Alternet Systems, Inc Pairs with Magnum Pirex, AG

New Company to Expand on Shared e-Mobility and Green Energy Opportunities
 
DALLAS - Oct. 19, 2023 - PRLog -- Alternet Systems, Inc. (USOTC: ALYI) announces the acquisition of Magnum Pirex, AG, a Hesse, Germany-based company with a portfolio of personal and small commercial E-Mobility and ground-breaking fuel cell solutions. Magnum Pirex, AG has over a decade of innovation and operational success in fuel cell technology applications and devices. Existing management from Magnum Pirex, AG will join the new company while Randell Torno will stay on as Chief Executive. The Company's business plan is to operationalize opportunities in the e-Mobility and fuel-cell sectors, primarily in developing markets, leading to profitable sales of e-Mobility platforms and fuel-cell based product lines and support services.

Alternet Systems, Inc. has had very little operational activity over the past year while management explored new business opportunities.  The financial reports currently available to the public are stale.  Management anticipates having public information disclosures updated and available on the OTC Markets website in the very near future.

Magnum Pirex, AG's website: http://www.magnumfuelcell.com

Alternet Systems, Inc. website: http://www.alternet-ebike.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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Tags:ALYI-Magnum
Industry:Environment
Location:Dallas - Texas - United States
Subject:Mergers
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