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Today's Video:

https://octopusmoneymultipliers.com/2020/10/20/wksp-worksport-electric-truck-hercules-cover/

Worksport™ Announces Supply Partnership with Hercules Electric Mobility for its TerraVis™ Solar Truck Bed Tonneau System
Published
Oct 19, 2020 8:30AM EDT

TORONTO, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Worksport Ltd,, (OTC:WKSP) (or the “Company”) has signed an agreement with Hercules Electric Mobility Inc., Detroit, Michigan, for Worksport’s groundbreaking TerraVis™ tonneau cover solar charging system to become the Tier One OEM supply partner for Hercules’ forthcoming Alpha Electric Pickup, with over US $27 million in early customer reservations .
Worksport Ltd,
TerraVis Solar Truck Bed Tonneau System
Worksport Ltd,
TerraVis Solar Truck Bed Tonneau System

The announcement today reveals Hercules as Worksport’s partner in an agreement between the two companies that is expected to generate up to US$70 million in future revenues for Worksport™. A Sept. 3 news release and a subsequent follow up story on Sept. 15 had said that ‘the terms of the agreement are expected to be disclosed in mid-September.’ However, since then, causing a delay in the announcement, the two companies have broadened their discussions, relating to additional deployments for the TerraVis system, merging and up-listing on a senior exchange, and manufacturing collaboration.

“Although we understand the delay of over one month is challenging in today’s volatile market, we appreciate shareholders patience in allowing us to arrive at today’s milestone,” said Worksport CEO Steven Rossi. “We will continue to work tirelessly in progressing our business and keeping our valued shareholders up to date.”

“The economic value of this one relationship is expected to be of profound significance for Worksport and its future growth and development,” added Rossi. “The announced $70 million in projected revenues in the first contract is just the beginning, and it is likely to expand over the longer-term. We’re proud to work with Hercules because of its management’s long history with developing and launching major vehicle platforms.”

The TerraVis™ system will be exclusively configured and uniquely crafted for Hercules’ highly innovative EV pickup Truck, the Alpha. The durable and technologically advanced TerraVis™ system will be the very first to provide a meaningful source of recharge, multiple configurations for work and sport and a fusion of cutting edge solar power, storage, and delivery. The platform takes advantage of a standard pick-up truck’s practical capabilities, while also utilizing the power of more sustainable and renewable energy. Proprietary, high efficiency solar panels built into the rugged tonneau cover—the likes of which Worksport has become widely known for—will collect the sun's rays and store energy in multiple portable battery banks.

The anticipated Hercules and Worksport long-term partnership, a pioneering automotive industry agreement, combines factory installed solar charging and structural tonneau covers with a new type of performance electric pickup truck. The companies will co-develop TerraVis™ technology on the Hercules Alpha with deployment on future SUVs and marine applications. Hercules is developing and deploying high-technology solutions integrating clean power and mobility, to create better products in a multitude of customer-selected configurations. Worksport is working towards a similar goal to reduce pickup drivers’ carbon footprint through use of its TerraVis™ solar tonneau cover and battery/inverter module for existing light trucks, as well as a number of useful accessories. Hercules and Worksport look forward to jointly launching the Hercules Alpha solar charging.

“We are pleased to be working with the team at Worksport to bring solar charging to our Hercules products,” said Hercules CEO James Breyer, who co-founded the company in 201

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