Alternet Systems Targets Shuttered Electric Car Plant Acquisition In Anticipation Of Internal Combustion Engine Price Parity
February 14 2019 - 12:45PM
InvestorsHub NewsWire
Dallas, TX -- February 14, 2019 --
InvestorsHub NewsWire -- Alternet Systems, Inc.
(USOTC:
ALYI) (“ALYI”) today announced targeting the acquisition of a
shuttered start-up electric car manufacturing facility. ALYI
is developing its own electric energy storage technology and
simultaneously developing its own electric vehicle production
capacity. The company recently announced $1.5 million in
orders for its electric motorcycle. With a recent Bloomberg report forecasting electric and internal
combustion engine price parity by 2024, ALYI is positioning to
expand into electric cars. The share price of Electra
Meccanica Vehicles Corp. (NASDAQ: SOLO) has
recently exploded in reaction to reports that the cost of electric
vehicles will soon be the same as internal combustion
engines. “We believe the production facility we are looking
at was slightly ahead of its time and couldn’t establish critical
mass in time to achieve sustainability,” said Ed Bollen, President
of ALYI’s operating subsidiary. “We also think our unique
manufacturing approach combined with our own energy storage
technology developments will enable us to make the targeted plant a
success.”
ALYI is focused
on offering varied, environmentally sustainable, energy storage
solutions for targeted markets, including consumer electric
vehicles and military applications. The first product category is
lithium battery-powered motorcycles, to be followed by motorbikes.
ALYI also recently brought Clarkson University Professor David
Mitlin on board to lead a hemp energy storage initiative.
Mitlin has successfully used hemp bast - the fiber left over from
processing hemp - to construct carbon nanosheets that compete with,
and in some respects, outperform the supercapacitor performance
derived from more typical graphene nanosheets. Mitlin holds a
US patent for his proprietary hemp energy storage
technology.
Research Report
Speculative Buy Rating And $0.09 Target
PPS
Goldman Small Cap Research recently issued an updated
research report on the Company. The report includes a
'speculative-buy' rating with a target price-per-share
of $0.09. The report provides an in-depth overview and
analysis of Alternet's new strategy, new orders, and upcoming
milestones. To view the report, along with disclosures and
disclaimers, visit https://www.alternetsystemsinc.com/research-rpt/ or http://www.GoldmanResearch.com.
Disclaimer/Safe Harbor: This news release contains
forward-looking statements within the meaning of the Securities
Litigation Reform Act. The statements reflect the Company's current
views with respect to future events that involve risks and
uncertainties. Among others, these risks include the expectation
that any of the companies mentioned herein will achieve significant
sales, the failure to meet schedule or performance requirements of
the companies' contracts, the companies' liquidity position, the
companies' ability to obtain new contracts, the emergence of
competitors with greater financial resources and the impact of
competitive pricing. In the light of these uncertainties, the
forward-looking events referred to in this release might not
occur.
For more information, please
visit: http://www.alternetsystemsinc.com
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
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