ALYI - Alternet Targets $2 Billion Foothold Into $1 Trillion Electric Vehicle Market
14 July 2020 - 11:05PM
ADVFN Crypto NewsWire
Dallas, TX -- July 14, 2020 --
InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC:
ALYI), an innovative electric vehicle company concentrating on
the African market, today published a bulletin outlining in further
detail the company’s recently announced development project to
construct an advanced electric mobility site in Africa covering
approximately 100 acres. The site is a key component of an
overall $300 million initiative designed to expand rapidly beyond
the initial $300 million scope. ALYI has executed a $2.5
million investment deal intended to fund the design and engineering
of the advanced electric mobility site. The $2.5 million is
an advance on a $25 million investment currently committed under a
letter of intent. The bulletin is included below in its
entirety within this release:
Bulletin: Advanced
Electric Mobility Site Supporting $300 Million
Initiative
ALYI in an innovative company dedicated to
electric mobility. The company was founded on developing a
patented portfolio of lithium battery technologies and has evolved
into its current focus on developing complete electric mobility
solutions for the African market.
ALYI CEO, Dr.
Randell Torno, contends that the immediate opportunity for electric
powered transportation growth in Africa by far exceeds the electric
powered transportation opportunity anywhere else in the world and
that the electric mobility technology innovations that will be
developed for Africa will ultimately form the foundation of
commercial electric powered transportation everywhere. In short,
Africa is the global proving ground for electric powered
transportation.
Long-Term Corporate Sustainability
Strategy
ALYI’s
evolutionary approach to developing electric mobility solutions was
designed for sustainability. Separate from ALYI’s innovative,
paradigm changing, electric mobility initiative, management
maintains a residual consulting business leveraging the team’s
extensive operational experience in Africa. The consulting
operations cover fundamental expenses and have permitted the
company to endure its way through to the prevailing investment
market acceptance of electric vehicle
innovation.
CEO Dr. Torno
has been working on the ground in the Middle East or Africa since
2007. He was recalled to active duty as a Lieutenant Colonel
in the U.S. Army and deployed to Iraq in 2007. He received
the Bronze Star in the course of his combat tour. After
finishing his tour in Iraq, Dr. Torno was requested by name for
duty in Addis Ababa, Ethiopia, a deployment lasting 3 years.
He retired from the Army in 2011 and was shortly thereafter
contracted by Northrop Grumman and other companies to work in
Africa on a myriad of projects in countries from Senegal to South
Africa. He holds
a PhD in Public Policy and Political Economics from the University
of Texas.
Ed Bollen, the
President of ALYI served 30 years with the U.S. Government, first
as a U.S. Marine and then working within the U.S. intelligence
community. Since then, Mr. Bollen has worked on management
consulting projects in North America, the Middle East, Africa,
Europe, Asia, the Caribbean and South America. He has
supported military and law enforcement operations, as well as
aviation and maritime services. Mr. Bollen has worked on
projects with Boeing, Bell Helicopter, Sikorsky Aircraft, Raytheon,
General Electric, Lockheed, Marin Marietta, L-3 Communications,
Electric Boat and Newport News Shipbuilding. He has trained United
Nations’ international arms inspectors; established a
counterterrorism task force in Ethiopia; worked directly with the
Palestinian Authority in Gaza and Jericho, and been the boots on
the ground in Liberia at the height of its second civil war
implementing counter insurgency measures. Mr. Bollen has an undergraduate degree in history
from Florida State University and graduate degree in comparative
religion and religious history from The College of William &
Mary.
ALYI’s Initial $300
Million Electric Mobility Initiative And
Beyond
From its founding in patented lithium
technology commercialization, ALYI has evolved into an innovative
electric vehicle company with an initial $300 million electric
mobility initiative in Africa designed to rapidly expand beyond the
initial $300 million scope. The $300 million initiative
includes a key customer for ALYI’s Revolt Electric Motorcycle, and
a comprehensive annual electric mobility event designed to both
fuel the branding and marketing of ALYI’s current and future
electric vehicles in addition to serving as a catalyst in the
development of all ALYI’s future electric mobility
solutions.
ALYI’s Revolt Electric Motorcycle is a
rugged design that has now endured two rounds of prototyping and
testing and is ready for production. The Revolt Electric
Motorcycle will be manufactured in Kenya initially for the Kenyan
ride-share market. Motorcycles are already widely accepted
and in use as taxi’s in Africa.
The branding and marketing for ALYI’s
current and future electric mobility solutions will be built on the
company gaining recognition for its annual electric mobility
conference and symposium that includes an already branded anchor
event. The anchor event is part of an existing and well
established $6 billion industry. The annual electric mobility
conference and symposium and anchor event is expected to contribute
significantly to both ALYI’s top and bottom line, in addition to
providing a catalyst to the development of future ALYI mobility
solutions.
The annual electric mobility conference
and symposium and anchor event will have a dedicated facility in
Kenya. The advanced electric mobility center will host the
annual event and the facility itself will serve as a key component
of generating revenue and advancing electric mobility
technology. As currently contemplated, the facility is
anticipated to span approximately 100 acres as necessary to support
its intended function.
The company is containing the release of
any further specifics regarding the facility or the anchor event at
this time, to maintain competitive advantage and in respect to
certain disclosure
restrictions.
ALYI has executed a $2.5 million
investment deal intended to fund the design and engineering of the
advanced electric mobility site. The $2.5 million is an
advance on a $25 million investment currently committed under a
letter of intent.
Cryptocurrency
Partner’s $25 Million Investment And $50 Million
Valuation
On June 30,
2020 ALYI entered into a letter of intent (LOI) for a $25
million first tranche investment to fund ALYI's overall
$300 million electric mobility initiative
in Africa.
The planned ALYI
investment is one component of the investor's overall $100
million initial cryptocurrency offering (ICO)
strategy. The investor is independently launching an ICO
dedicated to funding ALYI's overall $300 million electric
mobility project in Africa with future plans to fund
additional electric mobility initiatives in Africa. The
investor has already partitioned a cryptocurrency on the Ethereum
Blockchain in advance of the planned
ICO.
The $25
million first tranche investment is structured at a $50
million pre-money valuation of ALYI in consideration of the
company's $300 million electric mobility
initiative. The $25 million first tranche investment
represents a valuation of ALYI common stock at
approximately $0.05 per
share.
The
first $25 million tranche is structured to result in a
change of control with the investor becoming the controlling
shareholder. A management change is not part of the planned
investment. Randell Torno will remain as the Chief
Executive Officer. A second tranche at a valuation calculated
after the first $25 million investment is planned before
the end of the year.
$2 Billion Niche Expected To More Than Double To $5
Billion By 2024
“Africa is
urbanizing faster than any other continent, at a rate of 4% every
year, compared to the global average of 2%. Its rapidly growing
urban population continues to strain existing infrastructure -
transport and energy, in particular.” - World Economic
Forum
“In 2017, 77% of Kenya’s electricity demand
was met through renewable energy. - Kenya Power 2017 Annual
Report
The growth opportunity to provide net new
transportation solutions in Africa is much higher than in any
developed region where most electric vehicle companies are
currently concentrating market development efforts. Within
developed economic regions, the electric vehicle opportunity
requires replacing combustion engine transportation rather than
simply providing a net new transportation
opportunity.
With leading urbanization and sustainable
energy statistics, Africa is arguably better positioned for
electric vehicle growth than other developing economic
regions.
With the current strain on existing
infrastructure in Africa combined with the advance and acceptance
of ride-share technologies, it is unlikely the African economy will
ever grow to accept the individual consumer vehicle owned
transportation paradigm that most electric vehicles are being
produced to serve. Africa is much more likely to evolve and
grow its existing $2 billion in annual sales ride-hailing and taxi market expected to grow
to $5 billion by 2024, than change courses and adopt an induvial
consumer owned vehicle transportation
model.
ALYI’s $300 million initiative is centered
on penetrating that $2 billion market and leading its evolution
into the adoption of electric vehicles and ride-sharing
applications. ALYI management has carefully and deliberately
identified and carved out a substantial niche for itself within the
overall electric vehicle market. That niche is only the start
of ALYI’s long-term plans. ALYI management expects to
leverage the African electric vehicle ride-share niche as a
foothold to expand into the overall electric vehicle market
expected to exceed $1 trillion by
2027.
For more
information and to stay up to date on the latest developments,
please visit: http://www.alternetsystemsinc.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.
Alternet
Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297
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