ALYI Alternet announces plans to fund $300 million electric mobility initiative
Alternet, a Dallas, Texas-based energy company on mission to innovate solutions to the global energy storage capacity shortage, today announced drafting a letter of intent (LOI) with its funding partner delineating terms for an initial $25 million first tranche investment to fund ALYI’s $300 million electric mobility initiative in Africa. Management expects to have the LOI finalized by the end of June.
ALYI has an overall $300 million comprehensive electric vehicle strategy in Africa founded on initially launching the commercial production of the company’s own ReVolt Electric Motorcycle. The ReVolt Electric Motorcycle pilot passed initial design requirements and ongoing pilot design refinements are expected to soon deliver a reduced overall weight and improved cruising range.
The company has signed orders for electric motorcycles with a side car to be produced in Kenya for shared ride providers in Kenya. ALYI has also recently announced a $100 million cryptocurrency investment strategy targeted at expanding beyond the company’s existing $300 million in electric vehicle projects in Africa.
ALYI has also partnered with an independent firm founded specifically for launching an initial crypto currency offering (ICO) dedicated to funding ALYI’s overall $300 million electric mobility project in Africa. The company is on track with its funding partner for the African electric mobility project. A cryptocurrency has already been partitioned on the Ethereum Blockchain. In conjunction with the LOI progress announced today, a pre ICO funding round is underway and ICO details are being finalized.
The Alternet Systems management team has worked together for years in a variety of capacities separate from Alternet. Much of their experience together was in the military or working with the military. Their time in the military included working with a variety of electronic information and communications systems and combat systems. All of these systems required ruggedized and sustainable energy storage solutions.
More recent experience that ultimately led up to the management team coming together to build the Alternet operation involved working with university research and development departments experimenting with various energy storage technologies – primarily graphene-based supercapacitors. Current graphene-based supercapacitors can now store almost as much energy as lithium-ion batteries, charge and discharge in seconds and maintain all this over tens of thousands of charging cycles.