DALLAS, June 04, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alternet Systems, Inc. (USOTC: ALYI) (“ALYI”) today reemphasized the company’s recent restructuring designed to trigger 1000% revenue growth through its electric vehicle (EV) production and sales initiative in Africa. The company’s African EV production and sales initiative was bolstered yesterday in what management views as an endorsement of the strategy in a Bloomberg feature titled Maybe Africa Really Will Be the New China - Contrary to expert opinion, manufacturing could lead the way. The article points out what many may consider surprising in that “Six of the world’s fastest-growing economies are in Africa, according to IMF forecasts.” The article discusses the magnitude of investment going into developing manufacturing capacity in Africa. The United States is not mentioned as one of the sources of investment. Chinese and Indian sources of investment currently lead the way in Africa. ALYI is a U.S. exception and leader in Africa.
ALYI has recently announced a number of major advances of its electric vehicle production and sales in Africa that could take the company from its roughly $250,000 in annual revenue and recently signed $2 million in orders to over $20 million in annual revenue. In the first quarter of 2019, ALYI signed $1.5 million in orders for its ReVolt Electric Motorcycles in Africa. The company has $2 million in orders for its electric motorcycles overall. The company is also developing an opportunity to assemble its electric motorcycles in Africa in conjunction with a $20 million order for the ReVolt Electric Motorcycles.
A key ALYI partner, Restance, Inc. (USOTC: ANCE) (“ANCE”) has played an important role in developing critical business relationships on ALYI’s behalf for the ReVolt Electric Motorcycle assembly operation and corresponding $20 million contract in Africa. ALYI currently concentrates its primary business development efforts on a broad array of industrial initiatives in Kenya.
About Alternet Systems
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.
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
