West Seneca, New York, January 30, 2024 — Worksport Ltd. (Nasdaq:WKSP; WKSPW) (“Worksport”) and its subsidiary, Terravis Energy, Inc. (“Terravis” or the “Company”) are pleased to announce that Terravis has begun to consider partners in a supply chain for the Cold Climate, Air Source Residential Heat Pump (CCHP). Terravis CEO Lorenzo H. Rossi recently returned from Chicago’s 2024 AHR Expo, which attracted more than 50,000 attendees and more than 1,600 exhibits, featuring such leading industry suppliers as Bosch Ltd, Honeywell International, Hitachi Heating and Cooling, and LG Electronics. The annual Expo showcases the latest advancements and technologies in heating, ventilation, air conditioning, and refrigeration. The event is a crucial hub for networking, learning, and business development within the industry. Lorenzo Rossi attended the AHR Expo with a strategic objective – meeting suppliers and instituting a commercial supply chain for the revolutionary CCHP.
“We have reached a tipping point in the development of the Terravis Heat Pump, as it has gone through some ultra-demanding tests in our Toronto R&D facility’s cutting-edge ‘Arctic Chamber’ and is now undergoing extra tests. It was a great experience to be at the AHR Expo alongside leading companies like Bosch Ltd, Honeywell International, Hitachi Heating and Cooling, and LG Electronics.” Lorenzo Rossi continued. “The next step is finding the best suppliers who share our vision for this technologically advanced, zero emission product. We are very encouraged by high level of technology of the suppliers at the Expo. They came from all over the world, and Terravis Energy forged vital industry connections and discovered how these potential partners can help move forward the development of this very promising product.”
The forthcoming Terravis heat pump, is anticipated to redefine the boundaries of heating technology without the use of supplemental heat coils. It not only is expected to withstand the harshest North American winters, but also is anticipated to thrive in them, effortlessly maintaining a warm and inviting indoor atmosphere, regardless of how icy it may be outside. Its innovative design and advanced zero emission technology is expected to ensure comfort and reliability no matter how severe the weather could become.
“The Company anticipates announcing in the near future its final decision on a name for the product, as we perfect and finalize its design,” Lorenzo Rossi said. “Early test results have surpassed our expectations, prompting the Company to begin contacting potential suppliers With a range of companies present at the event, from Bosch Ltd and Honeywell International to Hitachi and LG Electronics, Terravis will closely review which suppliers best align with their objectives.”
“The Terravis Heat Pump is a very exciting product that is anticipated to not only provide comfort to millions around the globe but also contribute to reducing the carbon footprint caused by fossil-fuel heating, one of the largest contributors to carbon emissions worldwide, the presence of companies such as Bosch Ltd, Honeywell International, Hitachi Heating and Cooling, and LG Electronics at the AHR Expo demonstrates that this is a significant movement in the industry.” said Worksport CEO Steven Rossi. “It is an example of Worksport’s across-the-board commitment to a zero emission future with high technology products that enhance people’s lives – whether it’s a heat pump in a cold climate or the SOLIS solar tonneau cover and its companion COR portable battery system. The future is in zero emission products that help reduce our carbon footprint, and Worksport intends to be at the forefront of this worldwide transformation.”
As always, Worksport and Terravis will continue to update investors and shareholders as we refine the heat pump’s eventual product name, what it looks like, how it will work and when it will be launched. In addition, we will report milestones on the product testing process and news as the heat pump and other products, like the SOLIS solar truck cover and COR battery system, progress to production models. As always, Worksport will continue to update investors and shareholders on our progress with all products as soon as information is available.
My comments and implied views are provided for entertainment purposes. I am not a certified financial advisor, and I am not qualified to give financial advice. Please do your own due diligence and make your own decisions.
