Worksport Ltd. (WKSP) is making a significant move into the U.S. government market. The company announced on Thursday that it has secured a deal to supply its flagship Made-in-USA AL3 Tonneau Covers to a major federal agency. This marks a strategic expansion for Worksport, targeting a vast potential market.
With an estimated 2 million pickup trucks in government and state-owned fleets nationwide, Worksport sees a considerable opportunity to grow its business. The company plans to leverage this initial partnership to expand its reach within the government fleet sector, which includes agencies like the Departments of Natural Resources, Agriculture, and Transportation, as well as Federal, State, and Local Law Enforcement Agencies.
Worksport is not only focused on selling its current tonneau cover products to government agencies. The company also plans to introduce its upcoming clean-tech nano-grid products, including the SOLIS Solar Tonneau Cover and the COR Portable Energy System, to these newly established relationships. These innovative solutions offer potential for increased sustainability and energy efficiency in government fleets.
To lead this strategic initiative, Worksport has appointed Ambassador Ned Siegel (Ret.), a key member of the company’s Board of Directors and former U.S. Ambassador, to spearhead government sales efforts. Ambassador Siegel will leverage his extensive network to build strong relationships with federal and state agencies.
CEO Steven Rossi expressed his confidence in the growth potential of this expansion. “We expect these relationships to grow, becoming a recurrent source of revenue as we expand our offerings and reach,” said Rossi. He highlighted the company’s focus on sustainability and energy efficiency, stating, “Our focus on government fleets isn’t just about selling our current products… with the upcoming launch of our clean-tech solutions, we see significant growth potential as government fleets increasingly move toward sustainability and energy efficiency.”
This news has been positively received by investors, with WKSP stock closing higher by 3.35% to $0.4167 on Wednesday. Worksport’s foray into the government fleet sector is a significant step towards solidifying its position as a leading player in the automotive aftermarket and clean energy solutions market. The company’s commitment to sustainability and its innovative product offerings are likely to attract further interest from government agencies looking to modernize their fleets.
