ALYI $100 Million Funding Partner Partitions Cryptocurrency On Ethereum Blockchain
March 11 2020 - 7:05AM
InvestorsHub NewsWire
ALYI $100 Million Funding Partner
Partitions Cryptocurrency On Ethereum Blockchain
Dallas, TX --
March 11, 2020 -- InvestorsHub NewsWire -- Alternet Systems, Inc.
(USOTC:
ALYI) today confirmed a funding milestone published yesterday
in a management update to inform shareholders of recent substantial
progress advancing the company toward the rollout of its electric
vehicle solution in Africa. The update yesterday also sheds new
light on the company’s overall business plan by presenting new
context surrounding the company’s strategy and objectives.
The update is included again here in its entirety
below.
Management
Update
ALYI entered the
electricity storage sector in the summer of 2017 when it acquired a
patent portfolio of innovative lithium battery technologies and
appointed a new management team. ALYI adopted a
strategy of exploring various electricity storage applications for
its portfolio of lithium battery technologies. The strategy
emphasized building partnerships with other organizations pursuing
objectives that could benefit from ALYI’s technology
portfolio. ALYI management recognized the promise of
concentrating business development efforts where 1) there was an
opportunity for a new technology to leapfrog incumbent technology
and 2) there was an opportunity for exponential growth from the
implementation of a new technology. In pursuit of a fertile
opportunity for exponential growth triggered by the introduction of
a leapfrog technology, ALYI management gravitated toward electric
powered transportation in
Africa.
Per capita
automobile ownership in the U.S. is seventy percent (70%) and fifty
percent (50%) in Europe. Per capita automobile ownership in
Africa is just two percent (2%). The per capita consumption
of electricity in the U.S. is twenty-six (26) times higher than per
capita consumption in Sub Sahara Africa according to a report
titled
Powering African from McKinsey &
Company. Today, only half the population of Sub Sahara Africa
has access to continuous electric
current.
The inevitable
transportation productivity improvements coming in Africa are
unlikely to include any resemblance to the individual automobile
ownership model underlying the transportation infrastructure in the
U.S. and Europe. Africa is ripe for the technology leapfrog
rollout of electric powered, self-driving, connected autonomous
vehicles (CAVs) delivering individualized transportation solutions
via a shared ride model. With over one billion people living
in Sub Sahara Africa, the implementation of an individualized
electric powered transportation solution presents a highly
exponential growth
opportunity.
ALYI has
developed an electric motorcycle with a side car designed
specifically for implementation in the African shared ride
market. Gas powered motorcycle taxis are already common in
Africa. The ALYI electric motorcycle is designed to improve
energy efficiency, passenger capacity and safety all at a lower per
unit cost. ALYI has already a secured contract in Kenya for
its electric motorcycle. ALYI has also secured complimentary
contracts supporting its initial electric motorcycle
contract. Combined, ALYI has over $300 million in eclectic
mobility related projects. ALYI is now working to finalize
the funding necessary to begin commercial production of its
electric motorcycle.
ALYI has
established a partnership with an organization launching a
cryptocurrency dedicated to funding electric mobility projects in
Sub Sahara Africa. Given the exponential return on investment
(ROI) potential from implementing a technology leapfrog
transportation solution in Africa where per capita automobile
ownership is only 2% today, a cryptocurrency investment strategy
can democratize that ROI opportunity giving anyone with access to
the internet an opportunity to participate. The
cryptocurrency objective is to raise $100 million. The
cryptocurrency initiative has received interest from an investor
that may underwrite the $100 million offering. ALYI is
currently the only organization in partnership with the
cryptocurrency initiative. Today, ALYI is pleased to share
that our cryptocurrency partner has taken a major step
forward. The cryptocurrency has now been partitioned on the
Ethereum blockchain. A marketing plan for an initial cryptocurrency
offering (ICO) is being finalized. A regulatory review is
being conducted. As timing of the ICO becomes more
predictable a target date will be
announced.
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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