Benzinga | Aug 31, 2021 02:58PM EDT

Worksport Forms Wholly-Owned Subsidiary Terravis Energy

* Worksport Ltd (NASDAQ:WKSP) has announced the formation of a wholly-owned subsidiary, Terravis Energy Inc.

* The move is in line with the company's aim to expand its energy creation and storage markets.

* Terravis Energy will focus on harnessing and advancing renewable, green energy-based technologies.

* Worksport CEO Steven Rossi's father, Lorenzo Rossi, a company director, is appointed as the President and CEO of Terravis.

* Price Action: WKSP shares are trading higher by 1.53% at $5.15 on the last check Tuesday.