NEW YORK, May 27, 2026, 11:07 (EDT)
Worksport Ltd. shares edged higher Wednesday after the pickup-truck accessories and clean-energy products company said its Terravis Energy unit had secured a U.S. patent for a heat-pump system aimed at cutting frost buildup, a day after WKSP fell 15.68%.
The Nasdaq-listed stock was recently at $0.86, up about 1%, after opening at $0.875 and trading between $0.8401 and $0.898. Tuesday’s close was $0.8516, down from $1.01 on May 22, Yahoo Finance data showed.
The timing matters because this is a shortened U.S. trading week. Nasdaq’s 2026 calendar listed Monday, May 25, as a Memorial Day market closure, leaving traders to weigh the patent news against thin microcap liquidity and the company’s still-developing revenue base.
Worksport said Tuesday that Terravis Energy was issued U.S. Patent No. 12,624,872 B2 for its AetherLux heat-pump system incorporating ZeroFrost technology. The patent covers architecture designed to reduce or avoid conventional defrost cycles — brief interruptions used by heat pumps to clear ice from outdoor coils. Lorenzo Rossi, chief executive of Terravis Energy, called the patent an “important milestone” and said the system could make heat pumps “more practical, more dependable.” ACCESS Newswire
The patent gives investors a technology angle beyond Worksport’s main truck-bed-cover business. Still, it is not yet revenue. Certification is expected in the second half of 2026, and the market is likely to want evidence that the technology can move from protection on paper to commercial orders.
Worksport’s core business remains truck gear. It sells tonneau covers — covers for pickup beds — as well as SOLIS solar truck covers and COR portable power products. In that aisle it runs into much larger accessories sellers such as privately held RealTruck, which lists truck bed covers as part of a broad truck, Jeep and Bronco accessories catalog.
The company’s most recent financial update showed why execution is now the issue. Worksport said first-quarter net sales rose 47.9% from a year earlier to $3.31 million, while gross profit more than doubled to $853,946. Gross margin — the share of sales left after direct production costs — improved to 26% from 18%. Hard tonneau covers made up about 99% of quarterly net sales.
But the risk is cash and conversion. On the May 13 earnings call, CEO Steven Rossi said “Q2 26 and the second half are about conversion,” meaning turning inventory into revenue and dealer growth into orders. The same call transcript showed cash and cash equivalents had fallen to $566,000, with about $8.2 million of cash used in operations in the quarter; management also said AetherLux revenue was not projected for 2026. If inventory does not convert quickly, or if certification and distribution slip, WKSP could remain under pressure despite the patent. The Motley Fool
For now, the stock is trading like a small company with a new asset but an old question. Investors have heard the growth story. The next move depends on orders, margins and whether Worksport can slow the cash burn before the patent story needs fresh capital to carry it further.
