- ALYI Hemp and Lithium Alternative Energy Strategy Summary
- Hemp Energy Storage Partnership and Acquisition Pipeline Update
- Existing $250,000 Annual Revenue Detailed
- $50 Million Near Term Revenue Potential Featured
- $300 Million 10 Year Revenue Potential Revealed
- CEO Expertise As PhD In Public Policy and Political Economics Featured In Upcoming Article On Industrialization of Africa Highlighted
- ANCE and NOUV Partnerships Included In Update
DALLAS, Sept. 04, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Alternet Systems, Inc. (ALYI) (“ALYI”) today published a management update. The company recently published its year-to-date financials through Q2 2019 ending June 30th. The company has made substantial progress on its alternative energy business plan since entering the alternative energy sector when it acquired Lithium IP Holdings on July 21, 2017. The purpose of the update today is to summarize the company’s progress, highlight key milestones and feature major objectives. The management update is included below in its entirety.
ALYI Management Update
On July 21, 2017, the Company acquired Lithium IP Holdings in a transaction that included a management and business direction change. From July, 2017 forward, the company entered the alternative energy sector.
In 2017, Lithium IP Holdings exclusively licensed ten U.S. Patented lithium battery technologies with an option to acquire the ten U.S. Patents. Lithium battery technology research and development was the beginning of the company’s alternative energy strategy. The company’s strategy has expanded substantially past the ten Patents since that time. That expansion will be elaborated upon herein.
When ALYI acquired Lithium IP Holdings, Randell Torno was named the new Alternet Systems Chairman and CEO. Edward Bollen, the President of Lithium IP Holdings, also joined the Altnernet Systems management team. Randy Torno and Ed Bollen have worked together for years on multiple projects spanning across various energy niche markets with particular focus on the government sector and with expansive experience within developing economic countries. The management team is now in transition to best facilitate the company’s forward progress. Though roles are changing, Randy Torno and Ed Bollen will both remain involved with company for the foreseeable future. More on the transition will be included later in this update.
Application Integration and Corresponding R&D
ALYI’s alternative energy strategy is integration and application focused. In other words, ALYI finds existing alternative energy innovations and integrates those innovations into practical applications. The integration typically requires further research and development for the innovation. Today, ALYI concentrates on transportation applications and a variety of military applications. ALYI continues to work on its founding lithium innovations integration and ongoing research and developments, and has since added hemp supercapacitors. Last year, ALYI engaged the holder of a hemp supercapacitor patent as a consultant to kick start ALYI’s hemp alternative energy initiative and the company remains committed to developing commercial hemp energy solutions.
ALYI today has a number of application integration and corresponding research and development projects. Below are some leading highlights and anticipated next milestones:
Hemp Energy Developments and NOUV Partnership
The company’s hemp energy solution initiative is centered largely on the ongoing development of key partnerships and the acquisition of key technologies. The company has laid out a series of milestones toward the end objective of a hemp centric energy storage solution. Hemp centric energy storage requires the consolidation of several coordinating technologies. The hemp supercapacitor is only one. ALYI has endeavored to consolidate the additional coordinating technologies through partnerships and the acquisition of businesses with other coordinating technologies. The company has nominated a short list of specific hemp energy storage application candidates around one of which the company plans to forge the prospective partnerships and acquisitions. Management believes a breakthrough triggering the fruition of the partnerships and acquisitions is on the horizon. Look for news anticipated soon.
As part of its ongoing hemp energy research and development, ALYI has engaged with a cannabis cultivation company to access hemp materials. ALYI is working with the licensed hemp cultivator, Nouveau, Inc. (NOUV). NOUV is anticipating its first U.S. hemp harvest within the next four weeks.
Military Alternative Energy Applications
A review of management’s experience reveals a robust military background. Based on that background, the company has been engaged in a long-term consulting agreement to explore defense oriented alternative energy applications. The company’s financial statements reflect a near quarter of a million dollars in annual revenue generated from the consulting agreement. Management anticipates the consulting agreement to develop into one or more specific projects to integrate alternative energy innovations into defense applications. Management further anticipates that such an integration project is soon approaching. Look for news anticipated soon.
Electric Motorcycles; Shared Rides; Africa and ANCE
ALYI continues to advance toward the fruition of an initial $20 million order for its own ReVolt Electric Motorcycle With Side Car. Earlier this year, the company signed a letter of intent (LOI) for a comprehensive project to manufacture electric motorcycles in Africa that included an initial $20 million order. ALYI, so far, has met all milestones required in the LOI. Most recently, the company wrapped-up meetings in Dallas with its African production partner to finalize ALYI’s industrial design specifications plan. An updated prototype electric motorcycle is anticipated to soon be completed based on the finalized industrial design specifications plan. Once the updated prototype is tested and accepted, production is expected to begin soon. The production will initiate rapidly as an existing production line is expanded to accommodate the production of ALYI’s ReVolt Electric Motorcycle.
The ReVolt Electric Motorcycle African production is centered on producing vehicles for a shared ride business in Africa. Motorcycle taxis are already accepted by the market in Africa and a strategy to transition existing ride share gas motorcycles to electric motorcycles provides ALYI a rapid growth opportunity.
The ReVolt Electric Motorcycle Project in Africa also comes with a potential strategic partnership with a globally recognized brand name. This partnership would likely enhance the sales potential of the overall ReVolt Electric Motorcycle in Africa. Regardless, provided the partnership comes together as currently anticipated, the partnership would account for substantial revenue estimated to reach $30 million annually for six to ten years – a total potential of $300 million in revenue over 10 years. ALYI is working closely with Restance, Inc. (ANCE) in the development of the $30 million annual revenue opportunity. The two companies anticipate the project achieving a major milestone within the next two months. Look for news anticipated soon.
ALYI and ANCE recently announced a coming senior management transition. The transition is largely structured around the project mentioned above anticipated to generate a potential $30 million annually in partnership with ANCE. The transition moves existing management into positions where they can appropriately dedicate time and specific skills to the project. Randy Torno has been the CEO of both ALYI and ANCE. Ed Bollen, the current President of ALYI is transition into the role of ANCE CEO and Randy Torno will then be solely the CEO of ALYI.
CEO Randell Torno Interviewed With Other Experts On African Industrialization
Randy Torno holds a PhD in Public Policy and Political Economics from the University of Texas. Outside of ALYI he is a recognized expert on government policy in developing economic regions with extensive hands on experience in Africa. An interview that includes Randy Torno on the subject of the growing industrialization of Africa will be published next week. Mr. Torno’s comments are anticipated to include discussion regarding his hands-on experience with ALYI in Africa. Look for a press release from ALYI when the article is published.
For more information, 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.
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