DALLAS, October 17, 2017 /PRNewswire/ --
Alternet Systems, Inc. (ALYI) today released further details on its recent entry into the lithium based energy storage market and how its developing a foothold in the sector with its portfolio of U.S. patented lithium technologies. Transparency Market Research (TMR) reports the lithium battery market is expected to reach over $77 Billion by 2024 at a CAGR of 11.6%. Alternet Systems obtained its lithium technology portfolio when it acquired Lithium IP Holdings on July 21st of this year. Prior to the acquisition by Alternet Systems, Lithium IP Holdings obtained its portfolio of patented lithium based energy storage technologies in an exclusive and confidential agreement with a prominent Fortune 500 company. A joint announcement detailing the agreement and disclosing specifics of the patents is in the works.
Lithium Battery Business Strategy
Alternet plans to develop partnerships with prominent businesses and agencies to commercialize its portfolio of patented lithium technologies. Alternet is in discussions with potential partners in the US and abroad. Potential partners include Fortune 500 companies.
Lithium Patented Technology Features
The existing portfolio of patented lithium battery enhancement technologies were developed to provide stable, safe, long duration power in high impact operating systems. Industrial tools, combat applications, automotive and other powered mechanical apparatus are examples of potential uses. With decades of military and intelligence community experience, the Alternet Systems management team has a deep background with a variety of high impact applications.
After selling a previous financial systems operating subsidiary, previous Alternet Systems management began working to identify a new business direction. That effort culminated in a management change and above noted acquisition this past July. The Company anticipates imminently completing the update of past financial reports that fell delinquent while the Company's primary focus was the development of a new business.
Look for more updates to be forthcoming over the coming weeks to include more details on the patented technologies, potential commercialization partners, and new technology acquisitions under development.
The Company's new website:
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.