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 appears to have over 90% of the shares, and the shares are registered in a cumbersome securities depositories system to apparently provide some anonymity to some early investors.
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.
Real Estate Advisory Fees of $5 million paid out
In 2014 Harrison Wellford, later to become a Board member, is paid $3 million, and TSG is paid $2 million for “Real Estate Consulting”.
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.