ALYI Confirms LEXG Negotiations to Pursue Growing Lithium Demand Driven by $83 Billion Electric Vehicle Market
October 24 2017 - 8:31AM
InvestorsHub NewsWire
Dallas, TX -- October 24,
2017 -- InvestorsHub NewsWire -- Alternet Systems, Inc. (USOTC:
ALYI) today confirmed that the company is in
negotiations with Lithium Exploration Group, Inc. (USOTC:
LEXG). This confirmation is released as a joint
announcement from the two companies. The two companies are
working together to pursue the growing demand for lithium batteries
driven in large part by the $83 billion electric vehicle
market and 40% CAGR.
Reducing Fire and Explosion from Lithium Ion Cell
Overcharging
Alternet Systems acquired Lithium IP Holdings on July
21st of this year. Prior to the acquisition by
Alternet Systems, Lithium IP Holdings obtained a portfolio of
patented lithium based energy storage technologies in an exclusive
and confidential agreement with a prominent Fortune 500
company. A joint announcement with the Fortune 500 company
detailing the agreement and disclosing specifics of the patents is
in the works. In February this year, when Lithium IP Holdings
and LEXG initially engaged and Lithium IP Holdings was in
negotiations to acquire the subject patent portfolio, LEXG
commissioned an independent analysis of the lithium battery related
technology portfolio. LEXG has made their independent report available
for review. The report highlights the technology
portfolio’s contribution to the reduced risk of fire and explosion
from the overcharging of lithium ion cells.
Alternet Systems plans to expand its portfolio of lithium
technologies and is accordingly eager to explore a strategy to
capitalize on Lithium IP Holdings previous relationship with
LEXG.
The Company’s website:
www.otc-alyi.com or www.lithiumip.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
https://www.otc-alyi.com/contact/