ALYI Expands Electric Vehicle Footprint In Sub-Saharan East Africa

Rhea-AI Summary

Alternet Systems (USOTC: ALYI) announced a letter of intent (LOI) with a potential customer for ReVolt Electric Motorcycles, potentially increasing revenue outlook from $300 million to $500 million. The company has secured a $20 million order and a $30 million LOI in Kenya, with a new order expected in Ethiopia to expand manufacturing capabilities. ALYI will reveal details on its electric vehicle battery innovation on September 22, 2020, aligning with Tesla's Battery Day. The firm aims to enhance its electric mobility ecosystem in Sub-Saharan Africa.

Positive

• Potential revenue increase from $300 million to $500 million.
• Secured $20 million and $30 million orders in Kenya.
• New order in Ethiopia expected to expand manufacturing.

Negative

• None.

DALLAS, TX, Sept. 21, 2020 /PRNewswire/ -- Alternet Systems, Inc. (USOTC: ALYI) today confirmed the company has entered into a letter of intent (LOI) agreement with a new potential customer for ReVolt Electric Motorcycles that could expand the company's $300 million potential revenue outlook to $500 million. 

ALYI currently has already entered into an initial $20 million electric motorcycle order and an additional letter of intent agreement for a $30 million contract.  Both the $20 million and $30 million commitments are in Kenya.

The new order under LOI and expected to result in a confirmed order by the end of September is in Ethiopia.  The new order would also expand ALYI's manufacturing capacity with the order for Ethiopia being fulfilled in Ethiopia.

ALYI EV Battery Day

Tomorrow, on Tuesday, September 22, 2020, the company will publish new details on the electric vehicle battery and electric vehicle charging station components to ALYI's overall electric mobility ecosystem.

In addition to its own groundbreaking electric vehicle (EV) battery innovation progress, the company is exploring solutions with Samsung SDI and Gegadyne Energy.

ALYI's electric mobility ecosystem solution for Sub-Saharan Africa also includes a planned EV charging station Network.

ALYI has timed their Battery Day overview to coincide with Tesla's schedule "Battery Day," 

For more information and to stay up to date on ALYI's 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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SOURCE Alternet Systems, Inc.

FAQ

What is the potential revenue outlook for ALYI after the new LOI?

The potential revenue outlook for Alternet Systems (ALYI) could increase from $300 million to $500 million.

How much are the current orders secured by ALYI in Kenya?

ALYI has secured a $20 million order and an additional $30 million LOI in Kenya.

What is happening on September 22, 2020, related to ALYI?

On September 22, 2020, ALYI will publish new details about its electric vehicle battery innovations.

What new order is ALYI expecting, and where will it be fulfilled?

ALYI is expecting a new order in Ethiopia, which will also expand their manufacturing capacity in that region.