Skip to main content

Market Overview

This Company Could Lead the Next Innovation in Power

Share:
This Company Could Lead the Next Innovation in Power

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Image Source: Worksport

The wait is almost over. After months of teasing, Worksport’s (NASDAQ: WKSP) solar and battery technology, Terravis COR™ preorder site is imminent.

The unique battery storage technology is coming at a time when the need for portable energy is highly pertinent with the potential of portable batteries in pickup trucks coming to light in the lethal winter storm in Texas that left millions without electricity and heat.

Texans who own the Ford F-150 PowerBoost hybrid used the truck’s generator to power their homes. The pickup truck was lifesaving in areas notorious for unpredictable hurricanes and power outages, leaving everyone wondering: Could battery technology be the next big thing for portable power?

Need of the Hour Technology

There is rising awareness among consumers toward emergency power backup and smart technological upgrades as the global generator set market revenue is expected to cross $40 billion by 2030.

Furthermore, the adoption of smart city projects by varying emerging economies and governmental support complements the overall business landscape.

Multiple other major global players such as GM (NYSE: GM), Ford (NYSE: F), Tesla (NASDAQ: TSLA), Nio (NYSE: NIO), Plug Power (NASDAQ: PLUG), Enphase Energy (NASDAQ: ENPH), SunPower (NASDAQ: SPWR), Fuel Cell Energy (NASDAQ: FCEL), and EOS Energy (NASDAQ: EOSE) are competing to offer the best energy storage solutions.

Worksport’s Terravis COR™ stands to profit from the booming overlanding and off-grid market with features that are unlike anything seen on the portable battery market when it takes pre-orders soon.

TerraVis COR™ is projected to power most home systems for up to 48 hours. The batteries will power almost anything with its built-in 2,000-watt power inverter, which could be extremely useful at a job site, campsite or in the event of a natural disaster or power outage.

It’s the first modular battery system, which means you can buy as much “power” (batteries) from Worksport as you need. The system is truly portable and will allow the same freedom from the power grid — being chargeable by any wall outlet, solar panel or 12V power source.

What’s more exciting for Worksport is the possibility of listing its portable battery product on the Amazon (NASDAQ: AMZN) marketplace as sales in this product category are on the rise.

Two New Major OEM Partners

Earlier, Worksport established 2 original equipment manufacturer (OEM) partnerships within the EV space to complete the manufacturing — Hercules Electric Mobility and Arizona-based Atlis Motor Vehicles.

With these partnerships, Worksport will offer its modern truck bed covers as original equipment with their EV pickup trucks.

Recently, Worksport announced that it is in discussions with 2 other major OEM partners for its TerraVis system.

Although the company has not revealed any names, it has hinted that one is a top-ranking global brand in the U.S. market and the other is an EV startup that recently raised funds to the tune of $1 billion.

Possible Upside Potential to Early Investors?

Worksport is not your ordinary truck accessory manufacturer. The company has come a long way in less than two years to become a market disruptor in the clean energy industry.

With multiple verticals within the power generation market, Worksport poses a unique proposition and could be considered to be undervalued in the long term if it succeeds in what it is attempting to do.

Although it remains to be seen how the company’s innovative products play out in the time to come, there is no doubt that it has the potential to bring immense value to the industry.

To learn more about Worksport, visit its website here

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content that follows is for informational purposes only and not intended to be investing advice.

 

Related Articles (AMZN + ENPH)

View Comments and Join the Discussion!

Posted-In: Partner ContentNews Commodities Movers & Shakers Small Cap Markets Tech General

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com