Worksport Ltd - WKSP STOCK NEWS

Worksport (NASDAQ: WKSP) announced that its subsidiary, Terravis Energy, has unveiled the revolutionary AetherLux™ heat pump system. The system features proprietary ZeroFrost™ technology that eliminates the need for defrost cycles, a common drawback in conventional heat pumps.

The system operates effectively from -57°F to 131°F, setting new industry standards in a market projected to reach $148 billion by 2030. The AetherLux product line will include three models, with the Pro Model featuring the ZeroFrost technology. Key features include high efficiency with an estimated COP of 3.0-3.5 at -57°F, AI-driven optimization, and R32 refrigerant compliance with 2025 Clean Air Act regulations.

Two variants will be available: the Performance Unit (operating to -13°F) in 18,000 and 36,000 BTU units, and the Pro Unit featuring ZeroFrost technology for extreme conditions.

Worksport (NASDAQ: WKSP) subsidiary Terravis Energy has unveiled the revolutionary AetherLux™ heat pump system, featuring proprietary ZeroFrost™ technology that eliminates defrost cycles, a common drawback in traditional heat pumps. The system operates effectively from -57°F to 131°F, setting new performance standards in the heat pump market.

The product line includes two variants: the standard AetherLux Performance Unit (operating from -13°F to hot temperatures) and the AetherLux Pro with ZeroFrost technology. Key features include defrost-free design, high efficiency with COP of 3.0-3.5 at -57°F, HSPF of 11.0-12.5, AI-driven optimization, and R32 refrigerant compliance with 2025 Clean Air Act regulations.

The innovation targets a global heat pump market projected to exceed $148 billion by 2030, growing at 9.4% CAGR. The system will be available in 18,000 and 36,000 BTU units, with pricing and preorder details forthcoming.

Opthea (ASX/NASDAQ:OPT), a clinical-stage biopharmaceutical company focused on developing novel therapies for retinal diseases including wet age-related macular degeneration (wet AMD), has announced its participation in Oppenheimer's 35th Annual Healthcare Life Sciences Conference.

The company's Chief Executive Officer, Frederic Guerard, PharmD, will deliver a presentation on Tuesday, February 11, 2025, at 10:00 AM ET and will be available for one-on-one meetings during the conference, which runs from February 11-12, 2025. The presentation will be accessible via webcast and will also be available on the company's investor relations website.

Chipotle Mexican Grill (CMG) reported strong fourth quarter and full year 2024 results. Q4 total revenue increased 13.1% to $2.8 billion, with comparable restaurant sales up 5.4%, driven by 4.0% transaction growth. Operating margin improved to 14.6% from 14.4% year-over-year.

For full year 2024, total revenue grew 14.6% to $11.3 billion, with comparable sales increasing 7.4%. The company opened 304 new company-owned restaurants, including 257 with Chipotlanes, bringing the total restaurant count to 3,726. Digital sales represented 35.1% of total food and beverage revenue.

The company repurchased $995.8 million of stock in 2024 at an average price of $57.21 per share. For 2025, management anticipates low to mid-single digit comparable restaurant sales growth and plans to open 315-345 new company-owned restaurants.

Worksport (NASDAQ: WKSP) has initiated shipments of its flagship AL4 tonneau cover to select customers, receiving highly positive initial feedback. The company plans to ramp up production to 1,200 units in the next 30 days, with expectations to double output shortly after while maintaining existing AL3 production.

The AL4 Hardcover, engineered with American aluminum, represents an evolution in the company's premium tonneau cover lineup. Major distributors have shown strong interest and praised its build quality, ease of use, and features.

Looking ahead, Worksport plans to expand AL4 availability to e-commerce customers and maintains its schedule for releasing the SOLIS solar tonneau cover and COR mobile power system later in 2025. Additionally, the company's subsidiary, Terravis Energy, has announced an AI-supported heat pump technology breakthrough, with a full reveal expected in eight days.

Worksport (NASDAQ: WKSP) has initiated its cryptocurrency treasury strategy with a six-figure purchase of Bitcoin (BTC) and Ripple (XRP). This move follows the company's December 2024 announcement to invest excess cash reserves in cryptocurrencies. The strategy aims to hedge against inflation and capitalize on the growing cryptocurrency market.

The company plans to integrate cryptocurrency payment options on Worksport.com to reduce transaction fees and expand payment methods. Worksport reports strong business growth with improving revenues and margins, and projects the release of three new products and approaching cash flow positivity in 2025. The company maintains a long-term view on its crypto holdings and plans to increase its position as excess cash grows.

Worksport (NASDAQ: WKSP) has selected Coinbase as its official cryptocurrency custodian, following the company's December 2024 announcement of its Cryptocurrency Treasury Strategy. The partnership enables Worksport to hold portions of its surplus cash reserves in Bitcoin (BTC) and XRP, leveraging Coinbase's regulatory compliance, security measures, and insurance-backed custody solutions.

This strategic move aligns with Worksport's growth initiatives, including expected multi-fold revenue increase, push toward cash flow positivity, and the planned launch of three new product lines in 2025. The company aims to diversify its financial positioning and strengthen its balance sheet through measured cryptocurrency investments. Coinbase, as the largest U.S. cryptocurrency exchange, will provide institutional-grade custody services to support Worksport's entry into the cryptocurrency space.

Worksport (NASDAQ: WKSP) announced a significant expansion of its patent portfolio, growing approximately 25% in the last 12 months. The company has also joined the LOT Network, a global consortium protecting companies from patent assertion entities (PAEs).

The expanded patent portfolio covers innovations for existing product lines, including the patented SOLIS solar tonneau cover and COR portable power system. Additional proprietary assets are being developed through subsidiary Terravis Energy in Cold-Climate Heat Pumps.

By joining LOT Network, Worksport gains protection against PAE litigation through access to over 4.8 million patents, including nearly 50,000 patent assets in relevant technology fields. The network includes major companies like Tesla, Ford, Amazon, Rivian, Hyundai, and Microsoft, offering mutual protection against patent trolls through automatic licensing agreements.

Worksport's subsidiary Terravis Energy has announced a groundbreaking heat pump technology breakthrough, with the global reveal scheduled for February 11, 2025. The new solution addresses two major market challenges by delivering exceptional performance in extreme weather conditions while maintaining affordability and efficiency.

The system features AI-powered adaptability that personalizes comfort settings for individual users. The innovation comes amid a growing heat pump market, with a projected Total Addressable Market of USD 290 billion in North America and USD 910 billion globally from 2022 to 2031, showing a 9.4% CAGR.

The technology aims to overcome traditional heat pump limitations in extreme temperatures, supported by significant government incentives including up to $8,000 in U.S. rebates and $10,000 in Canadian installations subsidies.