Alternet Systems Inc (ALYI)

[lesgetrich]

Here's today's PR...

ALYI Announces LOI On African Electric Motorcycle Assembly Plant To Include $20 Million Order

DALLAS, April 12, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alternet Systems, Inc. (OTC: ALYI) (“ALYI”) management has been in Kenya this week meeting potential partners and touring facilities with the intention of opening an assembly plant to complete manufacturing in Africa for ReVolt Electric Motorcycles to be sold across the African continent. Management is pleased to announce the visit to Kenya has resulted in the execution of a Letter of Intent (LOI) to move forward with the assembly plant. The LOI includes a planned initial $20 million order of 2,000 ReVolt Electric Motorcycles. The $20 million order would add to a previously announced $1.5 million in confirmed orders for its ReVolt Electric Motorcycles to be delivered in Kenya.

All of the ReVolt Electric Motorcycles targeted for delivery in Kenya are intended to be delivered into the shared ride services market. Motorcycle Taxis or “boda boda” taxis are already popular in Africa with much room for safety and efficiency improvements that the ReVolt Electric Motorycle can deliver. Uber, among other shared ride service providers are already popular in Kenya. The shared ride market globally is forecasted to reach $218 billion by 2025.

ALYI also signed a second LOI this week in Kenya separate from the assembly plant LOI, but very much a significant potential feather ALYI’s Electric Vehicle hat. The second LOI agreement leads to a potential contract where ALYI secures a leadership role in a global electric vehicle institution that is expected to contribute substantially to the ongoing advance of electric vehicle technology worldwide.

Look for more information and developments on the two LOI’s announced today coming soon.