currently, heat pumps can be extremely inefficient during cold weather, having to rely on supplementary heat sources during defrost cycles. Our innovation solves this drawback of current heat pump technology by eliminating the need altogether. Given the redesigned configuration and eco-compliant technology, we believe it will excel in both extreme and moderate climates, delivering a solution that should increase the speed of heat pump adoption, reduce climate impact, and save customers money on their energy bill.”

 

Global Reveal and Product Information:

 

Terravis Energy expects to offer two affordable variants of the AetherLux system:

	1.	AetherLux (Performance Unit): Engineered for versatility, handling climates from hot to -13°F (-25°C) with optimized efficiency. Available in 18,000 and 36,000 BTU units, preorders, further details and pricing are coming soon.
	2.	AetherLux Pro (Ultra-Performance Unit) – Built for every climate, featuring ZeroFrost™ technology, highly efficient, ensuring uninterrupted heat delivery even in the harshest winter conditions.

 

Investors, corporations, and global heat pump distributors interested in learning more about the AetherLux launch can visit: AetherLux Reveal Website. Reveal video also available, here

 

For inquiries, contact: info@terravis.com ; LinkedIn ; +1 (888) 554-8789 x128

Steven Rossi, CEO of Worksport, parent company to Terravis Energy, remarked: “Terravis’s breakthrough is the result of three years of cutting-edge R&D. We expect significant commercial interest, given the product’s virtually unheard-of performance metrics. Since Worksport shareholders also own Terravis shares, we believe this technology is an underrecognized asset within our Company. As Terravis moves toward commercialization, I’m tremendously excited about the impact on Worksport’s future.”

 

Learn more about Terravis’s Parent Company, Worksport Ltd (NASDAQ: WKSP): https://investors.worksport.com.

 

Stay tuned for more information and join our mailing list to stay up to date with the latest. 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.

 

For more information, please visit investors.worksport.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. 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.

 

Product social media	Investor social media
Instagram	X (formerly Twitter)
Facebook YouTube	LinkedIn Link to Newsletter

 

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.

 

For additional information, please contact:

 

Investor Relations, Worksport Ltd. T: 1 (888) 554-8789 -128 W: investors.worksport.com W: www.worksport.com E: investors@worksport.com

 

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 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 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.

 

 

v3.25.0.1

Cover	Feb. 11, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 11, 2025
Entity File Number	001-40681
Entity Registrant Name	WORKSPORT LTD.
Entity Central Index Key	0001096275
Entity Tax Identification Number	35-2696895
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	2500 N America Dr
Entity Address, City or Town	West Seneca
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14224
City Area Code	(888)
Local Phone Number	554-8789
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common
Trading Symbol	WKSP
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

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