The idea & name of Alevo is hatched in order to sell batteries developed by Fortu PowerCell.
Founding of ALEVO GROUP SA in Switzerland.
Jostein Eikeland initially has over 90% of the shares. Over time these would appear to all dissipate.
June 2014 reports of funding from a narcotics smuggler
Newspaper reports suggest that Alevo has been financed by a narcotics smuggler
2013 & 2014 - raise money & party!
Key period for raising money from “real” investors & also sowing the seeds of the ultimate demise.
Alevo launch event
On October 28, 2014, Alevo goes all out in its grand launch event promising lots of jobs and getting hugs from the local governor.
2015 - 2016 The Hangover, Part 1
Finally shareholders get to start asking real questions, firing a director and Alevo reveals it is spending $4.2million per month and almost going bankrupt.