ALYI CEO Expects To Finalize Terms This Week On Second EV Business Acquisition

Rhea-AI Summary

Alternet Systems, Inc. (ALYI) has announced plans for a second acquisition, with CEO Randell Torno in London finalizing terms. This follows a recent deal in Nairobi aimed at boosting electric vehicle revenue. ALYI targets $2 million in revenue from electric motorcycles by the end of 2021. The Nairobi acquisition is anticipated to enhance this revenue stream. Additionally, ALYI is rolling out its first electric three-wheel vehicles as taxis in Addis Ababa. The company aims to establish a comprehensive electric vehicle ecosystem in East Africa, facilitating the transition to electric transportation.

Positive

• Anticipated $2 million revenue from electric motorcycles by year-end 2021.
• Acquisition in Nairobi expected to accelerate revenue growth.
• Launch of electric three-wheel vehicles as taxis in Addis Ababa.
• Development of a comprehensive EV ecosystem targeting East Africa.

Negative

• None.

Dallas, Texas, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Alternet Systems, Inc. (OTC Pink: ALYI) (“ALYI”) today announced ALYI CEO Randell Torno is now in London to finalize terms on a second acquisition expected to close rapidly. 

Dr. Torno was in Nairobi early last week and finalized acquisition terms on a first transaction to acquire a majority interest in a Nairobi business designed to accelerate the company’s electric vehicle revenue.  The acquisition agreement is expected to be finalized and executed with the next two weeks.

ALYI is on track to realize a $2 million revenue target by year end 2021 anticipated from sales of its first electric motorcycles into the African motorcycle market.  The Nairobi acquisition is expected to accelerate and grow the revenue stream in 2021.

From Nairobi, Dr. Torno traveled to Addis Ababa for the rollout of ALYI’s first electric three-wheel Bajaj’s going into service as taxis and delivery vehicles – photos and videos of the rollout event to follow upon Mr. Torno’s return to Dallas.

The second acquisition negotiations are taking place in London in conjunction with strategic meetings to advance ALYI’s ongoing development of an EV race in Nairobi designed to brand ALYI’s EV ecosystem.

ALYI is an Electric Vehicle and overall Electric Vehicle Ecosystem company concentrating on the East African market with plans to expand into to the overall global developing economic market.

ALYI is building an entire Electric Vehicle (EV) Ecosystem that addresses the entire EV adoption environment from the perpetual design of best in class vehicles to the perpetual design of the myriad of mechanical and digital systems that go into a best in class vehicle; from the charging and maintenance infrastructure that goes into supporting consumer and commercial vehicles, to the EV value proposition itself that drives consumers and businesses to transition from combustion engines to electric powered vehicles.

ALYI has designed its EV Ecosystem solution to include democratized participation. ALYI has partnered with Revolt Token to finance ALYI’s growth by offering participation in the EV ecosystem through the sale of Revolt Tokens.
ALYI is on track to realize its $2 million revenue target by year end 2021 anticipated from sales of its first electric motorcycles into the African motorcycle market. 

To learn more about Revolt Token and how to participate in ALYI’s electric vehicle ecosystem through the purchase of Revolt Tokens, visit  https://rvlttoken.com/.

For more information and to stay up to date on ALYI's overall latest developments, please visit 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.

For more information, please visit: http://www.alternetsystemsinc.com
Alternet Systems, Inc. Contact:
Randell Torno
info@lithiumip.com
+1-800-713-0297

FAQ

What recent acquisitions has ALYI announced?

ALYI announced a recent acquisition in Nairobi and is finalizing a second acquisition in London.

How much revenue is ALYI targeting by the end of 2021?

ALYI is aiming for $2 million in revenue from electric motorcycle sales by year-end 2021.

What is the purpose of ALYI's acquisition in Nairobi?

The Nairobi acquisition is designed to accelerate ALYI's electric vehicle revenue.

What new products is ALYI launching in Addis Ababa?

ALYI is rolling out its first electric three-wheel vehicles to be used as taxis and delivery vehicles.

What is ALYI's strategy for the East African market?

ALYI plans to build a comprehensive electric vehicle ecosystem to drive EV adoption in East Africa.