ALYI Announces LOI On African Electric Motorcycle Assembly Plant To Include $20 Million Order
DALLAS,TX -- April 12, 2019 -- InvestorsHub NewsWire -- Alternet Systems, Inc. (ALYI) (“ALYI”) management has been in Kenya this week meeting potential partners and touring facilities with the intention of opening an assembly plant to complete manufacturing in Africa for ReVolt Electric Motorcycles to be sold across the African continent. Management is pleased to announce the visit to Kenya has resulted in the execution of a Letter of Intent (LOI) to move forward with the assembly plant. The LOI includes a planned initial $20 million order of 2,000 ReVolt Electric Motorcycles. The $20 million order would add to a previously announced $1.5 million in confirmed orders for its ReVolt Electric Motorcycles to be delivered in Kenya.
All of the ReVolt Electric Motorcycles targeted for delivery in Kenya are intended to be delivered into the shared ride services market. Motorcycle Taxis or “boda boda” taxis are already popular in Africa with much room for safety and efficiency improvements that the ReVolt Electric Motorycle can deliver. Uber, among other shared ride service providers are already popular in Kenya. The shared ride market globally is forecasted to reach $218 billion by 2025.
ALYI also signed a second LOI this week in Kenya separate from the assembly plant LOI, but very much a significant potential feather ALYI’s Electric Vehicle hat. The second LOI agreement leads to a potential contract where ALYI secures a leadership role in a global electric vehicle institution that is expected to contribute substantially to the ongoing advance of electric vehicle technology worldwide.
Look for more information and developments on the two LOI’s announced today coming soon.
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 has an ongoing hemp energy storage initiative leading its current efforts to introduce an alternative to lithium batteries.
Research Report Speculative Buy Rating And $0.09 Target PPS
Goldman Small Cap Research has recently issued a research report update on the Company. The report confirms 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-update 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.
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