DALLAS, June 21, 2019 — — Alternet Systems, Inc. (USOTC: ALYI) (“ALYI”) today highlighted the Paris Air Show focus on electric powered flight, particularly in the area of electric flying taxis. ALYI’s electric vehicle strategy is catering to the shared ride market that is anticipated to outpace the private transportation market in Africa. ALYI recently announced securing an investment partner to back a planned assembly plant in Kenya to produce ALYI’s ReVolt Electric Motorcycles to be sold across the African continent. The deal to build the manufacturing plant includes an initial order for two thousand ReVolt Electric Motorcycles which would total $20 million in sales. ALYI has already signed $1.5 million in confirmed orders for its ReVolt Electric Motorcycles to be delivered in Kenya. CNN reported “The rise of hybrid and electric aircraft was on full display at the [Paris Air Show], where startups competed with industry giants to show off technology that’s more efficient and better for the environment than traditional designs.” ALYI went to Paris for the air show specifically to learn about the technological advances in electric power that could be applicable to ALYI’s current work and that might lead to future endeavors. ALYI management considers partnering with one of the estimated 150 flying taxi projects to co-develop an electric flying taxi a viable future opportunity the company will pursue.
A report from the air show can be seen here: https://www.euronews.com/2019/06/19/paris-air-show-airbus-and-boeing-present-their-autonomous-air-taxis
ALYI is focused on offering varied, environmentally sustainable, energy storage solutions for targeted markets, including consumer electric vehicles and military applications. The first product category is lithium battery-powered motorcycles, to be followed by motorbikes. ALYI also has an ongoing hemp energy storage initiative leading its current efforts to introduce an alternative to lithium batteries.
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.