ALYI Announces LOI On African Electric Motorcycle Assembly Plant To Include $20 Million Order
April 12 2019 - 9:00AM
InvestorsHub NewsWire
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.
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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