DALLAS, Feb. 14, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alternet Systems, Inc. (ALYI) (“ALYI”) today announced targeting the acquisition of a shuttered start-up electric car manufacturing facility. ALYI is developing its own electric energy storage technology and simultaneously developing its own electric vehicle production capacity. The company recently announced $1.5 million in orders for its electric motorcycle. With a recent Bloomberg report forecasting electric and internal combustion engine price parity by 2024, ALYI is positioning to expand into electric cars. The share price of Electra Meccanica Vehicles Corp. (NASDAQ: SOLO) has recently exploded in reaction to reports that the cost of electric vehicles will soon be the same as internal combustion engines. “We believe the production facility we are looking at was slightly ahead of its time and couldn’t establish critical mass in time to achieve sustainability,” said Ed Bollen, President of ALYI’s operating subsidiary. “We also think our unique manufacturing approach combined with our own energy storage technology developments will enable us to make the targeted plant a success.”
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 recently brought Clarkson University Professor David Mitlin on board to lead a hemp energy storage initiative. Mitlin has successfully used hemp bast - the fiber left over from processing hemp - to construct carbon nanosheets that compete with, and in some respects, outperform the supercapacitor performance derived from more typical graphene nanosheets. Mitlin holds a US patent for his proprietary hemp energy storage technology.
Research Report Speculative Buy Rating And $0.09 Target PPS
Goldman Small Cap Research recently issued an updated research report on the Company. The report includes a 'speculative-buy' rating with a target price-per-share of $0.09. The report provides an in-depth overview and analysis of Alternet's new strategy, new orders, and upcoming milestones. To view the report, along with disclosures and disclaimers, visit https://www.alternetsystemsinc.com/research-rpt/ or http://www.GoldmanResearch.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.