Worksport obtains new US patent for innovative solar truck cover

Worksport Ltd.  (NASDAQ: WKSP), a leading US-based manufacturer and innovator of hybrid and clean energy solutions for the light-duty truck industry,

West Seneca, New York, May 30, 2024 – Worksport Ltd. (NASDAQ: WKSP), a leading US-based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overland transportation and global consumer goods industries, announces that it has been issued a new utility patent from the United States Patent & Trademark Office related to the long-awaited SOLIS Solar Tonneau Cover.

This innovative product will transform the automotive accessories market by combining advanced solar technology with the practicality of a truck bed, making it a game-changing asset for truck owners and overlanding enthusiasts. Worksport’s SOLIS cover will be made compatible with most major brands, including the Ford F-Series, Chevrolet Silverado and Ram pickup trucks – the three best-selling vehicles in the US. With approximately 7 million truck bed covers sold per year (~21,000 per day), the SOLIS cover is poised to become the premier solar integrated option on the market, secured by strong intellectual property rights. This uniquely positions Worksport to tap into a multi-billion dollar market segment with exclusivity in its innovation.

Worksport’s SOLIS coverage will be compatible with internal combustion engine vehicles when paired with the Worksport COR portable energy storage system. It will also focus on OEM integration for future EV pickups. Worksport has signed an agreement with Hyundai.

A key element for massive domestic commercialization, this new patent covers the unique design and functionality of the SOLIS Solar Tonneau Cover, which integrates solar panels onto the top surface of multiple parts of the cover. This innovative design ensures that the solar panels on each section are electrically connected, improving the efficiency and energy capture capabilities of the system. The SOLIS cover can be used with or without side rails, giving users versatility and ease of installation.

“We are very pleased to have been granted this new patent for our SOLIS Solar Tonneau Cover, which will be released this summer,” said Steven Rossi, CEO of Worksport Ltd. “The SOLIS cover is not just a product; it represents a significant leap forward in the integration of renewable energy into everyday car accessories. We believe it will set a new standard in the market and provide tremendous value to our customers. When combined with Worksport’s portable COR power system, it is a perfect nano grid system not only for electric vehicles, but also for parks, recreation, utilities and on the construction site.”

Expansion of Worksport’s intellectual property portfolio

This latest patent is a testament to Worksport’s commitment to protecting its innovations and maintaining a competitive advantage in the marketplace. Worksport’s robust intellectual property portfolio now boasts more than 160 patents, trademarks and applications, securing its position as an emerging leader in the automotive accessories and renewable energy markets.

Worksport’s IP strategy focuses on a combination of patents, trademarks, copyrights and trade secrets, protected by confidentiality agreements. This comprehensive approach guarantees the exclusivity of the technology, protects the strategic direction and opens up potential licensing opportunities.

“Our intellectual property is a critical asset that supports our growth and innovation,” said Rossi. “We aim to continuously expand our IP portfolio to cover our current and future products. This includes our SOLIS solar-integrated tonneau covers, COR battery systems and extreme climate heat pumps.. Protecting our innovation ensures Worksport remains at the forefront of technological advancements in our industry. With our large and growing global patent portfolio, we have strengthened our path to commercialization, while at the same time committed to protecting our IP rights.”

The company is excited to present the inaugural Alpha launch of the COR and SOLIS duo on the market— planned for this summer. It will be available to select influencers, companies and individuals. Worksport expects to provide further product development updates in the coming weeks and is rapidly expanding sales of existing product lines.

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