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Interview | Steven Rossi, President and CEO Worksport

Interview with Worksport President and CEO, Steven Rossi.

In light of the current economic climate, rising gas prices, etc., how did Worksport’s Leadership forecast this trend and get ahead of the need for solar technology and renewable energy in both product offerings, as well as in the development of your brand subsidiary, Terravis Energy?

One of my guiding principles is “you don’t have to be the best, but you have to be the first.” I believe that innovation and leadership are essential, and in 2014, we foreshadowed the rise of electric vehicles and a global trend in consumer demand for pickup trucks. We quickly began to look at how we can turn the back of the bed canvas into the Terravis Solar Cover and produce a product that is very functional, very powerful, and very cost effective. We have continued to innovate and to make it even more powerful as more technology develops to provide the ultimate solution for the customers we serve.

We then began to look further into the idea that as people begin to drive more electric vehicles, what would happen when the power goes out? The fact that we are all dependent on one centralized grid. Therefore, that is where Terravis Energy comes in as we focus on clean energy systems for individuals and small communities to solve this problem and offer unique solutions. .

What makes Terravis Energy a game changer in the market?

What separates Terravis Energy (TVE) from other clean energy companies is that it recognizes a problem that most, if not all, ignore. TVE realized long ago that there is more than just a need for clean, renewable energy. With aging and failing grids that governments world-wide are ignoring, TVE sees an opportunity as the ever-growing demand for energy in remote locations, as well as in cities grows rapidly as the world switches from fossil fuels to batteries for vehicles and power storage.

As the switchover takes place, power grids will not be able to handle the influx of demand caused by more and more of the population plugging in their EV’s all at once, causing grid failures or massive spikes in energy costs. TVE designs green, clean energy solutions that are capable of powering homes, businesses and vehicles, off-grid using hydrogen fuel cells.

Developing technology that can provide energy for many uses that doesn’t require a connection to the grid means that areas of the country that do not have the infrastructure to support electric vehicles will soon be able to charge EV’s, giving a large segment of populations access to new, clean technologies without sacrificing the conveniences everyone is accustomed to.Solutions like Terravis Energy’s NPEV (non-parasitic electric vehicle) Fast Charger, Even the most remote locations on the planet will have the ability to charge an EV just as anyone in more populated parts of the country can. As electric vehicles become the normal form of transportation, TVE will continue to develop off-grid solutions using fuel cell technology which will allow for off-grid energy production.

What do you believe is a reasonable timeline for bringing renewable technology to the market on a mass scale and what do you feel is the anticipated adoption rate for the target market?

I think the market is currently very receptive to clean energy and we think that our hydrogen fuel cell technology will be available in the next 12-24 months, so we are talking very short term. We think the broader market will adopt this technology quickly - there is of course no metric for this, but we feel that this will happen very rapidly.

As more and more automobile manufactures align with EV technology so as not to be left behind in the marketplace, what do you believe that Worksport can offer to manufacturers to keep them competitive?

As we said, you don’t have to be the best, you have to be the first, and we were the first to create our solar Tonneau cover. This is just the beginning for us and we have other innovations and power technology for electric vehicles, as well communities through Terravis Energy, our subsidiary forthcoming. On the automotive manufacturing side, our competitive advantage is to be able to passively charge, allowing the pickup truck owner to charge that vehicle. We can provide up to 10 miles per day - the average American driver drives less than 30 miles per day, therefore reducing the reliance on the grid 33% for short distance travel, making one of the only meaningful impacts to eliminating carbon emissions. BEV is worse, but when you can charge that vehicle with Hydrogen technology, now you are making a large impact.

It is estimated that approximately $515 billion will be spent globally by manufacturers in the next 5 to 10 years in EV technology. Do you agree with that estimation and how do you believe that level of development will impact the market?

I do agree with this estimation and I believe the next gold rush is clean technology, and we will be a portion of that $515 billion. We feel that the future is information and green technology and we are going to be very instrumental in combining both in terms of using blockchain tech and systems to power the data between those systems. Although I think when numbers begin that large, it’s hard to be accurate, but I do agree.

Tell me more about your vision for Workport in the next 5 to 10 years.

Our vision for Worksport is to continue to develop with deep automotive roots, but branch off into broader consumer technologies in areas such as lifestyle, enjoyment, camping/work sites, portable clean and green energy. Worksport will gear itself to the individual, Terravis Energy will focus on the community.

Why do you believe someone should invest in Worksport?

On a financial level, we have no long-term debt and we are in a very strong cash position. We are trading at an evaluation that is cash times two. Basically investors at this point are able to invest in a company that has 70 or 80 intellectual property assets and growing with innovations in automotive and cleantech at a valuation which is mostly its own cash value. You are investing today at cash value of the company, and getting all of the underlying assets, which is our innovation and our infrastructure for free. We have a strong forward path and strong management, and we feel there are a lot of milestones to be met and seeds to be sown.

As the saying goes, “from the humble acorn, grew the mighty oak.” We are in the acorn stage now in very rich soil, and from this soil we will grow with Terravis Energy as a subsidiary in cleantech and clean energy, and Workport with consumer facing goods and automotive sector goods that are very meaningful and innovative.

What’s next for Terravis Energy?

If you visit you will see a timeline of what is happening for 2022 at Terravis Energy. We recently launched all of the information about the technology we are planning to release - this includes the above mentioned NPEV and NPEV +H2, the latter of which combines charging EV’s with refueling HFCV’s all in one station allowing for a single station to service multiple zero emission vehicles.

All I can say about what’s to come is that we will continue to innovate our current lineup of solutions while building new relationships to provide the most effective means of providing energy in new and exciting ways.

Vendredi 22 Juillet 2022