Worksport Subsidiary Terravis Energy Announces Two Major Heat Pump Breakthroughs, Begins 20-Day Countdown
Solving Two Key Market Challenges; Successful R&D Has Achieved a Solution Expected to Revolutionize Home Heating & Cooling, While Being Affordable and Highly Efficient.
West Seneca, New York, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Worksport Ltd. (NASDAQ:WKSP) ("Worksport" or the "Company"), a U.S. based manufacturer and innovator of hybrid and clean energy solutions for the light truck, overlanding, and global consumer goods sectors, proudly announces that its subsidiary, Terravis Energy [LLC] ("TVE"), a [Delaware] [limited liability company], has developed a groundbreaking heat pump solution that it believes fulfills the future of home heating and cooling. This latest R&D breakthrough is projected to solve two key issues in the heat pump market.
The proprietary solution combats changing climates, power affordability, and current technology limitations. Based on early closed-loop feedback, the Company expects major industry actors to take serious notice of this technology upon reveal. Through a breakthrough solution, the Terravis Energy heat pump technology is expected to redefine performance in all climate conditions, while being highly efficient. The technology has been further enhanced with AI-powered adaptability, designed to tailor the system to each individual user's comfort level, creating an environment that feels uniquely responsive and attuned to their needs.
20-Day Countdown to the Global Reveal
Terravis Energy is launching a 20-day countdown on its website, aetherlux.terravisenergy.com, leading to the worldwide unveiling of this transformative technology. On February 11, 2025, the countdown will conclude and Terravis will share the breakthrough solution, key performance data, media kits, and exclusive insights into the competitive advantages of its cutting-edge solution.
The Company invites journalists and media to contact them ahead of the upcoming global reveal. Contact: [email protected]
Revolutionizing the Heat Pump Industry
Terravis Energy's heat pump is a revolutionary design engineered to address critical challenges that have long hindered heat pump adoption, particularly in extreme climates. With this innovation, the future of home comfort is here:
- Extreme Weather Resilience: This next-generation heat pump is engineered to perform seamlessly in ultra-cold and high-temperature environments, ensuring consistent comfort in any weather.
- AI-Driven Personalization: The system incorporates artificial intelligence to provide personalized feedback, dynamically adjusting its operation to deliver optimal comfort and energy efficiency.
- Affordability and Efficiency: Terravis Energy's breakthrough is expected to lower cost barriers while providing unparalleled performance.
- Unmatched Innovation: Designed to set a new industry benchmark, this technology resolves longstanding issues with conventional heat pumps, delivering unprecedented reliability and adaptability.
The Heat Pump Market at a Crossroads
The global heat pump market is experiencing rapid growth, bolstered by rising energy efficiency demands and government subsidies:
- Based on a consistent compound annual growth rate (CAGR) of 9.4%, the Total Addressable Market (TAM) for North America from 2022 to 2031 is projected to be approximately USD 290 billion. For regions outside the U.S. and Canada, the TAM is estimated at around USD 910 billion over the same period.
- Heat Pumps are Heavily Subsidized: Governments worldwide aim to accelerate adoption, including the U.S. High-Efficiency Electric Home Rebate Act offering up to $8,000 for heat pump installations and Canadian Government's incentive of up to $10,000 for heat pump installations
Despite this growth, traditional heat pumps face significant challenges in extreme temperatures, killing efficiency, thereby limiting their adoption in key markets. Terravis Energy's groundbreaking technology directly addresses these limitations, paving the way for widespread use in even the harshest climates.
The Future of Home Comfort Is Here
This isn't just a heat pump—it is an ingenious system that integrates seamlessly into modern homes, offering a responsive comfort experience powered by AI technology. By adapting to user preferences and environmental conditions, Terravis Energy's heat pump provides a personalized and resilient climate solution that is unmatched in the market.
For more information and to join the countdown to the reveal, visit aetherlux.terravisenergy.com.
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About Worksport
Worksport Ltd. (NASDAQ:WKSP), through its subsidiaries, designs, develops, manufactures, and owns the intellectual property on a variety of tonneau covers, solar integrations, portable power systems, and clean heating & cooling solutions. Worksport has an active partnership with Hyundai for the SOLIS Solar cover. Additionally, Worksport's hard-folding cover, designed and manufactured in-house, is compatible with all major truck models and is gaining traction with newer truck makers including the EV sector. Worksport seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and Cold-Climate Heat Pump (CCHP) technology. Terravis Energy's website is terravisenergy.com.
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