ALYI – Alternet Systems Secures Institutional Commitment To Spark Global Attention For African Electrical Mobility Technology
Dallas, TX -- December 19, 2019 -- InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC: ALYI) today announced securing institutional commitment to support an annual African electric mobility technology conference and symposium to advance the deployment of electric powered transportation solutions specific to Africa. The focus includes environmental sustainability but also overall transportation efficiency applicable to the African transportation infrastructure, economy, and consumer. 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. Dr. Torno just concluded meetings in London this week where he secured institutional brand name commitment that will serve as the anchor event and attraction at the annual African electric mobility technology conference and symposium. The planed conference and symposium location is Nairobi, Kenya.
As ALYI now begins to assemble and promote the first African electric mobility technology conference and symposium targeted for the first quarter of 2021, the company emphasizes that the subject of electric transportation is far greater than the mere replacement of fossil fueled cars with electric powered cars. For instance, Volvo, Hyundai, Aston Martin and Porsche, to name only a few, have electric powered vertical take-off and landing (VTOL) initiatives in the works. Uber’s ‘Uber Elevate’ program has slated deploying flying taxi services in Dallas, Los Angeles and Melbourne by 2023. ALYI is particularly focused on electric transportation solutions for the shared-ride market. As a further example of the magnitude of the scope of electric mobility technology, ALYI highlights the evolution of electricity production and storage. While electric storage for electric vehicles is dominated today by lithium batteries, ALYI management doubts the longevity of lithium-based solutions. Battery technology in general is inefficient and lithium is volatile. Toyota and Hyundai already sell hydrogen fuel cell powered cars where instead of a battery delivery electricity, a hydrogen fuel cell delivers electricity to the electric car. ALYI has its own hemp supercapacitor research and development initiative ongoing as a promising alternative to current battery technologies.
ALYI is currently developing $300 million in electric vehicle projects in Africa targeting the shared-ride market. The company has signed orders for electric motorcycles with a side car to be produced in Kenya for shared ride providers in Kenya. ALYI has also recently announced a $100 million cryptocurrency investment strategy targeted at expanding beyond the company’s existing $300 million in electric vehicle projects in Africa.
The institutional partner referenced today is not yet being specifically disclosed. In addition to a non-disclosure agreement, details involving important participation from third parties separate from the institutional partner and ALYI must first be finalized. A specific engagement to finalize such details is underway.
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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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